Stakeholder Capitalism

On January 27, Brian Moynihan, the CEO of Bank of America, and Klaus Schwab, the executive chairman of the World Economic Forum, published an op-ed in Fortune:In stakeholder capitalism, good metrics will keep corporate leaders honest.https://fortune.com/2021/01/27/stakeholder-capitalism-metrics-purpose-leadership/ Read the article and check out the Stakeholder Capitalism metrics.https://www3.weforum.org/docs/WEF_IBC_Measuring_Stakeholder_Capitalism_Report_2020.pdf As you will see, this newest set of sustainable business/corporate social responsibility metrics is a compilation of other metrics from existing frameworks aiming for a truly global standard, which is probably likely.

Skim the Stakeholder Capitalism metrics. As you do, think about

• how these could be applied in practice within an organization
• what value they will have in driving all businesses who use them to help achieve the goals
• what value any organization (academics, local/state/regional/federal governments, NGOs, media, etc.) could have in aggregating and comparing such reporting data. Think about how TRI data. https://www.epa.gov/toxics-release-inventory-tri-program/tri-data-action#:~:text=public%20health%20concerns.-,Government,the%20impact%20of%20environmental%20policies. is used for comparison.
• if tools like the Future Fit Business Benchmark and environmental management systems could be used in concert with these metrics
• if the set of metrics will achieve what Moynihan and Schwab claim in the title of their article.

Then post your reflection here.