Profits for shareholders must not come at the expense of the environment or society, according to a statement signed by more than 180 major businesses.
Members of the Business Roundtable – including American Airlines, Coca-Cola and Walmart – said they believe a free market is the best way of achieving a “healthy environment."
Other measures outlined in an open letter signed by 181 of the US-based group’s 192 members included delivering value to customers, investing in employees, and dealing fairly and ethically with suppliers.
Jamie Dimon, Chief Executive at JP Morgan Chase and Chair of the roundtable, said the declaration “will help to set a new standard for corporate leadership."
Darren Walker, President of the Ford Foundation, added: “It is more critical than ever that businesses in the 21st century are focused on generating long-term value for all stakeholders and addressing the challenges we face, which will result in shared prosperity and sustainability for both business and society.”