Nearly six years ago, the Business Roundtable declared a commitment to broader corporate responsibilities beyond shareholder profits. However, recent political changes, particularly under the Trump administration, have led to a rollback of these commitments, particularly regarding diversity, equity, inclusion (D.E.I.), and environmental sustainability. Companies like Target, Meta, and Google have been noted for this retreat, driven by fear of litigation and political backlash. This shifting corporate landscape echoes Milton Friedman's advocacy for prioritizing shareholder profit, demonstrating an enduring trend of adaptability in business practices in response to external pressures.
A collective statement from the Business Roundtable highlighted that CEO priorities beyond profit include serving employees, customers, and ethics, but current trends show retreating commitments.
With the Trump administration declaring D.E.I. efforts as illegal and immoral, corporate America appears to be yielding to the political climate, withdrawing from commitments to sustainability.
#corporate-responsibility #diversity-and-inclusion #sustainability #political-influence #business-ethics
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