Council for Inclusive Capitalism Convenes Global CEOs and Faith Leaders to Advance a More Inclusive and Sustainable Economy
By Council for Inclusive Capitalism
March 24, 2023
Photo by Marcin Mazur. View full resolution image here. Pictured from left to right: Bernard Looney, CEO, bp; Pelin Akin Özalp, Board Member of Akfen Holding; Natarajan Chandrasekaran, Chairman, Tata Sons Private Limited; Jeff Ubben, Founder and Managing Partner of Inclusive Capital Partners; Rich Lesser, Global Chair of Boston Consulting Group (BCG); Jean Pierre Casey of the Holy See Investment Committee; Lynn Forester de Rothschild, Co-Founder and Managing Partner, Inclusive Capital Partners; Ben Lucas, Managing Director at Merck; Eduardo Bartolomeo, CEO of Vale; Jaime Augusto Zobel de Ayala, Chairman of the Ayala Corporation; Feike Sijbesma, Advisor to the Council for Inclusive Capitalism; Owen Tudor, Deputy General Secretary of the International Trade Union Confederation (ITUC); Marcie Frost, CEO, CalPERS; Lim Boon Heng, Chairman of Temasek; Carlyn McCaffrey, Partner at McDermott Will & Emery; the Most Reverend and Right Honourable Justin Welby, Archbishop of Canterbury; Eileen O’Connor, Senior Vice President of Strategic Communications and Policy at the Rockefeller Foundation; William P. Lauder, Executive Chairman of The Estée Lauder Companies; the Right Reverend Professor David Walker, Lord Bishop of Manchester; Franz Paasche, Senior Vice President and Corporate Affairs Officer at PayPal; Dr. Azza Karam, Secretary General of Religions for Peace; Michael Archbold, Board Member of the Council for Inclusive Capitalism; Emmanuel Faber, Chair of the International Sustainability Standards Board (ISSB); Rick Lacaille, Executive Vice President and Global Head of ESG at State Street; Meredith Sumpter, CEO of the Council for Inclusive Capitalism. Not pictured: Monsignor Hilary Franco, Adviser Emeritus at the Permanent Mission of the Holy See to the United Nations; Punit Renjen CEO Emeritus, Deloitte Global; Mathias Cormann Secretary-General, OECD.
LONDON, Mar. 24, 2023 — The Council for Inclusive Capitalism, a global community of business leaders committed to inclusive and sustainable business practices, today announced the first in-person convening of its steering committee since its launch in December of 2020. Hosted at Lambeth Palace Library in London by the Most Reverend and Right Honourable Justin Welby, Archbishop of Canterbury, the meeting brought together leaders across the private and public sectors, and faith traditions from around the world to chart an onward path toward a more inclusive, equitable, and sustainable global economy.
The Archbishop of Canterbury, the Most Reverend Justin Welby, said: “Capitalism has brought the world huge wealth and innovation – much of it, I would say, to the glory of God. But that is not enough if all God’s creatures are not flourishing. I am looking forward to addressing how capitalism can be more inclusive and can lead to mutual and beneficial outcomes.”
The Council for Inclusive Capitalism is founded on the moral and market imperative for capitalism to function more inclusively and sustainably. This convening brought together leaders from the Church of England, the Catholic Church, and other faith traditions represented by Religions for Peace as well as more than a dozen global CEO and executives to take stock of needed reforms amidst growing climate and inequality risks and chart onward steps for the Council for Inclusive Capitalism and its members to address these challenges. Discussions were led by steering committee members and included some of today’s most critical business issues: advancing a just energy transition, accurately measuring and accounting for impact, and advancing private sector uptake of inclusive and sustainable practices to the benefit of business and society.
“Business—and our capitalist economy—works best when it works for all. That’s why the Council for Inclusive Capitalism exists,” said Lynn Forester de Rothschild, founder and co-chair of the Council for Inclusive Capitalism. “Since launching the Council, the world has experienced unprecedented challenges: a pandemic, economic downturn, geopolitical turmoil, and a rapidly warming planet to name a few. This work has never been more important, and the unwavering commitment of these leaders inspires me and gives me great hope for our future.”
Council steering committee members in attendance included Pelin Akin Özalp, Board Member of Akfen Holding; Eduardo Bartolomeo, CEO of Vale; Mathias Cormann, Secretary-General, OECD; Natarajan Chandrasekaran, Chairman, Tata Sons Private Limited; Lynn Forester de Rothschild, Co-Founder and Managing Partner, Inclusive Capital Partners; Marcie Frost, CEO, CalPERS; William P. Lauder, Executive Chairman of The Estée Lauder Companies; Rich Lesser, Global Chair of Boston Consulting Group (BCG); Lim Boon Heng, Chairman of Temasek; Bernard Looney, CEO, bp; Punit Renjen, CEO Emeritus, Deloitte Global; Feike Sijbesma, Advisor to the Council for Inclusive Capitalism; Jeff Ubben, Founder and Managing Partner of Inclusive Capital Partners; and Jaime Augusto Zobel de Ayala, Chairman Ayala Corporation. Also attending were representatives from the International Trade Union Confederation (ITUC), Merck, PayPal, the Rockefeller Foundation, and State Street.
In addition to Council steering committee members and Archbishop Justin, special guests and advisors participating in the meeting included Jean Pierre Casey of the Holy See Investment Committee; Emmanuel Faber, ISSB Chair; Monsignor Hilary Franco, Adviser Emeritus at the Permanent Mission of the Holy See to the United Nations; Dr. Azza Karam, Secretary General of Religions for Peace; and the Right Reverend Professor David Walker, Lord Bishop of Manchester. Other faith leaders shared statements on the moral imperative for private sector leaders to advance more inclusive and sustainable business practices, including His All-Holiness Bartholomew I, Archbishop of Constantinople – New Rome and Ecumenical Patriarch and Chief Rabbi David Rosen KSG CBE, International Director in the Department of Interreligious Affairs of the American Jewish Committee.
The Council for Inclusive Capitalism was founded with the belief that businesses have a responsibility and the ingenuity to create stronger, fairer, and more dynamic economies and societies. It is now a global community of more than 400 business leaders from around the world, and it hosts a comprehensive public platform of more than 700 concrete and measurable private sector actions to doing business in ways that benefit people, communities, and the planet. Council membership is open to all companies and organizations who are willing to make measurable, public commitments toward more inclusive and sustainable business practices and share progress toward these goals. You can see the full list of Council members here.
About the Council for Inclusive Capitalism:
The Council for Inclusive Capitalism is a global nonprofit organization established to harness the potential of the private sector to create a more inclusive, sustainable, and trusted capitalism. The Council is guided by faith-based and ethical leaders, and it is led by a core group of global CEOs and public leaders who take concrete actions to enable a more inclusive capitalism and who convene annually to advance the Council’s mission. Further information can be found at https://www.inclusivecapitalism.com.
