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The calls for ethical behavior by business organizations have grown louder over the past year of the pandemic and social unrest. Yet, as a recent multidisciplinary conference on corporate purpose made clear, responding to these needs by practicing good business is anything but simple.
But there is a simple reason for ethical behavior, and that is that businesses should be committed to fixing rather than compounding the problems facing the world.
When it comes to tackling huge global issues like climate change, it can be easy to get overwhelmed by the size of the challenge and bogged down in pessimism. But there are positive signs that business leaders understand the need to do much more to protect the environment. Several speakers at the event, organized by IESE’s Center for Corporate Governance and the European Corporate Governance Institute, agreed that climate change is the foremost reason for responsible business.
“The overwhelming reason why we have to bring ethics back into the picture is climate change,” said Patrick Bolton, a professor at Columbia Business School. “This is the biggest challenge that awaits us in the 21st century.”
Some of the key issues explored during the conference demonstrate that, while there …
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