By Malcolm Owen
Sunday, August 25, 2019, 12:53 pm PT (03:53 pm ET)
Apple should put the planet before profits, a group of more than 30 business leaders from major companies have urged, via a full-page advertisement in the New York Times demanding members of the Business Roundtable lobby group become more ethical in their practices.
The advertisement takes the form of a letter addressing the Business Roundtable, an organization representing 181 of the largest companies in the United States, including Apple. The open letter is in response to a decision made by the Business Roundtable to change how it defines the “purpose of a corporation” to one promoting “an economy that serves all Americans,” rather than just shareholders.
While the Business Roundtable wants companies to benefit all stakeholders, adding customers, employees, suppliers, and communities to the list of responsibilities, the group of “B Corp” CEOs view this as not a revelation to them. B Corps refer to companies that have become “certified” in providing a positive impact for the new stakeholders, as well as the environment.
In the letter published in the New York Times, the B Corps insist “We operate with a better model of corporate governance — benefit corporation governance — which gives us, and could give you, a way to combat short-termism and the freedom to make decisions to balance profit and purpose.”
The ad also includes a list of 33 business leader