Pope means business.
Capitalism met Catholicism on Tuesday, as some of the world’s top businessmen announced a new partnership with Pope Francis.
The alliance, known as the Council on Inclusive Capitalism with the Vatican, aims to create a more inclusive, equitable and sustainable economic landscape by pledging to sustainable development goals that focus on areas such as climate action, peace, justice, quality education, and gender equality.
Pope Francis said in a statement, “There is an urgent need for an economic system that is just, trustworthy and capable of facing the deepest challenges facing humanity and our planet.”
The board consists of 27 core members known as the Guardians of Total Capitalism, who represent companies with a market value of over $ 2.1 trillion and 200 million workers.
Members include Bank of America CEO Brian Moynihan, Johnson & Johnson CEO Alex Gorsky, Salesforce CEO and founder Mark Benioff, and Mastercard CEO Ajay Banga. The Guardians will meet annually with Pope Francis and Cardinal Peter Turkson, leader of the department to promote integrated human development in the Vatican, to follow up on their actions. Vision and values.
“The fact that different religions need to come together in all matters is just an urgent need for the era in our world,” Banga said in the board’s video introduction. “Faith cannot be used to separate us. Faith aims to unite us.”
The establishment of the board, led by Managing Partner of Inclusive Capital Partners Lynn Forester de Rothschild, demonstrates the collaborative effort of environmental and social practices focused on governance that are already occurring in the economic landscape.
Earlier this year, JPMorgan Chase announced that it would commit $ 30 billion to advance racial equality over the next five years while Apple and Microsoft unveiled plans to become carbon neutral and carbon negative, respectively, over the next 10 years.