Mike Bloomberg Urges CEOs to Invest In Sustainable Businesses
Originally posted on Corporate Compliance Insights
Many investors and senior business leaders are growing increasingly frustrated by the lack of disclosures associated with “quarterly capitalism.” The truth is, investors are looking at companies to provide disclosures around environmental, governance and social risks that would encourage rational long-term capital allocation. This was one of the many areas of focus at Bloomberg’s 2nd Annual Sustainable Business Summit this year. The company’s founder and three-term Mayor of New York City, Michael R. Bloomberg, took the stage to discuss the value of sustainable business and how CEOs, investors, government officials and other key stakeholders can collectively contribute to long-term value creation that is good for society.
“The sustainability challenge is good for business,” said Bloomberg during his opening keynote at the Summit. “When investors are talking to money managers, they separately ask about [business] performance—but before they do that—they want to know about what kind of investments they are making.” Bloomberg went on to explain the reasoning behind this. He said, “beneficiaries want their money invested in a socially responsible way so it’s good for business, it’s good for the planet and families.”
The two-day summit brought together a unique blend of thought leaders, financial decision-makers and global executives who were focused on one common agenda: driving sustainable business to create long-term value.
