Has the business world found its purpose? Trust, but verify

(This article was published by City AM)


Last week’s Davos carnival was an orgy of virtue signalling. A group of senior executives flew in on private jets to talk about how to tackle climate change. 

Leaders of companies that have been highly active in lobbying for corporate tax breaks signed a letter calling for higher taxes on the rich if we are to avoid the proletariat marching onto the streets with pitchforks. 

Blackrock boss Larry Fink issued another letter calling for a massive shift to a stakeholder economy, even as an executive from a major company let slip that, in meetings with the investment management firm, they were never once asked about ESG issues. 

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