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Davos reboots for 'stakeholder capitalism' beyond the profit motive

Ahead of its annual meeting, the World Economic Forum urged businesses to elevate the importance of doing good.

The World Economic Forum in Davos, Switzerland
The World Economic Forum in Davos, Switzerland (AN/GCIS)

GENEVA (AN) — Ahead of its annual gathering in the Swiss mountain resort of Davos, the World Economic Forum released a universal mission statement for 21st century businesses that elevates the importance of doing good.

WEF said on Monday that its new "Davos Manifesto," titled "The Universal Purpose of a Company in the Fourth Industrial Revolution," is a call to put considerations about our planet and society on par with profit motives. The updated ethical principles coincide with the international organization's 50th anniversary.

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