Global business leaders join in developing long-term reporting framework

29 June 2017
Hendrik du Toit, CEO of Investec Asset Management

Hendrik du Toit, CEO of Investec Asset Management

Hendrik du Toit, CEO of Investec Asset Management, has joined over 20 leading global CEOs in spearheading a new approach to improve the way businesses report. This encourages firms to clearly demonstrate their contribution to sustainable long-term value creation for society.

Convened by the Coalition for Inclusive Capitalism and EY, the companies represent over US$20 trillion of assets under management. The project will develop and test a new framework to better reflect the full value companies create and how they impact the world around them. 

Du Toit commented, "It is a great privilege to work with an exceptional group of business leaders on this project. We need to work towards a more inclusive and long-term oriented form of capitalism without sacrificing the dynamism, creativity and freedom associated with this system." 

The initiative was launched at the Aspen Ideas Festival by Lady Lynn de Rothschild, cofounder of the Coalition for Inclusive Capitalism, and Mark Weinberger, EY Global Chairman and CEO. The 18-month project will see six organizations from across consumer products, health services and the industrials sector, in addition to 17 investment and asset management companies scrutinize, test and refine a framework that has been developed by EY.  

Lady Lynn de Rothschild, Co-Founder of the Coalition for Inclusive Capitalism, says: “Leading multinationals and financial institutions have come together to address this pressing need. By taking a broader view of an organization – its purpose, products, people and planet – companies are more likely to prosper over the longer term and curb short-term behaviour. This is not just another siloed ESG initiative, it goes well beyond the P&L and attempts to properly value a firm’s intangible strategic assets.” 

The participants include

  • Lady Lynn de Rothschild, CEO of the Coalition for Inclusive Capitalism
  • Mark Weinberger, EY Global Chairman and CEO
  • Hywel Ball, UK Head of Assurance, EY
  • Martin Gilbert, Co-Founder and CEO, Abeerdeen Asset Management
  • Mark Bertolini, Chairman and CEO, Aetna
  • Oliver Bäte, CEO, Allianz
  • Laurence Fink, Chairman and CEO, BlackRock
  • Jack Ehnes, CEO, CalSTRS
  • Edward Breen, CEO, DuPont
  • Abigail Johnson, Chairman and CEO, Fidelity Investments
  • Hiro Mizuno, Executive Managing Director and Chief Investment Officer, Government Pension Investment Fund (GPIF)
  • Deanna Mulligan, President and CEO, The Guardian Life Insurance Company of America
  • Hendrik du Toit, CEO, Investec Asset Management
  • Alex Gorsky, Chairman and CEO, Johnson & Johnson
  • Jamie Dimon, Chairman and CEO, JPMorgan Chase & Co.
  • Mark Schneider, CEO, Nestlé
  • George Walker, CEO, Neuberger Berman
  • Adrian Orr, CEO, New Zealand Superannuation Fund
  • Indra Nooyi, Chairman and CEO, PepsiCo
  • Peter Harrison, Group CEO, Schroders
  • Ronald O’Hanley, CEO, State Street Global Advisors
  • Roger Ferguson, President and CEO, TIAA
  • Paul Polman, CEO, Unilever
  • Bill McNabb, Chairman and CEO, Vanguard
  • Theresa Whitmarsh, Executive Director, Washington State Investment Board
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