The writer is chief sustainability officer of CPP Investments and chair emeritus ISSB Investor Advisory Group Milton Friedman’s famous doctrine on the social responsibility of business did not suggest ransacking the environment and abusing labour in the name of corporate profits. He implored companies to maximise the value of the enterprise “while conforming to the basic rules of the society, both those embodied in law and those embodied in ethical custom”.
National-level consultations on the adoption of these standards pose a dilemma for board directors.
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