Harvard researchers say signatories have made few changes in company documents that indicate a corporate purpose favouring stakeholders.

Is the shift to stakeholder primacy real—or a PR exercise? Plus change at the top for the Institute of Directors; confirmation of the Biden–Harris ticket; and bad news for ESG.

Governance has been dominated by the debate over shareholder primacy vs stakeholders. But US companies show little sign of changing tack.

An imagined dialogue between Milton Friedman, the economist who has come to represent the shareholder primacy world view, and Socrates.

Only 25% of people polled believe capitalism “ensures the greater good of society”, with 80% saying the pandemic has revealed “acceptable and unacceptable corporate behaviour”.

Harvard academics argue that the only way to make the group’s stated stakeholder commitments enforceable is for the firms to become benefit corporations.

This year saw the climate crisis accepted as a board-level issue, audit reviews, a UK election and a new focus on human rights and business purpose.

A campaign group has lodged a shareholder resolution demanding BlackRock reports on how it will shift its priorities from “shareholders” to “stakeholders”.

The US Business Roundtable’s recent letter saw scores of chief executives sign up to a stakeholder model of governance. Around the world commentators have offered their analysis of the decision.

Business Roundtable, a body whose members include the chief executives of Accenture and Amazon, has issued a new set of principles on corporate purpose and sustainable business strategy.