Top U.S. CEOs say companies should put social responsibility above…

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Corporate America is responsible for providing economic benefits to all, not just its investors, the Business Roundtable group said on Monday.

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NEW YORK (Reuters) – Corporate America is responsible for providing economic benefits to all, not just its investors, the Business Roundtable group said on Monday.

FILE PHOTO: JPMorgan Chase CEO Jamie Dimon speaks at the North America’s Building Trades Unions (NABTU) 2019 legislative conference in Washington, U.S., April 9, 2019. REUTERS/Jeenah Moon

One investor group, the Council of Institutional Investors, criticized the group’s statement, saying that “accountability to everyone means accountability to no one.” Investors are a positive force pushing companies to focus on long-term performance, it said.

“It is government, not companies, that should shoulder the responsibility of defining and addressing societal objectives with limited or no connection to long-term shareholder value,” the Council said.

The AFL-CIO labor group did not immediately reply to a request for comment on the Business Roundtable’s statement.

Reporting By Elizabeth Dilts; editing by Jonathan Oatis and Dan Grebler


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Corporate America is responsible for providing economic benefits to all, not just its investors, the Business Roundtable group said on Monday.

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