On the sidelines of the World Economic Forum in Davos, Card-inal Peter Turkson reflects on the importance of entrepreneurs wor-king to change business practices and goals in order to promote the economic integration of people enduring poverty.
Global leaders need to adopt a transformative approach to economics so that people facing economic hardship may be lifted out of poverty.
As he attended the World Economic Forum in Davos, Card-inal Peter Turkson, Chancellor of the Pontifical Academy of Sci-ence, emphasised this aspect of Pope Francis’ message to global leaders.
Speaking to Vatican News’ Mario Galgano, Cardinal Turkson highlighted the importance of changing the goals of leadership within companies, as well as the imperative for businesses to con-tribute to society beyond their own profit maximization.
The Cardinal stressed that although companies traditionally exist to make profits, they should also align their business objectives with values that benefit society and the common good.
For this reason, the Cardinal proposed a shift from maximizing profit and returns to optimising them, urging businesses to con-sider the broader impact they have on society and human life.
“We want to leverage the obje-ctives of busines–not only profit and monetary gain–but also the transformational value that it bri-ngs to society–making life better, worth living, equitable, and inclu-sive,” said Cardinal Turkson.