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Pope Francis is blessing a new business plan—his own.
Big business and the head of the Catholic Church are teaming up to promote some positive changes in the world. It’s called The Council for Inclusive Capitalism with the Vatican and includes a group that represents more than two trillion dollars in market capital and 200 million employees.
The council leaders, known as Guardians for Inclusive Capitalism, include the heads of Mastercard, Salesforce and Bank of America. According to The New York Times, they will meet once a year with Pope Francis and Cardinal Peter Turkson. Cardinal Turkson leads the Vatican department that deals with social issues.
The pledges made include committing to net zero carbon emissions by 2050 and working to improve various social issues. The Pope says an economic system capable of addressing the biggest challenges facing humanity and the planet is urgently needed.
The announcement comes after the Pope has blamed market capitalism for failing people during the pandemic.
Now we’ll see if these business titans can live up to their promises and get the Pope’s blessing.
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CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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"The Technology Tornado: Media & Communications in the Modern Era"
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August 28th, 2019
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