It made all the difference to have at the heart of the 50th Annual Meeting of the World Economic Forum (WEF) a revitalization of the WEF’s Global Manifesto — and a re-commitment to the principles of multi-stakeholder business values. The Manifesto reminds of the role business plays to provide for society, optimal goods and services in a free market environment. It reminds of the role business plays as a trustee of the material universe — natural resources — for future generations and as a steward of best resource management practices. The Davos Manifesto recognizes that successful and sustainable global business must operate with a social and ecological consciousness — valuing both human and natural capital, or else collapse in the wake of serial short-term decisions. There is a growing awareness that short-term, entirely profit based, commodity-driven decisions in aggregate eventually erode the human-nature foundation upon which all business enterprises with real value to exchange, stand.

“The purpose of professional management is to serve clients, shareholders, workers, and employees; as well as societies, and to harmonize the different interests of the stakeholders.” Davos Manifesto 1970