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Fortune

Lucy Brewster

Bank of America CEO defends stakeholder capitalism amid political backlash

Brian Moynihan Bank of America

(Credit: Rebecca Greenfield for Fortune)

Can companies reap in profits while aligning their business goals with sustainability targets? According to Bank of America CEO Brian Moynihan, the answer is not only that they can, but they should. Moynihan addressed how Bank of America is enacting “stakeholder capitalism” while speaking at Fortune’s CEO Initiative in Palm Beach last week.

“The world has told us what they want from all of us in development—that’s sustainable development goals,” said Moynihan on Nov. 2, explaining that there is a sizable demand among investors for companies that support the renewable energy transition.

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