Washington, D.C.– Gridlock in Washington is prompting more Americans to look to corporations to take a leading role in policy debates on challenges such as stagnant wages, improved public health, climate change, retirement security and gun safety. Unfortunately, it’s not clear that current corporate governance structures are prepared to take on these issues.
The Bipartisan Policy Center and the American Council for Capital Formation (ACCF) Center for Policy Research believe there is a real opportunity to improve corporate governance structures with a discussion anchored in evidence and which respects the legitimate views of competing interests. That is why the two Washington, D.C., think tanks are joining together to try and build a constructive center in this debate.
“A mismatch between current rules and aspirations is not serving workers, communities or shareholders,” Jason Grumet, president of the Bipartisan Policy Center, said. “Unfortunately, efforts to engage these complex questions are freighted with partisanship that is likely to grow worse as we head into the presidential elections.”
Activists often use corporate governance structures, such as proxy voting, to affect the decisions of investors and businesses on issues ranging from environmental protection to human rights. This trend raises questions about what the private sector’s role should be in addressing public policy issues.
“The politicization of corporate governance in recent years carries real consequences for investors and financial institutions,” ACCF President and CEO Mark Bloomfield said. “A bipartisan approach is critical to effectively address these issues. The ACCF is proud of its four-decade run of bringing a wide range of ideologies from both sides of the political aisle together to tackle issues like corporate governance. We are honored to join with BPC in this effort.”
In coming months, the two organizations will be holding public and private conversations to gather a variety of viewpoints to determine what is realistically possible on this timely issue.
TODAY: Watch our live webcast as experts discuss corporate governance’s increasing role in public policy at 9:30 a.m. ET at BPC