Business and Policy Leaders Launch Worldwide Initiative to Promote “Responsible, Inclusive and Ethical” Capitalism

Henry Jackson Initiative to Host New York City Launch Event Led by McKinsey’s Dominic Barton and Lynn Forester de Rothschild on October 11, 2012

NEW YORK--(BUSINESS WIRE)--A bi-partisan group of business, policy and academic leaders from the United States, Canada and Britain—including Dominic Barton, Glenn Britt, Sir John Peace, Lady Lynn Forester de Rothschild, Lawrence Summers, Laura D’Andrea Tyson and others—will launch a global initiative on Thursday, October 11 in New York City to promote a more responsible, sustainable and inclusive capitalist system. The group will also announce new commitments from influential businesses and organizations in support of those objectives.

“The friction we see today between business and society cannot continue without great harm to both”

The Henry Jackson Initiative for Inclusive Capitalism (HJI) calls for international collaboration from businesses and other organizations to encourage the widest possible adoption of programs that improve capitalism as a driver of well-being for all of society. By highlighting, promoting and uniting innovative business initiatives, the HJI is working to amplify the impact that businesses can make by building a more inclusive capitalism in which the benefits are more broadly shared by all.

The New York event follows the London debut of the HJI, which took place on May 14, 2012 and introduced the initiative’s inaugural report, Towards a More Inclusive Capitalism.

“The friction we see today between business and society cannot continue without great harm to both,” said Dominic Barton, Global Managing Director of McKinsey & Company. “We must redefine the way we govern, manage and lead corporations for long-term growth. The all too common belief that the ‘business of business is business’ isn’t true to the origins and strength of capitalism and it isn’t helpful for either business or society today. Business and society are integral: both must be healthy for either to thrive. This is the focus of the Henry Jackson Initiative’s efforts—to promote collaboration to address these pressing issues.”

“Capitalism is under siege, but the HJI believes that it remains the most powerful economic system we have for raising people out of poverty and improving societies,” said Lynn Forester de Rothschild, CEO of EL Rothschild. “Industry, innovation and enterprise must be anchored by an ethical, responsible and inclusive capitalist system. We started this initiative to foster debate and dialogue about how capitalism can be improved, and to highlight the many excellent efforts of businesses that are taking the lead in the areas that most need improvement. We’ve already begun showcasing concrete programs that will create a demonstrable impact on the future of capitalism, and we are committed to expanding our efforts in the U.S. and around the world. We hope to include all stakeholders in this effort, from managers to investors to employees to customers and to society at large.”

The following speakers are confirmed for the New York event, which will be hosted at Bloomberg’s headquarters:

• Dominic Barton, Global Managing Director, McKinsey & Company
• Glenn Britt, Chairman and CEO, Time Warner Cable Inc.
• Kay Koplovitz, Chairman and CEO, Koplovitz & Co.
• Sir John Peace, Chairman, Burberry, Experian and Standard Chartered
• Lynn Forester de Rothschild, CEO, EL Rothschild
• Lawrence Summers, President Emeritus and Charles W. Eliot Professor, Harvard University
• Laura D’Andrea Tyson, S.K. and Angela Chan Professor in Global Management, Haas School of Business, University of California Berkeley

Led by Dominic Barton, Global Managing Director of McKinsey & Company, and Lynn Forester de Rothschild, CEO of EL Rothschild, the October 11 event will focus on a number of new and ongoing, tangible commitments being made as a result of the HJI’s momentum and previous work. Those commitments include a multi-year, cross-national study by the Peterson Institute for International Economics, supported by the de Rothschild family foundation, on how differences in business practices affect the globally observed rise in income inequality and decline in social mobility. The HJI will also announce a sponsored prize on youth unemployment.

The event will also highlight independent initiatives working towards the same goal, such as WORKing for YOUth, a corporation-led initiative creating jobs for youth and Time Warner Cable’s ‘Connect a Million Minds’ program to inspire the next generation of problem solvers.

About the Henry Jackson Initiative for Inclusive Capitalism:

The Henry Jackson Initiative for Inclusive Capitalism (HJI) is a center for thought leadership, policy recommendation and the promotion of business initiatives that work towards the goal of Inclusive Capitalism. It grew out of the Henry Jackson Initiative Task Force project for Inclusive Capitalism, which is co-chaired by Dominic Barton, Global Managing Director of McKinsey, and Lady Lynn Forester de Rothschild, CEO of EL Rothschild. Additional members of the Task Force include Jon Huntsman, Jr., Jim Leech, Charlie Mayfield, Adam Posen, and many others. The HJI is independent and non-partisan with membership that represents a diverse group of business leaders, policy makers and corporates. The Henry Jackson Initiative for Inclusive Capitalism aims to become the ‘go-to’ place for policy formation and business leadership on the challenges of 21^st century capitalism. For more information, please visit: www.HenryJacksonInitiative.org.