Council for Inclusive Capitalism
institutionThe Vatican & Religious Power
A group that says it wants to fix capitalism is the same group that writes the rules big banks now follow.
Who they are
The Council for Inclusive Capitalism, launched in partnership with the Vatican.
What they do
It provides the ideological framework that commits major financial institutions to ESG metrics and climate targets.
How it works
It is presented publicly as a plan to redesign markets so they serve many stakeholders, not just shareholders. In practice, it commits major financial institutions to ESG metrics and climate targets. It was launched with the Vatican, and says its work is under the moral guidance of Pope Francis. A New Economics Foundation alumnus sits on the council, and that affiliation is listed on the council's website. It shares institutional membership with the Basel Committee, which implements Basel capital rules.
Why it matters
It shows how a body that talks about moral and market reform also sets the standards that major financial institutions are committed to follow.
The engine's record — word for word
The corpus records: "The Council for Inclusive Capitalism provides the ideological framework , committing major financial institutions to ESG metrics and climate targets." It is presented publicly as: "Inclusive Capitalism, promoted by initiatives like the Council for Inclusive Capitalism, proposes redesigning market systems to serve multiple stakeholders rather than primarily shareholders." Documents named in the corpus: ESG metrics; climate targets. Cross-sourced to catholicnewsagency.com, inclusivecapitalism.com — documents cited by the corpus and retrieved independently of it.
Follow the trail
documents
Vaticanlaunched with the Vatican [Mansion House] — does not establish: That the Vatican directs the Council's financial standards.
documents
New Economics FoundationNEF alumnus sits on the council; NEF affiliation listed on council website [Mansion House] — does not establish: That NEF as an institution governs the Council.
documents
Basel Committeeshared institutional membership implementing Basel capital rules — does not establish: That the Council writes or enforces Basel rules.
documents
Wolfsberg Groupshared institutional membership implementing Wolfsberg AML standards — does not establish: That the Council writes or enforces Wolfsberg standards.
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