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WEF in Singapore

'Stakeholder capitalism' rises as likes of Sony and Mahindra commit

Davos' pet concept wins over 60 converts in winter of COVID discontent

Commuters in New Delhi: The economic ravages of COVID-19 have raised concerns about global inequality and fueled criticism of capitalism, spurring a push for a better way.   © Reuters

TOKYO -- Pushing back against criticism that capitalism is a source of global problems, the World Economic Forum this week presented it as a solution, as some of the biggest names in business embraced new standards for corporate responsibility.

Over 60 international companies are set to introduce new environmental, social and governance, or ESG, reporting metrics -- akin to standard financial reporting.

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