Vatican welcomes Ayala Corp in inclusive capitalism council

Published February 19, 2021, 6:30 AM

by James A. Loyola

Ayala Corporation Chairman and CEO Jaime Augusto Zobel de Ayala has been welcomed into the Council for Inclusive Capitalism by the Vatican and the global non-profit coalition of business and public sector leaders.

The council is working to build a “more trusted, fair, responsible, dynamic, and sustainable economic system that addresses the needs of people and planet.”

Ayala Corporation Chairman and CEO Jaime Augusto Zobel de Ayala (Ayala Corp / MANILA BULLETIN)

Ayala is the first business group from the Philippines to be represented in the Council. 

“I am thrilled to welcome these new members as they take the necessary actions to ensure a better future for us all,” said Meredith Sumpter, CEO of the Council for Inclusive Capitalism.

Sumpter added that, “Whether you are a small-town grocer, or a CEO of a global corporation, we all have a role to play to build more inclusive economies and societies.” 

Launched in December 2020, the “historic collaboration of CEOs and global leaders” was provided moral guidance by His Holiness Pope Francis and the Vatican through His Eminence Cardinal           

Peter Turkson of the Dicastery for Promoting Integral Human Development. It serves as a forum for interaction and sharing best practices, and a core group of guardians for inclusive capitalism.

Guardians include leaders of the United Nations, Ford Foundation, Rockefeller Foundation, Bank of America, Ernst & Young, and Mastercard, among others.

Hailed by the UN Global Compact as a Sustainable Development Goals pioneer, Zobel is among the 17 new stewards of the council–business and investment leaders from around the world working to “change capitalism for good” via measurable public commitments toward more inclusive and sustainable practices. 

“All of us who thrive on the success of capitalism need to have a sense of responsibility and empathy to counteract the forces of inequity that the system also creates,” Zobel said.

He added “We need to collectively harness our resources, ingenuity, and energy to align our institutions to the broader, progressive development goals of humanity, in general, and our host communities.”

 Last year, Zobel was also named co-chair of Trade and Investment Taskforce at B20 Saudi Arabia, the official voice of the global private sector to the G20.

As part of the Taskforce leadership, he has been an instrumental part of the policy formulation process, providing his continuous guidance and expertise to other leaders and members.

 “I believe that no challenge is insurmountable if we harness our collective ingenuity and energy, most especially when we are driven by a shared commitment to make a meaningful difference in the lives of people; and the future of our children and our planet. The Council for Inclusive Capitalism is an excellent coalition to push this agenda forward, and I am committed to contribute and to learn,” Zobel said.