JP Morgan Chase & Co. Chairman and CEO Jamie Dimon’s Letter to Investors is the Latest in a Continuing “Drumbeat from Leaders Making a Strong Business Case for Corporate Citizenship”
Fairfax, VA – Despite divisive politics in which ESG, DEI, and CSR initiatives are increasingly finding themselves under attack, leading executives of America’s top companies continue to speak out in support of corporate responsibility ahead of annual stakeholder meetings during the 2023 financial reporting season.
As corporations make public financial disclosures for the first quarter in accordance with SEC requirements, JP Morgan Chase & Co Chairman and CEO Jamie Dimon is the latest executive to support corporate responsibility stating in his 2023 letter to shareholders, “research has shown that purpose-driven companies achieve stronger business results and have greater impact by doing better for their customers, employees and shareholders.”
“As one of the world’s largest financial institutions, JP Morgan Chase Chairman and CEO Jamie Dimon is in a growing chorus of executives in 2023 who continue to double down on making a strong business case for corporate citizenship,” said Carolyn Berkowitz, president and CEO of the Association of Corporate Citizenship Professionals (ACCP), the nation’s leading advocate for corporate social impact professionals.
“The political pushback against ESG by politicians more interested in elections than sound policy is being rejected in the boardrooms of America’s top corporations because the data clearly shows that being good corporate citizens is good for business. It’s time for politicians weaponizing the ongoing movement towards diversity, equality & inclusion and environmentalism to drop the charade and join America’s top CEOs who are strengthening our economy by comprehensively addressing income inequality.”
About the controversy, Dimon said “As a free-enterprise and free-market capitalist…” he “finds nothing inconsistent with the multifaceted ways we use our capabilities to lift up our communities.”
“In his annual letter to stakeholders, Dimon links the competitiveness of the U.S. and his company to policies, investments, and practices that uplift communities, power economic growth, and re-establish the American promise of providing equal access to opportunity for all. Despite an uncertain economy, corporate leaders in all industries should heed Dimon’s advice and continue strong investment in the functions within their companies that ignite their corporate responsibility strategies.” concluded Berkowitz.
A report from KPMG last year illustrated the real impact of investing in CSR and ESG efforts. The report concluded: “With the potential recession testing CEOs’ commitment to their ESG strategies, reducing investment may lead to long-term financial risks. This test comes at a time when CEOs have made significant strides in tying ESG to profitability, with 70% of U.S. CEOs saying that ESG improves financial performance, compared to 37% last year.”
ACCP recently released its 4th annual Making the Case for CSR toolkit aimed at supporting organizations and companies’ journey to implementing CSR and ESG initiatives.
FOR IMMEDIATE RELEASE: Monday, April 10, 2023
CONTACT: Jeanne Metzger | Vice President of Communications
Association of Corporate Citizenship Professionals
jeanne@accp.org | 202-796-5881
