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How Business Can Restore Public Trust

Good morning.

I’m in Rome this morning for the Fortune+Time Global Forum, which is taking on an exceptionally broad but important topic: What can business do to address global economic and social problems, create a more inclusive economic system, and restore the public’s trust in it? The audience of roughly 100 people is mostly made up of Fortune Global 500 CEOs – but also includes other private-sector thought leaders.

Cardinal Peter Turkson, who has been tasked by Pope Francis to take on a broad portfolio of issues related to human development, was one of the first to address the group. Asked by interviewer Charlie Rose how he thinks about the tension between shareholders and stakeholders, Cardinal Turkson said “the character of business depends on more than the people who bring the money. We encourage a holistic view of business and its activity. Everything that happens should serve the well being of the human person.”

This afternoon, the CEOs will break into working groups to discuss specific actions the private sector can take to address a number of pressing global problems, including job creation, global health, food and water scarcity, financial inclusion and environmental issues. The actions they agree on will be presented tomorrow to Pope Francis, who will address the group.

We’ll be reporting on this important event all day on, and I’ll do my best to summarize the results in Monday’s CEO Daily.

More news below, and enjoy your weekend.