How Businesses Are Confronting New Expectations

Yesterday at the Detroit Economic Club, Citi’s CEO Michael Corbat explained how the bank’s global businesses tackle social issues that impact its clients. He shared his belief that businesses have a responsibility to add value to the global community.

“I believe for our businesses to survive and thrive in today’s society, we need to help solve the societal challenges we all face,” Corbat said. “We cannot be on the sidelines. We need to have business models that make a positive impact on society and don’t rely solely on philanthropy to show we’re solid corporate citizens.”

From acknowledging and addressing income inequality, the affordable housing gap and climate change, Corbat encourages companies to see their role as creating value to shareholders and stakeholders so that our country and economy are both stronger.