Hello, I'm Ed Butler and welcome to Business Daily from the BBC.

Today, is it time to reinvent capitalism for the modern age?

The talent really wants to know what is the company that they're coming to work for

or that they already work at really stand for beyond just, of course, making a profit.

We're hearing from two bosses of global brands

who are hoping to take the priority out of profit.

Capitalism has to move on and be much more mindful

of the impact that it has on society and the planet.

And over time, the consumer will demand

that those types of factors are priced in.

That's all to come on Business Daily from the BBC.

Over the last decade, in fact, since the start of the global financial crisis,

we've seen some considerable hand-wringing, haven't we, over what went wrong,

and how the very design of capitalism is somehow to blame. Well, in a recent report

by the influential UK institution, the British Academy, the design of the corporation itself

is actually at the heart of this problem. Corporations need to reinvent themselves, the Academy

argues, if we are to address the world's most urgent challenges, like

growing economic inequality and climate change. What does that mean in practice? So Colin Mayer is

the report's author. We're not going to solve the problems about the environment, social

inequality, unless we fundamentally change the objective of business. Government itself does not

have the capability of solving these problems. You just have to think about the resources that we're

talking about. A hundred trillion dollars of assets under management in private corporations of listed companies in the world.

...