Zeitz (pictured) said: “We need a fundamental paradigm shift in the way we think and act beyond CSR” when delivering the keynote speech at the FTArcelorMittel Boldness in Business Awards yesterday (16 March).
“CSR is an obsolete idea and we cannot delegate responsibility to one department. We have to do more good rather than just less bad.”
He said: “We corporations are part of the problem because our current economic model that was organised in the industrial revolution is not working with but against nature.”
He pointed out that many shareholders were beginning to ask companies to behave in even more sustainable ways and added that “a bold business is one that takes sustainability into the centre of its mission.”