The limits of the pursuit of profit

Companies are trying to define a broader purpose for their business, but the exercise is fraught with risks

French multinational food firm Danone's shift to using non-genetically modified organism ingredients in its products is one sign of a powerful shift in the way large firms think about their purpose and responsibilities - and an example of the challen
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In February 2016, Mr Emmanuel Faber, chief executive of French multinational food company Danone, put a radical proposal to its senior US executives at a meeting in White Plains, New York.

Against the grain of agricultural production in the United States, where the vast majority is genetically modified, he proposed shifting about half of Danone's products - representing some US$1 billion (S$1.4 billion) of yogurt sales - to non-GMO (non-genetically modified organism) ingredients. He argued that this was an important change that would improve soil health and biodiversity.

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A version of this article appeared in the print edition of The Straits Times on September 25, 2019, with the headline The limits of the pursuit of profit. Subscribe