The virtuous corporation is not an oxymoron

AT A TIME when the federal government is doing little to nothing on matters of great public concern - gun control, paid parental leave, higher wages, you name it - the corporate sector has been urged, pushed and sometimes shamed to fill in the gaps.

This year, Amazon decided, under pressure, to raise wages for its employees. Carmakers have voluntarily agreed to preserve higher emission standards. Walmart vowed this month to stop selling certain types of ammunition. And corporate leaders like Chip Bergh of Levi's and Timothy Cook of Apple have been speaking out on political issues, suggesting a broader, more public vision of what the corporation is for. It's all part of a trend towards "corporate virtue".

This is a loosely organised movement that encompasses various efforts to promote or make high-minded policy changes. It also includes a commitment to so-called stakeholder capitalism (as opposed to shareholder capitalism), in which companies operate in the interests not just of stock owners but also of employees, suppliers, customers and the communities to which they belong.