Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

Look beyond profit to heal 'lacerated world', pope tells Davos leaders

Published 01/17/2024, 06:28 AM
Updated 01/17/2024, 06:31 AM
© Reuters. FILE PHOTO: Pope Francis leads the Angelus prayer at the Vatican, January 7, 2024.   Vatican Media/­Handout via REUTERS

By Philip Pullella

VATICAN CITY (Reuters) - Pope Francis on Wednesday urged political, economic and business leaders at the World Economic Forum (WEF) in Davos to look beyond profit and try to heal an "increasingly lacerated" world with moral and ethical decisions.

In his message to the world's movers and shakers meeting at the Swiss resort, Francis urged them to tackle the "injustices that are at the root causes of conflict", primarily hunger and the exploitation of natural resources for the benefit of the few.

"Sadly, as we look around, we find an increasingly lacerated world, in which millions of persons – men, women, fathers, mothers, children – whose faces are for the most part unknown to us, continue to suffer, not least from the effects of prolonged conflicts and actual wars," Francis, 87, wrote.

Francis, who has made defence of the poor and immigrants one of the hallmarks of his 11-year-old papacy, said globalization must have a "fundamentally moral dimension" in economic, cultural and political discussions taking place at the WEF.

States and businesses had to join together in promoting "far-sighted and ethically sound" models of globalization that place the common good over the "pursuit of power and individual gain," he said.

"How is it possible that in today's world people are still dying of hunger, being exploited, condemned to illiteracy, lacking basic medical care, and left without shelter?" he asked.

The Argentine-born pope, the first from the Global South, said the world situation required that "businesses themselves be increasingly guided not simply by the pursuit of fair profit, but also by high ethical standards".

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

The "widespread exploitation" of male, female and child labourers with low wages and no real prospects for personal and professional development must stop, he said.

"It is my hope, then, that the participants in this year’s Forum will be mindful of the moral responsibility that each of us has in the fight against poverty, the attainment of an integral development for all our brothers and sisters, and the quest for a peaceful coexistence among peoples," he said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.