Baku:Hoffmann, co-chair of the World Economic Forum (WEF) board of trustees and vice-chairman of Roche Holding AG, emphasized the limitations of the current capitalist model, which prioritizes short-term shareholder returns.

According to BERNAMA News Agency, Hoffmann highlighted the need for businesses to recognize the costs of exploiting natural resources, as explained by Johan Rockström. He stressed the importance of integrating nature into business practices to maintain prosperity, warning that neglecting natural and social capital could lead to instability. He urged businesses to assess their impact on human, natural, and social capital to manage risks effectively.

Hoffmann advocated for ASEAN economies, such as Malaysia, to transition towards circular and regenerative economic models, learning from past mistakes and focusing on regenerating nature. He pointed out the opportunity for high-growth regions to avoid exploitative practices and give back more to nature than they take.

Addressing the global backlash against Environmental, Social, and Governance (ESG) criteria, Hoffmann acknowledged the reporting burdens but underscored the importance of sincere and competent ESG integration. He called for stronger public-private partnerships and regulatory frameworks, suggesting that business success should be measured by societal contributions rather than financial outcomes alone.