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Photo: Olivier Douilery/AFP via Getty Images

Nick Merrill and Dan Schwerin, co-founders of Evergreen Strategy Group, write in Fast Company that if Joe Biden wins, "expectations for what it takes to be a values-driven company will increase."

The state of play: "Without the foil of President Trump, ... CEOs will have to back specific policy proposals, build coalitions, and put real political muscle behind their principles."

Merrill and Schwerin, who were top Hillary Clinton aides, have these lessons for the next phase of "stakeholder capitalism":

  1. "If Biden replaces Trump, there will be fewer easy chances to express outrage and more hard choices to make about specific policies and legislation that could become law."
  2. "CEOs who want to be seen as leaders will have to use their market power — not just their voice — to drive systemic change."
  3. "There’s going to be more scrutiny of companies when their campaign contributions and lobbying budgets contradict their stated values."

The bottom line: "Companies doubling down on their values right now are proving more resilient in the current crisis, just as they did in the last recession."

Go deeper: CEOs are America's new politicians

Go deeper

Hillary Clinton rips GOP senators: They seem like they've had a "lobotomy"

Hillary Clinton criticized her former Republican colleagues for their responses to the explosive findings in the Senate Intelligence Committee's report on 2016 Russian interference, accusing them of giving up "their principles, their values, their backbone" to follow President Trump.

Why it matters: The fifth and final volume of the committee's report released this week went further than the Mueller report in showing the extent of Russia's connections to members of the Trump campaign. But the reactions to the findings were starkly divided along partisan lines, with Republicans claiming that the report puts an end to any claims of Trump campaign "collusion" with Russia in 2016.

Tina Reed, author of Vitals
41 mins ago - Health

Experts fear a bad flu season on top of COVID

Illustration: Sarah Grillo/Axios

Public health officials are warning that the U.S. may be on the verge of a dangerous double whammy: COVID and flu, spreading simultaneously.

The big picture: The Delta variant is still circulating across the U.S., and the Omicron variant isn't far behind. On top of that, experts see potential warning signs of a bad flu season, which could leave millions of Americans vulnerable and strain health care resources.

Updated 2 hours ago - World

Australia joins U.S. in diplomatic boycott of Beijing Winter Olympics

Australian Prime Minister Scott Morrison. Photo: Darrian Traynor/Getty Images

Australia is joining the U.S. in a diplomatic boycott of the 2022 Beijing Winter Olympic Games in protest of human rights abuses committed by China's government, Prime Minister Scott Morrison confirmed Wednesday.

Driving the news: After the Biden administration's announcement that U.S. officials won't attend the Games due to the ongoing genocide of Uighurs and other Muslim minorities in the Xinjiang region of China, Morrison said at a Sydney briefing that Australia would follow suit as "it's the right thing to do."