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Illustration: Aïda Amer/Axios

Walmart, which first banned assault weapon sales and now vaping products, is providing a template of how CEOs can move beyond a monomaniacal focus on profits.

Why it matters: It’s one thing to sign an unenforceable pledge to think more about employees and society, like most members of the Business Roundtable did. It’s another to take specific action while politicians dither.

In conversations with a half-dozen CEOs this week, we were stunned by how much pressure business leaders are feeling to take social action. If so, here’s what they can do:

  • JPMorgan Chase, Starbucks, Walmart, Amazon and many others increased their minimum wage [Updated]. Every CEO has the power to do this.
  • Delta Airlines returns billions in profits to employees — this year, a bonus equal to 14% of their annual pay — and has grown since making this change. Every company can do this. 
  • Amazon this week became the first to sign The Climate Pledge to be net zero carbon across the businesses by 2040 — a decade ahead of the Paris Accord's goal of 2050. An individual company can’t put a dent in overall pollution — but a bunch might.
  • Stripe, the online payment platform, announced last month that it plans to spend at least $1 million a year to pay for direct removal of carbon dioxide from the atmosphere. Stripe said in its emissions announcement: "For other companies: Please reach out to Stripe to join our commitment."
  • Bank of America last year stopped lending money to makers of military-style assault weapons.
  • Dick’s Sporting Goods paid a price in its earning after it initially made it harder to buy firearms in its store, but then went even further this year.

What else can be done:

  • They could also limit CEO pay if they wanted to narrow the gap in their own shop. 
  • All retailers control what’s on their shelves, so if they want to eliminate AR-15s, or vaping, or whatever — free enterprise permits it.
  • All companies control child care, family leave and health policies and can be as generous as they choose. 

The big picture: The new public assertiveness by corporations follows an earlier wave, after President Trump took office, of CEOs taking stands on immigration, climate, gender equality and other issues that their predecessors avoided.

  • Apple's Tim Cook, who has become increasingly vocal, said at a Fortune conference last year: "Apple is about changing the world. It became clear to me some number of years ago that you don’t do that by staying quiet on things that matter."

The bottom line: The pressure on CEOs from employees, customers and communities seems to only be intensifying.

Go deeper:

Go deeper

32 mins ago - World

Netanyahu campaigns against Biden's plan to save Iran deal

Netanyahu campaigns at a gym last month. Photo: Pool/AFP via Getty

Israeli Prime Minister Benjamin Netanyahu indirectly criticized the Biden administration for its intention to return to the Iran nuclear deal and told his supporters he was prepared to "stand against the entire world" to stop it.

Why it matters: This is a major change of tune for Netanyahu, who had been careful in his statements on the Iran deal and avoided publicly criticizing President Biden. The statement was part of Netanyahu's attempt to rally his base ahead of Israel's election on March 23.

Updated 55 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Tech: "Fludemic" model accurately maps COVID hotspotsVirtual doctor's visits and digital health tools take off.
  2. Politics: Schumer says Senate will stay through weekend to vote on COVID relief — Republican governor of West Virginia says there's no plan to lift mask mandate.
  3. World: Canada vaccine panel recommends 4 months between doses.
  4. Business: Firms develop new ways to inoculate the public.
  5. Local: Ultra-rich Florida community got vaccinations in January.
Dan Primack, author of Pro Rata
2 hours ago - Economy & Business

Why fears of a SPAC bubble may be overblown

Illustration: Annelise Capossela/Axios

The SPAC surge continues unabated, with 10 new ones formed since Wednesday morning. And that's OK.

Between the lines: There are growing concerns that retail investors are about to get rolled, with smart sponsors taking advantage of dumb money.