ArticleProMarket (Stigler Center, University of Chicago Booth School of Business)

A Pro-Market Framework for Driving Decarbonization: Part I

Karthik Ramanna, 2025
https://www.promarket.org/2025/10/29/a-pro-market-framework-for-driving-decarbonization-part-i/

This article argues anthropogenic emissions are driven by customer preferences and that such preferences can shift with improved information, Karthik Ramanna advocates for a new approach: an economy-wide system of reliable and comparable accounts of the embedded emissions in products to allow customers (and investors) to make better-informed decisions aligned with underlying preferences.   

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The CPA-Zicklin Model Code
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ArticleHarvard Business Review
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This article introduces the concept of “net positive advocacy,” which involves working with partners to advocate for policy that supports systemic solutions and net positive outcomes for all competitors. This requires courage and a shift in mindset, but actually helps de-risk both sustainable business strategies AND political interactions for companies. Their Readiness Test tool provides a useful conversation starter about the change in mindset required. 

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Time to Succeed
2021

This guide outlines nine clear pathways—like net-zero emissions, circular economy, and inclusive societies—across key sectors including energy, mobility, food, and manufacturing, providing businesses a strategic roadmap to embed sustainability in governance and operations for a thriving 2050 within planetary limits.

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ReportWBCSD
Time to Transform
2021

In a major refresh of its Vision 2050, the World Business Council for Sustainable Development argues that the decade ahead is critical if we are to achieve “9+ billion people living well within planetary boundaries.” They highlight the need to shift political and economic incentives that push companies into short-term behaviors that undermine societal or environmental systems, and propose a new CPR-driven mindset where firms align all policy influence activities to purpose statements and sustainability goals, partner to generate new policy ideas and help ensure relevant stakeholders are at the table.

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Paul Washington & Merel Spierings, 2021

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VideoCorporate Political Responsibility Taskforce
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Karthik Ramanna of the University of Oxford, 2021
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VideoCorporate Political Responsibility Taskforce
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VideoCorporate Political Responsibility Taskforce
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VideoCorporate Political Responsibility Taskforce
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2020

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WebsiteBipartisan Policy Center
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The Business Alliance for Elections and Democracy is a nonpartisan coalition of companies committed to supporting secure, accessible, and trusted elections in the United States. It provides guidance and collaboration opportunities for businesses seeking to strengthen election infrastructure, employee civic participation, and public confidence in democratic processes.

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ReportCenter for Political Accountability
CPA-Zicklin Framework for Corporate Political Spending
Center for Political Accountability, 2020

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ArticleHBR
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ArticleCalifornia Management Review
Friedman @50: Is It Still the Social Responsibility of Business to Increase Profits?
Karthik Ramanna, 2020

This paper reflects on Friedman’s famous claim that American business should solely be driven to increase profits. Oxford Professor Karthik Ramanna homes in on the qualifying clause of Friedman’s argument—that markets need non-market institutions to safeguard the conditions for competition—and that if corporations have influence in shaping the market, then it is not free. The report argues that corporate influence on the political landscape has tilted in their favor, often at the expense of the public sphere.

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