Hundreds of companies have declared their commitments to ESG values & practices - environment, social & governance - but whether or not they continue to do business in Russia in light of Russia's brutal invasion of Ukraine is revealing how real that commitment is.
For example, according to Yale’s list, 150 companies are leaving altogether, including Deloitte, McKinsey, Expedia, Live Nation and even the World Boxing Association gloves for guns”There are 178 companies keeping their options open to resume operations in Russia, including Amazon, Alphabet , Addidas, Volkswagen, Starbucks andUnilever was on the front lines of the corporate ESG movement when Paul Polman was CEO, but the Yale list only has them categorized as “scaling back,” along with Kimberly...
But the Ukrainians need those essentials too, and Russian troops are bombing stores and home where they have access to those products, and blockading access to humanitarian relief convoys that would provide those essentials to the Ukrainian people. What if Unilever, Kimberly Clark and Kellogg instead sent the products to Ukrainians for free? What if they pulled out of Russia, letting the Russian people know why they can’t get these essentials anymore?... [+]Yale lists 34 companies as “digging in,” remaining in Russia, including Bacardi, advertising powerhouse BBDO , Cargill, LG Electronics,, Schneider Electric and Subway.
What if instead of staying in Russia, Pirelli sent those tires to Ukraine for their vehicles, and to help the Ukrainians protect themselves from the Russian attacks? What if Subway sent all those sandwiches to feed the Ukrainians being deprived of food by the Russian troops and bombs?... [+]“To put it bluntly, will companies enact courageous ESG policies only when it does not hurt their bottom line?, Jaresko wrote in the FT.
The steps businesses take in light of this vicious attack on Ukraine – on millions of innocent people and entire cities, towns, homes and businesses – is lifting the veil on which companies genuinely believe and practice their ESG values, and which ones only profess to when it’s convenient.
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