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Slacktivist Investing: How Corporate Activism Goes Wrong

Slacktivist Investing: How Corporate Activism Goes Wrong 9geezyone 3 Views • 1 year ago

Today, many major corporations spend just as much time telling you about the good they do in the world as they do pitching you products. Which sounds great, but … are these “ethical” companies actually making the world a better place? For all the talk of corporate responsibility, many companies’ actions don’t match their purported values.

Let’s consider some of the evidence. Maybe you’re passionate about social justice. So is the NBA. The league even allowed players to replace the names on their jerseys with activist slogans. But that concern doesn’t seem to extend to, for instance, China’s human rights issues. Maybe because the Chinese arm of the NBA was valued at $5 billion in 2019. That’s when a Houston Rockets executive simply tweeted “Fight for Freedom, Stand with Hong Kong.” The tweet was quickly deleted and led to an official apology from the NBA.

Maybe you’re passionate about empowering women. So were the folks at State Street, the financial services firm that erected the “fearless girl” statue on Wall Street. The sculpture was hailed in some quarters as a feminist triumph. One problem: The company erected the sculpture in the middle of a federal investigation for underpaying its female employees.

Maybe you’re passionate about gay rights. So is Amazon. In June of 2021, the company celebrated pride month by hoisting the pride flag above its Seattle headquarters. And in June of 2022, they celebrated by … removing LGBTQ products from their website in the United Arab Emirates — where the State Department warns that homosexuality can be punished by execution.

What about ESG investing? This type of investing — which stands for environmental, social, and corporate governance — is supposed to encourage sustainability and corporate citizenship. But research actually found that the firms in ESG funds had worse track records of complying with environmental and labor laws than those in non-ESG ones.

All of which points back to one point: It’s easy to *say* you’re in favor of some noble cause. It’s much harder to make the sacrifices necessary to actually live out your beliefs.

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Nigerian govt. faults seizure of presidential jets in France, vows to challenge court order

Nigerian govt. faults seizure of presidential jets in France, vows to challenge court order 9geezyone 7 Views • 1 year ago

Find these stories and much more when you grab a copy of The Guardian on Friday.
NATIONAL NEWS
Tinubu signs deal on gulf stream pipeline project with Equatorial Guinea President
FG interfering in trade union internal affairs says NLC
Nigerian govt. faults seizure of presidential jets in France, vows to challenge court order
Bauchi emirate strips senator of title for ‘disrespecting’ governor
Ganduje's aide blames Abba Yusuf for violent protest in Kano
NJC recommends Justice Kekere-Ekun as Chief Justice of Nigeria
Police officers beg IG over unpaid salary arrears
𝐔𝐍𝐈𝐂𝐄𝐅, 𝐊𝐚𝐧𝐨 allocate N1bn to combat malnutrition
Human rights commission sued over ‘refusal to treat complaint’
Oyo govt declares Tuesday work-free for Isese Day
Bauchi closes 39 unregistered colleges of education
Federal Government disburses over N130 billion for healthcare
Don’t accept admissions outside CAPS, JAMB reminds candidates
BUSINESS NEWS
𝐍𝐢𝐠𝐞𝐫𝐢𝐚’𝐬 𝐢𝐧𝐟𝐥𝐚𝐭𝐢𝐨𝐧 𝐫𝐚𝐭𝐞 𝐝𝐫𝐨𝐩𝐩𝐞𝐝 𝐭𝐨 𝟑𝟑.𝟑𝟎% 𝐢𝐧 𝐉𝐮𝐥𝐲 says 𝐍𝐁𝐒
GTBank denies website cloning claims, confirms attempted domain breach
Nigeria to issue $500 million domestic dollar bond on Monday
TECH NEWS
Lockheed Martin to buy satellite maker Terran Orbital in $450M deal
Google brings AI answers in Search to new countries
INTERNATIONAL NEWS
US-Russian woman jailed for 12 years for $51 charity gift supporting Ukraine
Protests escalate in India over gruesome rape of doctor
SPORTS NEWS
Bank of America partners with FIFA as first-time sponsor for 2026 World Cup
Pochettino agrees to become U.S. men's coach

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#France #Tinubu #presidentialjets

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