How the boom in sustainable investing is influencing the way massive companies react to events like the Capitol riots


US Capitol Building riots

Summary List Placement

As violent Trump supporters raged at the Capitol in what became a deadly insurrection last Wednesday afternoon, JPMorgan’s public relations team shared a statement from the bank’s chief executive, Jamie Dimon, with reporters.

“Our elected leaders have a responsibility to call for an end to the violence, accept the results, and, as our democracy has for hundreds of years, support the peaceful transition of power,” he said in a statement, “strongly” condemning the violence in Washington, DC. 

At major companies across sectors, top executives quickly released statements denouncing the riot that pro-Trump rioters planned to coincide with Congress confirming President-elect Joe Biden’s win in the US presidential election.

Later, spurred by a Sunday report from the newsletter Popular Information, dozens of firms said they would also review their political donation policies in light of the attack that came after some Republican lawmakers said they would not certify Biden’s win. Others made more pointed decisions around their political action committees (PACs).

State Street, which oversees its $3 trillion investment arm State Street Global Advisors, for instance, said Monday that it would “not support lawmakers or candidates who demonstrate views or engage in activities that are intended to undermine legitimate election outcomes.” Its PAC would not give to lawmakers who “supported last week’s efforts to undermine our democracy.”

Together, the reams of statements reflect a powerful undercurrent: the rise and influence of sustainable investing, or environmental, social, and corporate governance (ESG) frameworks as a lens for deciding which companies, causes, and people get your money.

  Nestle recalls more than 760,000 pounds of Hot Pockets because they might contain bits of plastic and glass

Read more: Walmart, Amazon, and other US corporate giants cut off donations to Republican lawmakers who opposed Biden’s certification as president

As corporate boards’ affiliations and actions come under closer watch than before by activists, ESG-minded analysts, and money managers, looking for where reputational and other risks …read more

Source:: Business Insider

(Visited 1 times, 1 visits today)

Leave a Reply

Your email address will not be published. Required fields are marked *