Russia is a litmus test for big Corps on ESG
TBH I am staggered what I am seeing.
Plenty of big corporations talking about ESG but then either being very slow to act on things that are like no brainers in this war - like kicking Russia out of indices, and also stopping staff from talking out.
Let’s not forget that this is now a war against fascism, kind of one of those “where were you, when did you stand up” moments. It is about an attack on our very system of government, what we should all believe in - Western Liberal Market Democracy, versus authoritarianism and fascism. Let’s call it out for what it is - and if you don’t know look up the dictionary definition of fascism. Indiscriminate attacks on Ukrainian civilians, bombing evacuation routes, invading another independent sovereign nation for zero reason is exactly that. And it seems Putin is attacking Ukraine because it is occupied by well, Ukrainians, and not Russians - that seems to me to meet the test for genocide in my view.
It is absolutely black and white, no question. Big corporations need to get off the fence - starting collections for refugees is not enough. They need to be voting with their feet and getting out of Russia, cutting business links with Russia.
Big corporations spend a lot of money these days on window dressing ESG, ticking the boxes, and training staff on moral values, but when it comes to the crunch, their own top management seem to be failing the first and basic test. They need to show real leadership on ESG and show that they have the right moral compass. Many don’t seem to have a clue.
Well done though to people like Richard Branson and Michael O’Leary of Ryanair, they were quick to call Putin out.