Strategic CSR - Insurance

This chart from the article in the url below is interesting. It tracks insurance payouts over the past century for the insurance industry:

"When it comes to climate impacts, the frontline of the finance industry is insurance. Last year's payout from damages caused by extreme-weather events totaled $120 billion—about the same as the economic output of Kenya. And that's a 50% increase over the previous decade's average."

See if you can spot the moment when insurance claims went through the roof:

 

Apart from the obvious irony that "man-made" events are remaining steady, while "weather related" and "natural catastrophes" are increasing (even though climate change is "man-made"), the change since the late 1980s (and even more so, since 2000) is dramatic. In response, the insurance industry clearly needs to raise its premiums to discourage the kind of behavior (e.g., living in areas that are below sea level) that can lead to catastrophic payouts:

"'Our pricing signal should imply that you have to change your behavior,' said Christian Mumenthaler, group chief executive officer of Swiss Re. … 'But human beings generally don't like to change their behavior.'"

In addition to humans being irrational (who would have thought?), the government has a habit of stepping in when natural disasters occur, which further reduces the likelihood of prohibitive costs forcing changes in behavior. The result is that we get to keep repeating the same mistakes, only with the stakes getting higher as the consequences of climate change become more severe.

Take care

David

David Chandler

Strategic Corporate Social Responsibility: Sustainable Value Creation (6e)

© Sage Publications, 2023

Instructor Teaching and Student Study Site: https://study.sagepub.com/chandler6e 

Strategic CSR Simulation: http://www.strategiccsrsim.com/

The library of CSR Newsletters are archived at: https://strategiccsr-sage.blogspot.com/

Climate is Forcing the Risk-Aware Industry to Reinvent Itself

By Akshat Rathi

January 24, 2023

Bloomberg

https://www.bloomberg.com/news/articles/2023-01-24/climate-is-forcing-the-most-risk-aware-industry-to-reinvent-itself

 

Strategic CSR - Natural capital

The article in the url below looks like an interesting experiment. It is a reaction against the idea of GDP as a meaningful measure of a country's economic output; in particular, because it does such a poor job of accounting for "the full economic costs of depleting America's natural assets":

"[Last summer] the White House unveiled a 15-year plan for an ambitious—albeit wonkish—environmental initiative. Its Office of Science and Technology Policy and a dozen other government agencies aim to develop natural-capital accounts that record changes in America's stock of natural resources, and quantify losses. Armed with new data, they plan to create a single statistic, alongside GDP, that rates how the country's resources are faring."

This project is starting immediately ("the first numbers are expected as early as [2023]") and will continue to evolve, with a deadline of 2036 for these measures to "become core statistics." The name for the new over-arching measure will be "Change in Natural Asset Wealth," and is quite the undertaking:

"Scientists must first measure ecological changes such as water pollution (typically tallied in parts per million for a specific pollutant), soil erosion (counting the amount of soil lost, say) and the degradation of wetlands (the area reduced). Economists must then attempt to determine prices."

The range of potential metrics seems endless, as suggested by the limited data currently being collected by the World Bank. Between 2010 and 2018, for example:

"… the value of forests and mangroves in America declined by 10%. That of ten minerals—among them copper and iron—dropped by 51%. Beekeepers have lost one-third of their colonies a year since 2006, according to Bee Informed Partnership, a non-profit group, and renewal rates fail to keep bee populations steady."

These assets are essential to the economic health of the nation (e.g., "Making electric vehicles and wind turbines would be impossible without copper"), but that does not mean assigning prices is easy. Current methods seem less than satisfactory:

"Some, like timber, are traded in cash markets, which allows researchers to set their worth as the dollar amount people pay for them. For more complicated [assets], like rivers or mountain ranges, economists survey people to gauge how much they are willing to spend to preserve them, or how far they will travel to access them."

Nevertheless, this is essential work that is already being pursued globally – e.g., the UN Environment Programme "now tracks broad measures of natural capital in 163 countries," and the article also notes that previous administrations in the U.S. attempted something similar, although political ideology with changes in administrations derailed those earlier efforts – shifts that have already proven costly:

"Eli Fenichel, an assistant director at the Office of Science and Technology Policy, who helps organize the initiative, believes that climate change would not have grown to the current crisis level had the cost of the carbon externality been tracked in official natural environmental-economic accounts early on."

Take care

David

David Chandler

Strategic Corporate Social Responsibility: Sustainable Value Creation (6e)

© Sage Publications, 2023

Instructor Teaching and Student Study Site: https://study.sagepub.com/chandler6e 

Strategic CSR Simulation: http://www.strategiccsrsim.com/

The library of CSR Newsletters are archived at: https://strategiccsr-sage.blogspot.com/

The Biden administration aims to quantify the costs of ecological decay

September 17, 2022

The Economist

Late Edition – Final

28-29

https://www.economist.com/united-states/2022/09/15/the-biden-administration-aims-to-quantify-the-costs-of-ecological-decay

 

Strategic CSR - Scope 4 emissions

The article in the url below caught my attention due to its focus on scope 4 greenhouse gas emissions – a term that the author saw used recently by PG&E. I was familiar with scope 1, 2, and 3, but had not heard scope 4 before:

"Scope 1 and 2 were rigorously defined back in 2001 under the Greenhouse Gas Protocol, the established resource for emissions accounting developed by the World Resources Institute and the World Business Council for Sustainable Development. Scope 3, the most complicated one, came in 2011. The trio of terms was designed to capture the full sweep of a company's climate footprint, according to WRI climate expert Pankaj Bhatia. This includes the direct emissions tied to a company's activities (Scope 1), as well as the indirect emissions from a company's energy use linked to making its product or delivering its services (Scope 2). It even includes pretty much any other indirect source of emissions associated with a company's value chain (Scope 3)."

So, is scope 4 a real thing or did PG&E make it up?

 

"Bhatia provided a decisive answer to the second question: No, officially they are not an established category under the Greenhouse Gas Protocol. And Bhatia would know because he's the program's director and has been tracking these conversations for decades. The fact that PG&E recently used this terminology was news to Bhatia and others interviewed for this article."

 

It seems that PG&E is using the term in order to convey positive progress, rather than simply cataloging all the negative emissions for which the firm is responsible: 

 

"PG&E doesn't dispute the term's unofficial nature. Spokesperson Lynsey Paulo wrote in an email that in the recent report, 'we acknowledge that 'Scope 4' is 'an emerging term for categorizing emission reductions enabled by a company' and present the term in quotations to distinguish it from Scope 1, 2, and 3 greenhouse gas emissions.' She went on: 'As a utility that provides gas and electric service to millions of Californians, we have dedicated programs and strategies to enable our customers to reduce their carbon footprint and our 'Scope 4' goals quantify our 2030 objectives.' For example, by providing energy efficiency and electrification programs, the company said they can help customers save 48 million metric tons of carbon-dioxide equivalent by 2030. And by promoting and supporting the uptake of electric vehicles in the utility's service area across California, the utility said it can save customers more than 58 million metric tons of CO₂ equivalent by the decade's end."

 

So, in essence:

 

"PG&E seems to be using 'Scope 4' as synonymous with what others more commonly refer to as 'avoided emissions,' said Laura Draucker, Ceres' director of corporate greenhouse gas emissions. This isn't the first time this has happened, but it's not common or widely accepted."

While this may be fine, due to the ambiguous nature of this term (which has not been officially defined) and the temptation firms have to emphasize positive over negative news, the potential is for 'scope 4 emissions' to be used as greenwash:

"To be sure, PG&E is tackling its greenhouse gas footprint. In the report, the company outlined its target to be a net-zero energy system in 2040, five years ahead of California's similar climate goal. The company has also pledged to cut its Scope 1 and 2 goals by 50 percent from 2015 levels by the end of the decade, and to cut Scope 3 emissions by 25 percent from 2015 levels in that same time period. Still, the report didn't offer a formula or detailed data behind PG&E's 'Scope 4' figures, making it hard to understand what's fully counted as avoided emissions or how to compare that to any other companies that may follow its lead. If companies do follow PG&E, Bhatia advises that they don't adopt the 'Scope 4' label and find something else instead."

Take care

David

David Chandler

Strategic Corporate Social Responsibility: Sustainable Value Creation (6e)

© Sage Publications, 2023

Instructor Teaching and Student Study Site: https://study.sagepub.com/chandler6e 

Strategic CSR Simulation: http://www.strategiccsrsim.com/

The library of CSR Newsletters are archived at: https://strategiccsr-sage.blogspot.com/

PG&E Wants to Add 'Scope 4' Emissions to Your Climate Dictionary

By Zahara Hirji

June 19, 2022

Bloomberg Businessweek

https://www.bloomberg.com/news/articles/2022-06-20/what-are-scope-1-2-and-3-emissions-not-enough-for-utility-pg-e

 

Strategic CSR - DAOs

The idea featured in the article in the url below is interesting:

"There's a new shop coming to San Francisco's Hayes Valley, but it's not your traditional brick-and-mortar establishment. The DeStore 'STORE_0' will be collectively owned and operated by members of a so-called decentralized autonomous organization [DAO]. That is, anyone will be able to buy a blockchain-based crypto token that represents ownership in the store, and vote on what it buys and sells. The greater the value of the token, the greater the owner's voting power."

 

Specifically:

 

"Co-founder and CEO Itsuki Daito sees the store as a way to not only revive retail post-pandemic, but also to create a community space, where owners — half of whom will be locals and the other half from around the world — would have to agree on how to spend profits. While there may be a downside of having too many people in charge, one investor [reacts] that's just more 'wisdom of the crowd.' Will there be buy-in?"

This issue of 'buy-in' of course always applies to new ideas (and particularly new technologies). What I find fascinating, instead, is the underlying community-based structure to decision making and, in this particular case, engaged commitment to a for-profit organization:

"Daito's pitch goes like this: when the DeStore app is launched this fall, anyone will be able to buy a blockchain-based token that represents ownership in the store, and join the community's server on Discord, a chat app similar to Slack that includes many elements of more traditional social media platforms. The greater the value of the tokens participants own, the greater their share of voting power. As the store gets up and running, token holders will be able to vote on what brands to stock and sell at the location, what furniture to buy, and even who will work there. What happens to any revenue the store may generate will also be up to a vote."

Buy-in from the local part of that community, is clearly essential:

"A big test of this idea will be whether people actually want to spend their free time running a store in Hayes Valley, or have the expertise to do so successfully. Ideally, Daito says, 200 people will be part of the DAO. … Part-owners can choose to staff the store themselves, or hire outside employees, or even conscript Daito himself to operate the register."

The idea was partly motivated by those who predict the downfall of retail in the aftermath of the COVID-19 pandemic:

"Within the wreckage, Daito sees opportunity. 'During the pandemic, online shopping is getting bigger, of course. But offline shopping is getting bigger as well, if they provide offline-only value,' he said. 'Like a community experience; like a touch-and-feel experience.'"

What also makes the experiment interesting, though, is how the investors will chose to utilize any profits generated:

"Still, there's no clear return on investment from the store itself, given the fact that owners will have to agree on whether to divide up profits amongst the DAO or put the money back into new products. It's a gamble partners in a traditional LLC — or part-owners in a small business — make all the time, according to Parrott. In a DAO, there are just a lot more cooks in the kitchen. Or, as he puts it, more 'wisdom of the crowd' to go around."

Either way, what is clear is that the potential for blockchain technology is only just becoming apparent and will present opportunities to reshape the business world.

Take care

David

David Chandler

Strategic Corporate Social Responsibility: Sustainable Value Creation (6e)

© Sage Publications, 2023

Instructor Teaching and Student Study Site: https://study.sagepub.com/chandler6e 

Strategic CSR Simulation: http://www.strategiccsrsim.com/

The library of CSR Newsletters are archived at: https://strategiccsr-sage.blogspot.com/

This Entrepreneur is Betting the Future of Retail Runs on the Blockchain and Discord

By Sarah Holder

August 9, 2022

Bloomberg CityLab

https://www.bloomberg.com/news/articles/2022-08-09/this-retail-entrepreneur-is-betting-on-the-blockchain-daos-and-discord

 

Strategic CSR - Energy

This graphic caught my eye as I was scrolling through LinkedIn:

The thing that immediately caught my eye is the large number of states that still rely heavily on coal. This should give everyone reason to question whether EVs (and electrification, in general) are an immediate solution to our climate-related problems. The second thing, though, was how many states now have some form of renewable energy producing the largest amount of electricity. The same article produces a breakdown of each energy source for North America, as a whole:

Source of Power  Percentage

Natural Gas           44.32

Coal                       20.8

Nuclear                  8.83

Wind                      8.62

Hydro                    8.37

Solar                      3.46

Oil                         3.14

Other                     2.46

Have a good weekend

David

David Chandler

Strategic Corporate Social Responsibility: Sustainable Value Creation (6e)

© Sage Publications, 2023

Instructor Teaching and Student Study Site: https://study.sagepub.com/chandler6e 

Strategic CSR Simulation: http://www.strategiccsrsim.com/

The library of CSR Newsletters are archived at: https://strategiccsr-sage.blogspot.com/

The Largest Source of Power in Every State and Province

By Alex

November 27, 2022

Vivid Maps

https://vividmaps.com/largest-source-of-power-in-every-state-and-province/

 

Strategic CSR - Global trade

Since the 2022 passing of the Inflation Reduction Act (which contains large subsidies for environmentally-related products and industries), I have seen a lot of media coverage about trade friction between the U.S and EU. The green subsidies that favor U.S. companies, by definition, penalize those companies from elsewhere and, given that the EU is perhaps the most advanced economic region in promoting environmental awareness, the companies most affected tend to be European. Before the IRA, however, there was the Green Deal, which was passed by the EU in 2020. A key part of this legislation was the Carbon Border Adjustment Mechanism (CBAM), which is an attempt to account for carbon emissions in products made in countries that don't otherwise tax that externality. The article in the first url below covers the details of CBAM, which were announced at the end of last year and represent the first attempt to tax imports based on the carbon emitted during their production (see Strategic CSR – Global carbon tax):

"The European Union reached an agreement to impose a tax on imports based on the greenhouse gases emitted to make them, inserting climate-change regulation for the first time into the rules of global trade. The deal … ends more than a year of negotiations on the details of the plan. The EU is expected to adopt it in the coming weeks as part of a sweeping package of legislation that would step up the bloc's efforts to limit global warming."

The EU is understandably proud of taking the first step on this issue:

"The plan, known as the carbon border adjustment mechanism, would be the world's first tax on the carbon content of imported goods. It has rattled supply chains around the globe and angered the EU's trading partners, particularly in the developing world where manufacturers tend to emit relatively large amounts of carbon dioxide. It has also unsettled manufacturers in the U.S. who are concerned the measure would create a new web of red tape to export to Europe."

The reason for this concern in the U.S., as noted in the article in the second url below, is that this legislation is as much about economic policy as it is about concerns for the environment:

"The 'carbon border adjustment mechanism' is aimed at protecting E.U. companies subjected to strict environmental rules from the risk of being crushed by competition with businesses from countries whose rules on emissions are looser. It is also designed to encourage other countries to adopt similarly ambitious emissions rules."

Thus, for all the criticism that the IRA has received for being a protectionist trade measure, the U.S. can legitimately point out that the EU started it. The exchange of blame raises one of the most frustrating aspects of tackling climate change, which is that every time a policy is proposed or (heaven forbid) implemented, the reason most often cited for why it can't possibly work is that it causes some disadvantage for some group that relies on the carbon emissions that the policy is trying to eradicate. But, of course, that harm is being inflicted because that is the main point. Since we are clearly incapable of surrendering our reliance on carbon voluntarily, some coercion is required, which will lead to a period of transition that is going to be challenging because it is new. If we want to decrease the consumption of carbon, we need to make it more expensive, which means that a higher price cannot be the reason for not doing it. Why we cannot have an honest discussion about this as a society is beyond me. Whenever a cost increase is a result of a policy change, those with less economic power (and/or a higher dependence) are going to be disproportionately affected since they have, by definition, less money. But, since economic theory of supply and demand is the best means we have devised of allocating scarce and valuable resources, there is no way around this. If we increase the cost of emitting carbon, then consumption will decrease, but those that rely on carbon or who resist reducing their consumption, will pay more. And, of course, the longer we take to acknowledge this, the higher the cost of switching becomes.

Take care

David

David Chandler

Strategic Corporate Social Responsibility: Sustainable Value Creation (6e)

© Sage Publications, 2023

Instructor Teaching and Student Study Site: https://study.sagepub.com/chandler6e 

Strategic CSR Simulation: http://www.strategiccsrsim.com/

The library of CSR Newsletters are archived at: https://strategiccsr-sage.blogspot.com/

EU to Tax Impots Based on Emissions

By Matthew Dalton

December 14, 2022

The Wall Street Journal

Late Edition – Final

A1, A8

https://www.wsj.com/articles/europe-reaches-deal-on-landmark-carbon-import-tax-11670921011

New E.U. Tax Hits Countries Failing to Halt Gas Emissions

By Emma Bubola

December 14, 2022

The New York Times

Late Edition – Final

A12

https://www.nytimes.com/2022/12/13/world/europe/eu-carbon-tax-law-imports.html

 

Strategic CSR - COVID-19

The article in the url below discusses the effects of the COVID lockdown on carbon emissions and documents, somewhat depressingly (although perhaps not surprisingly), how quickly they have rebounded. What I find fascinating about the pandemic, however, when essentially the whole developed world shut down, is how little impact there was on total emissions (see red circle, below):

For reference as to how relentless is the year-on-year increase in carbon emissions (despite all efforts to raise awareness of the dangers), see Strategic CSR – Climate inaction. During COVID, yes, total emissions dropped from 33.5 billion tons down to about 31.5 billion tons, but the world still produced 31.5 billion tons (more than almost all years since 1950) when a large percentage of the developed world was locked in their houses. When we all felt like there was nowhere we could go, total carbon emissions dropped by only about 6 percent. And, to be clear, we need to get it to zero. I think it is when you frame the problem in such stark terms that you realize we are simply not talking or thinking about the challenge from a realistic perspective. The analogy of rearranging the deck chairs on the Titanic comes to mind.

Take care

David

David Chandler

Strategic Corporate Social Responsibility: Sustainable Value Creation (6e)

© Sage Publications, 2023

Instructor Teaching and Student Study Site: https://study.sagepub.com/chandler6e 

Strategic CSR Simulation: http://www.strategiccsrsim.com/

The library of CSR Newsletters are archived at: https://strategiccsr-sage.blogspot.com/

Covid-19 Slashed Carbon Emissions. Now They're Climbing Again

By David Hodari

April 20, 2021

The Wall Street Journal

https://www.wsj.com/articles/covid-19-slashed-carbon-emissions-now-theyre-climbing-again-11618894980

 

Strategic CSR - Danone

Around the turn of the year, I saw several articles claiming how 2023 was going to be the year of social justice litigation – that activists will increase their use of the courts to compel the behavior they are seeking from companies. The article in the url below gives some credence to those claims – this time taking advantage of a recently passed law in France:

"Danone, the French dairy giant, is being taken to court by three environmental groups who say it has failed to reduce its plastic footprint sufficiently, in a lawsuit challenging corporate social responsibility in the face of the climate crisis."

Specifically:

"The groups accuse Danone — one of the world's top 10 plastic polluters, according to a recent study — of 'failing to live up to its duties' under a groundbreaking French law that requires large companies to address their environmental impact and has opened ways to sue them should they fail to do so."

The more aggressive tactics are being driven by impatience with the pace of change and a sense that time is running out:

"By suing Danone, ClientEarth and the two other groups, Surfrider Europe and Zero Waste France, are hoping to shed light on what many scientists say is a global plastic crisis whose potentially devastating effects have yet to be fully understood. … In 2015, [plastics] were responsible for 4.5 percent of global greenhouse gas emissions, one recent study found, more than all of the world's airplanes combined."

And, as I have noted before in prior newsletters, this is not a small problem, while Danone is far from an innocent contributor:

"Figures from the Organization for Economic Cooperation and Development show that, over the past seven decades, plastics production has soared from two million metric tons (there are about 2,200 pounds per metric ton) to more than 400 million — and is expected to almost triple by 2060. Danone alone used more than 750,000 metric tons of plastic — about 74 times the weight of the Eiffel Tower — in water bottles , yogurt containers and other packaging in 2021, according to its 2021 financial report."

Danone, perhaps unsurprisingly, claims to be making meaningful progress on reducing the level of waste for which their products are responsible:

"The company said that it reduced its plastic consumption by 12 percent from 2018 to 2021, and that it has committed to use only reusable, recyclable or compostable plastic packaging by 2025. But Danone is not on track to reach that target, according to a report by the Ellen MacArthur Foundation, which set up a voluntary program with the United Nations for big companies to address plastic pollution."

Nevertheless:

"Only 9 percent of all plastics ever made have been recycled, according to the United Nations, with most of the rest ending up in landfills and dumps."

The law that the activists are using to sue was passed in France in 2017:

"It requires large companies to take effective measures to identify and prevent human rights violations and environmental damages throughout their chain of activity. Impetus for the law came from the Rana Plaza disaster in 2013, in which the collapse of a clothing factory killed more than 1,100 people in Bangladesh. Labels from famous brands were found in the rubble, casting a harsh light on the garment industry and prompting politicians and rights groups around the world to press for more corporate responsibility. The French duty of vigilance law, the first of its kind in Europe, has since inspired similar legislation in Germany and the Netherlands, as well as a proposed European Union directive."

I'll be keeping my eyes open to see if this tendency towards litigation is a trend that will pick up pace this year, and beyond. While this is a substantive way in which stakeholders can hold firms to account, there is also the danger that the interests of the minority are prioritized over those of the majority, who might not support the action being pursued in court.

Take care

David

David Chandler

Strategic Corporate Social Responsibility: Sustainable Value Creation (6e)

© Sage Publications, 2023

Instructor Teaching and Student Study Site: https://study.sagepub.com/chandler6e 

Strategic CSR Simulation: http://www.strategiccsrsim.com/

The library of CSR Newsletters are archived at: https://strategiccsr-sage.blogspot.com/

Danone Sued Over Its Plastic Use Under a Landmark Law

By Constant Meheut and Catherine Porter

January 10, 2023

The New York Times

Late Edition – Final

B3

https://www.nytimes.com/2023/01/09/world/europe/danone-sued-plastic-use-france.html

 

Strategic CSR - BRCC

The article in the url below checks-in on a company I have been following reasonably closely – Black Rifle Coffee Company (BRCC; see Strategic CSR – BRCC). The article makes the case that, although they may not be your values, BRCC is clearly a values-based business:

"You might call Black Rifle Coffee Co. a socially conscious enterprise. 'This is a veterans' corporation,' founder and CEO Evan Hafer, a former Green Beret, says in a Zoom interview. More than half of Black Rifle's employees have served in the military or are family of veterans. In 2021 the company put $5.3 million in shares toward starting the BRCC Fund, a charity dedicated to helping wounded or traumatized veterans and their families. That was on top of $1.2 million in charitable contributions and $3 million worth of coffee and related products to active-duty military and first responders."

In spite of BRCC's commercial success (revenues of "$233.1 million" in 2021), the firm has faced difficulty identifying more legitimate partners with which it can work:

"But Mr. Hafer says Black Rifle struggled to find banks and law firms to help it arrange an initial public offering. Since he founded the company in 2014, companies have told him that it was 'too irreverent' and poses 'reputational risk.'"

The ostracizing (perceived or real) has continued in terms of financial institutions:

"In 2019 and 2020, a Black Rifle spokeswoman says, company leaders were talking to Chase, Bank of America and Macquarie Group about raising capital. After initially showing interest, all three companies declined to work with Black Rifle, citing the company's image. In 2018 Black Rifle had tried to open an account at a Chase branch in San Antonio and had been turned away over reputational concerns. The spokeswoman says that Macquarie was particularly fixated on the name of its in-house magazine, Coffee or Die, which covers military issues and won the Military Reporters & Editors Association's 2022 journalism contest for overseas coverage."

The story is the same with law firms:

"Black Rifle hit similar roadblocks in 2019 and 2020 with Skadden Arps, Latham & Watkins and Simpson Thacher & Bartlett. All three law firms passed on working with the coffee company because of its image. According to the Black Rifle spokeswoman, Latham & Watkins said that its reputational risk committee thought no one from top law schools would be willing to work at the firm if it took on Black Rifle as a client, especially because its name included the word 'rifle.' The name 'is an homage to the service rifle,' Mr. Hafer says. Like the guns he taught special-operations soldiers to shoot, he says, coffee is 'lifesaving equipment.'"

BRCC's founder and CEO, Hafer, extrapolates this exclusion to suggest it is indicative of the reaction all veterans face in seeking to engage with these normal elements of society. What I find interesting is that these banks and law firms would not doubt have no hesitation engaging with oil firms. So, why is it that a genuinely values-based business that is seeking to represent a population that society says it reveres (veterans) is excluded, when oil firms (which, by any measure have produced many times more harm than BRCC) are not shunned in the same way? The article suggests BRCC is being ostracized due to political correctness, but that seems less compelling if oil and gas firms are fine. Or, is perceived social and political 'harm' treated in a different way to environmental harm (which is much more damaging from a longer term perspective)?

Take care

David

David Chandler

Strategic Corporate Social Responsibility: Sustainable Value Creation (6e)

© Sage Publications, 2023

Instructor Teaching and Student Study Site: https://study.sagepub.com/chandler6e 

Strategic CSR Simulation: http://www.strategiccsrsim.com/

The library of CSR Newsletters are archived at: https://strategiccsr-sage.blogspot.com/

A Socially Conscious but Politically Incorrect Company

By Megan Keller

September 16, 2022

The Wall Street Journal

Late Edition – Final

A15

https://www.wsj.com/articles/a-socially-conscious-but-politically-incorrect-company-black-rifle-coffee-initial-public-offering-finance-law-firms-reputational-risk-military-veterans-evan-hafer-11663258552