Thinking Ethics

Robin sent in this information and link to a new labelling scheme and social mouvement called SEE what you are buying. They aim to change the world for good - and everybody agrees with that!

To display the SEE logo, businesses must be open and honest. They must undergo a comprehensive evaluation and publish details of their social, environmental and ethical practices on the SEE website.

Check them out at www.SEEWhatYouAreBuyingInto.com

 



Reputation of Banking Sector

It is usually easier to make progress when you start from a lower position, as each increment has a bigger impact. This does not seem to be the case with the banking sector, which has been blamed for the economic crisis that has gone global and whose ethical rankings slipped tremendously since 2008.

The Banking sector report published by Covalence (the Swiss ethical ranking company) shows that the ethical reputation of banks seems to show smaller progress than the other sectors . Probably because they are still shy in offering sustainable products, which negatively affects their score. Most of their clients are still concerned about preserving and growing their assets after the stock market re-adjustment.

For the press release and link towards the report click here.

10 Business heros we can still look up to

Kaitlyn sent in this link about 10 business heros we can still look up to.

Covalence ethical ranking 2009

Covalence has published its ethical ranking for 2009.

IBM (Technology), Intel Corp (Technology) and HSBC Holdings (Banks) top Covalence ethical ranking 2009 among 581 multinationals within 18 sectors. Environmental initiatives, Eco-innovative products and social sponsorships have enabled companies to generate positive coverage in 2009, while issues related to downsizing, CO2 emissions and working conditions caused the most criticisms.

 

Full report here

http://www.covalence.ch/index.php/2010/01/26/covalence-ethical-ranking-2009/

Offshore outsourcing

Danny King sent in this link to his post on ethical outsourcing: a short overview of offshore outsourcing: practical and ethical arguments for and against, from a small business perspective.

Pharmaceutical companies ranking

The Swiss based ethical ranking and ethical reputation company Covalence has just issued their Health care sector report 2009. If you are interested in the ethical ranking of the pharmaceutical companies, a link to the summary of the report is here.

Covalence ethical ranking - 3rd Quarter 2009

For those of you who are interested,the Swiss based ethical ranking company Covalence has just posted their third quarter 2009 ethical ranking. See comment and link to press release below

IBM (Technology), Intel Corp (Technology) and HSBC Holdings (Banks) top Covalence ethical ranking among 541 multinationals within 18 sectors. Eco-innovative products and social sponsorships have enabled companies to generate positive coverage over the last quarter, while issues related to employment and working conditions (wages, bonuses) caused criticisms - the pressure being particularly strong in France and towards the Banking sector.

 

> View press release: http://www.covalence.ch/index.php/2009/10/07/covalence-ethical-ranking-q3-2009/

 

Sustainability index

How green are the products we buy ? The good news is that a sustainability index is in the making. Walmart is sending a 15 question survey to all of its suppliers in order to create an index. They hope to share it by creating a common database.

Surprisins that Walmart is taking the lead on this - but maybe not. They are  moving from a PR save exercice to incorporating sustainability into the culture, and now they are extending it to their suppliers (this is a first step in that direction). The critics on their sustainability report were a bit hard - apparently they put everything in there but the kitchen sink - 120 pages ! Lacking somewhat in focus. But watch this space - I think they are moving towards a new business model...

Good article on the sustainability index on Globalethics.org's Ethics Newsline here.

3 trends to address climate change

Businesses who want to address climate change don't get very far if they only work on themselves (maybe a 10% gain in their energy usage). But businesses who want to make an impact are adopting the following 3 trends:

1. engage customers to change their behavior  - educate them

2. do a bit of choice editing - don't offer unsuitable products, but you have to make sure that these "green" products are just as good and just as cheap as the old products

3. reinvent the business model - for instance, don't sell products, lease them. Or sell services.

Full article from Ethical Corporatio here.

The purpose of rankings

Besides informing the public about a given sector, the positioning also serves to name and shame laggards. So are they effective ?

Well, the Geneva-based ethical reputation research firm Covalence has just published its annual report on the retail industry. Last year Wal-Mart was last, in the 27th position. This year it has jumped into third position, behin Marks & Spencer and Home Depot. So obviously the ranking made them pull up their socks, and all the good things they are now doing are getting positive coverage in the press. But does it matter ? The report does not tell us how consumers are reacting, but Covalence does say that Wal-Mart is still the company with the most critical articles, so the press is not letting up.

Oh, and for those interested, the main issues in the retail industry are working conditions in supply chains, environmental impact of production, waste management and climate change. See Covalence's press report here.