The response from Delta Air Lines and Coca-Cola this week regarding Georgia’s new voting law was another example of how the era of ESG has turned up the heat on companies’ communications, and the push to respond more forcefully to issues that lay beyond their balance sheet.
Both companies ramped up their opposition to the law after pressure on several fronts, most notably from a letter signed by prominent Black executives. Employees and stakeholders have proven, time and again, particularly when involving influential companies, that not only is a response to a major societal issue expected, but a clear stance as well.
J.P. Morgan’s stance on climate change was granted more clarity this week from CEO and Chairman Jamie Dimon, whose annual letter hit 66 pages and tackled ESG issues head on. One major item Dimon addressed on that front was pushing for a tax on carbon – a word that appeared in the bank’s annual letter for the first time.
Finally, Norges Bank, the world’s largest sovereign wealth fund, has for years had the reputation of being especially active even for a big state passive investor. The fund’s change in leadership has ramped up its active management approach, the Wall Street Journal reports, a shift all companies should take note of, seeing as Norges Bank owns, on average, 1.4 percent of the world’s publicly traded shares.
Have a great weekend,
Mike
