For the first half of 2019, U.S. funds targeted toward environmental, social, and governance (ESG) factors attracted a net $8.4 billion, according to data from Morningstar. That already exceeds the previous record of $5.4 billion collected during all of 2018. Clients have now committed $35 billion to what are known as ESG funds since 2013. Lunchtime Conversations:…
Since launching in 2015, JUUL has dominated the e-cigarette industry with 40% of the market. It did so well that Altria, the leading U.S. cigarette company, invested $12.8 billion for a 35% stake in the San Francisco-based start-up. But there is a problem: the company’s vapes are extremely popular with teenagers for which the company’s CEO says he’s sorry. Lunchtime…
The world is transitioning between an era dominated by fossil fuels and one focused on a low-carbon economy through renewables, electric vehicles, and other technology solutions. Oil industry analysts say that major companies like ExxonMobil, BP and Shell must navigate two contradictory global forces: growing political, societal and market pressure to cut global emissions and the strong likelihood that…
Nike defended its decision to pull its Betsy Ross flag sneakers from distribution after NFL-star-turned-activist Colin Kaepernick objected to the design. The 13-star Betsy Ross flag is associated with the Revolutionary War and a painful history of oppression and racism. Lunchtime Conversations: Why is Nike’s decision so politically charged? After all, isn’t this just a business decision?…
Bank of America has ended their financial relationship with the private prison and detention companies CoreCivic and GEO Group. Two other leading U.S. banks, Wells Fargo and JPMorgan Trust, dropped their ties with CoreCivic and GEO Group in January and March, respectively. The decisions followed months of pressure from a coalition of more than 70…
Critics of New York City’s WorldPride Festival and its June 30 Pride March say the event has evolved from a political protest into a bloated parade, overrun with corporate sponsors. An alternative Queer Liberation March will take place on the same day and be modeled on the first gay rights parade that came the year…
Employees of the online retailer Wayfair walked out of their offices Wednesday afternoon in protest of the company selling furniture to migrant detention facilities. Wayfair employees learned last week that an order for about $200,000 of bedroom furniture was placed by BCFS, a government contractor, that manages the migrant facilities for the Department of Health and…
Cracker Barrel says it will not allow a Tennessee pastor who has made death threats against gay people to hold an event in one of its stores. Grayson Fritts said during a June 9 sermon that gay people are “freaks” and “reprobates” who are “worthy of death” and should be tried and executed by the…
Google CEO Sundar Pichai announced a $1 billion investment over the next ten years to build some 20,000 units of housing in Silicon Valley. The tech explosion in the Bay Area has made housing unaffordable for large segments of the population as it has in other tech centers across the country. Lunchtime Conversations: Should more tech…
A new initiative hopes to standardize how companies measure and report their progress on achieving environmental benchmarks. Called the Accountability Framework initiative (AFi), the program was designed by a broad set of partner organizations including the Rainforest Alliance, The Nature Conservancy, Verité, the World Resources Institute, and the World Wildlife Foundation. Lunchtime Conversations: In 2016, the…
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