Institutional Investor (March 12)
“Sixty-eight percent of U.S. institutional investors do not use ESG in their portfolios.” They’ve been abandoning ESG as it “has become politicized, leading to state legislation banning the practice, lawsuits, and reputation concerns.” Elsewhere, in contrast, ESG investment is “forging ahead”. A recent global survey of 310 institutional investors, showed that “94 percent of European respondents have incorporated ESG into their investment process…. Within Asia, that portion is 86 percent.”
Tags: Banning, ESG, Global, Institutional investors, Investment, Lawsuits, Legislation, Politicized, Portfolios, Reputation, Survey Europe, U.S.
BBC (April 24)
In the bank’s final quarterly results, Credit Swiss disclosed that nearly $69 billion was withdrawn by depositors during the first three months of 2023. Coming on the heels of a gaping loss in 2022 and forecast loss for 2023, the deposit withdrawal was part of the impetus behind “its forced sale to rival Swiss bank UBS.” The sale has “has angered taxpayers and shareholders of both banks, who were deprived of a vote on the takeover. Some have also argued it has damaged Switzerland’s global reputation as a financial centre.”
Tags: 2023, Banks, Credit Swiss, Damaged, Deposit, Depositors, Forecast, Loss, Quarterly results, Reputation, Shareholders, Switzerland, Takeover, Taxpayers, UBS, Withdrawn
Washington Post (September 16)
“Japan is inching closer to a full reopening, with an announcement likely in the coming days. But the country’s prolonged closure during the coronavirus pandemic has done lasting damage to its reputation as a destination for international investors, academics and tourists, experts say.”
Tags: Academics, Coronavirus, Damage, Destination, International, Investors, Japan, Pandemic, Prolonged closure, Reopening, Reputation, Tourists
South China Morning Post (January 5)
“The truth is more likely to emerge now that Ghosn and Nissan can each tell their own stories.” This “might not only give Ghosn a chance to salvage his reputation but also prompt Japan to reflect on whether its justice and corporate governance systems serve its best interests amid competitive globalisation.”
Tags: Best interests, Corporate governance, Ghosn, Globalisation, Japan, Justice, Nissan, Reputation, Salvage, Truth
South China Morning Post (November 25)
The unfolding truth “appears to be rather different” than “the narrative spun by Nissan and apparently condoned by Japanese authorities.” When the full story about Ghosn is revealed, “it threatens to do at least as much damage to the reputation of the government and industry alliance known as Japan Inc as to the man at the centre of the affair” for it increasingly appears “Nissan’s old guard struck back against their ‘gaijin’ savior.”
Tags: Alliance, Authorities, Damage, Ghosn, Government, Industry, Japan Inc., Nissan, Reputation, Truth, Unfolding
New York Times (June 10)
“There has never been a disaster like the G7 meeting that just took place. It could herald the beginning of a trade war, maybe even the collapse of the Western alliance. At the very least it will damage America’s reputation as a reliable ally for decades to come; even if Trump eventually departs the scene in disgrace, the fact that someone like him could come to power in the first place will always be in the back of everyone’s mind.”
Tags: Ally Disgrace, Collapse, Damage, Disaster, G7, Power, Reliable, Reputation, Trade war, U.S., Western alliance
Wall Street Journal (March 1)
Mauricio Macri, the new Argentine President, is off to a dramatic start. “This week he settled a dispute with a number of the country’s creditors that had dragged on for more than a decade as it tarnished Argentina’s reputation. Mr. Macri now has the country poised for a return to international capital markets and perhaps an economic revival that was impossible under his Peronist predecessor Cristina Kirchner.”
Tags: Argentina, Creditors, Cristina Kirchner, Dispute, Economic revival, International capital markets, Mauricio Macri, Peronist, Reputation
The Economist (October 3)
“Shell’s retreat from the frozen north shows the new realities of ‘big oil.’” Shell announced its withdrawal from exploration in the Chukchi Sea where it had already invested $7 billion on a single exploratory well. “The decision boiled down to costs, financial and reputational. Most big oil firms face similar pressures” and appear likely postpone costly Arctic drilling.
Tags: Arctic drilling, Big oil, Chukchi Sea, Exploration, Reputation, Retreat, Shell
Financial Times (August 12)
“England has had a torrid week,” exclaims the Financial Times. “Wanton destruction” damaged the nation’s image to “those abroad who still look on England as a country of civility and tolerance.” Riots amongst the downtrodden are nothing new, but these were altogether different. They were not political protests “about an intolerable deterioration in their living conditions. They were taking advantage of serious policing errors in order to steal mobile phones and trainers.”
Tags: Politics, Protests, Reputation, Riots, UK
