Eliminate bloody trade companies from ESG ratings

Eliminate bloody trade companies from ESG ratings

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Lyubomyr Ostapiv started this petition to MSCI ESG MSCI and

TO: MSCI, Sustainalytics, Blomberg, FTSE, ISS

ESG stands for Environmental, Social, and Governance. 

Not for Earnings. Sarcasm. Greed. 

Do not allow companies, still paying taxes to Putin, mislead you by fake values listed on the web sites. 

Why Nestle is #1 position in ESGD iShares and still sells in Russia?
Why Procter&Gamble and Kimberly Clark pay taxes to make Russian weapons and hold top positions in many ESG ratings at the same time?

Prove all investors that your analytics is real. 
Eliminate all such companies from your ratings if you are truly serious about ESG.
We are waiting for your public statement till March 30, 2022. 

The list international of companies in Russia is updated continuously by Jeffrey Sonnenfeld and his team at the Yale Chief Executive Leadership Institute

If you need more information on ESG issue with Russia please read "Greed in Good?" by Yuriy Gorodnichenko, a  professor at the Department of Economics, University of California - Berkeley. 

The public outrage in the civilized world provided political backing to impose unprecedented sanctions on Russia so that Putin does not have resources to sow death and destruction in Ukraine.

In this environment, many multinational corporations quickly learned that doing business in Russia or with Russia is so toxic that the best strategy is to voluntarily sever ties to Russia as quickly as possible.  

For example, McDonald’s closed 850 locations in Russia because of “the needless human suffering unfolding in Ukraine.” These decisions are not cheap and, not surprisingly, some businesses decided to stay in Russia because losses from exiting Russia outweighed the reputational costs. This is understandable as long as one believes in “greed is good”.

But ESG-approved businesses must be held to higher standards. Analytics firms assigning ESG scores must identify reprehensible connections to the Russian war machine and punish loathsome business choices with downgrades. And this is where the silence is deafening.   

Consider Nestle. This company decided to stay in Russia citing “a responsibility toward our more than 7,000 employees – most of whom are locals” as one of the reasons. Nestle has one of the highest (AA) rating from MSCI (according to MSCI, “Nestle is a leader among 83 companies in the food products industry.”). This rating buys a lot in the ESG investment world. For example, Nestle accounts for the largest share in BlackRock’s iShares ESG Aware MSCI index.

However, the dissonance between 1) paying taxes in Russia and thus funding the Russian war machine and 2) high morals of the ESG world is stark.

How is Nestle’s AA rating consistent with respecting human rights (one of ESG criteria) when it pays taxes to the Russian government that wages an aggressive war in Ukraine?








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