The Real Story - Why is corporate America getting political?
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This week Exxon Mobil saw a board revolt over its stance on climate change. One of the energy giant's biggest shareholders supported rival directors to successfully replace two Exxon board members with more green-friendly candidates. This reflects a growing trend across the United States of corporations and investors being more willing to take a stand on climate, race and other social issues. Following the new and restrictive voter laws in Georgia, Major League Baseball pulled its All Star Game from the state. Nike announced a fund to help Black communities during the Black Lives Matter protests. While these moves are being welcomed by many activists and politicians, there's also been a backlash from those saying CEOs should focus on serving customers and not get involved in debates. So, what's behind corporate America's desire to delve into issues not necessarily linked to their companies' bottom line? Ritula Shah and a panel of experts discuss why corporate America is wading into politics.
Published on Friday, 28th May 2021.
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