Unilever, an ESG leader, plans to revise or abandon environmental and social pledges due to investor, consumer, and political backlash, and instead prioritize stock market performance.
Unilever, the ESG poster child, plans to abandon or water down environmental and social pledges due to a growing backlash from investors, consumers and politicians against companies pursuing non-financial objectives. CEO Hein Schumacher aims to drive performance and has lowered or delayed some sustainability targets, including plastic usage. This shift comes amid pressure from shareholders for corporations to focus more on stock market performance and reduce costs.
April 19, 2024
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