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January 31, 2013 9:59 AM Age: 107 days
RepRisk releases Report on Most Controversial Companies of 2012Category: AC - Billboard, AC RSS Feeds, AC RSS, CG News, CSR News, ERM News, ESG Highlights, IR News, IR Research, CG Research & Insights
ReRisk has released its report on the Most Controversial Companies of the year 2012. The report analyzes documented controversies, both fact and allegation, related to the 10 firms that received the highest Peak RepRisk Index in 2012. The information has been taken from a wide range of sources used by RepRisk including newspapers, news sites, NGOs and governmental sites, blogs and social media.
The 10 most controversial companies of 2012 were headquartered in different countries in Europe and Asia as well as the US, stemmed from a range of industries including telecommunications, pharmaceutical, media, banking and mining, and spanned the spectrum of ESG issues. Notably, poor labor conditions and human rights violations as well as bribery, fraud and money laundering, were the main issues criticized.
Two of the top-ranking firms were included in the report due to specific incidents at their facilities in the second half of the year: a fatal fire at Tazreen Fashions’ factory in Bangladesh; and violent clashes between police and 3,000 striking workers at Lonmin’s Marikana mine in South Africa that led to 34 deaths and many more injuries.
Corporate governance scandals that erupted in 2011 and continued to plague the companies in 2012 saw two further companies make the list: Olympus for its alleged decade-long accounting fraud; and News Corp for the hacking and bribery scandal in the UK. HSBC and ING Bank made the top 10 due to accusations of inadequate controls to counter money laundering; the former also for its alleged role in the Libor manipulation.
Also on the list, Samsung faced a number of investigations and lawsuits in 2012 for reported anti-competitive practices in the past as well as poor conditions at supplier factories. Wyeth was accused of fraudulently misrepresenting its drugs and neglecting to outline risks to the public and shareholders. TeliaSonera came under fire for alleged corruption and aiding oppressive regimes, while Reebok was also linked to labor breaches within its supply chain and to a fraud scandal in India.
To access the full report, please click here:
RepRisk is the leading provider of business intelligence on environmental, social and governance (ESG) risks. As such, RepRisk systematically collects and analyzes facts, criticism, and controversies related to companies and projects worldwide. It does so on a daily basis and in 13 languages from thousands of public sources including international and local media, government sites, non-governmental organizations (NGOs), newsletters, social media and blogs.
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