Monetary effect of ‘naming and shaming’ campaigns on multinational companies revealed by a study

first_imgTo address this lack of accountability, “[civil] society groups’ main strategy is to name the mining companies linked with the event.” They then spread this information using “the global news media to make the general public and the financial markets aware of the human rights abuses.” CW: Violence. “[Suits] against multinationals for human rights abuses are exceedingly rare”. Of the 354 assassination events recorded over the last 20 years by the study, the majority took place in the Philippines, Peru, and Colombia. The majority of companies associated are headquartered in Canada, the United Kingdom, and the United States. A study conducted in part by Oxford economics professor Nathaniel Lane has analysed alternative frameworks of accountability for multinational companies, rooted in civil society. These include ‘naming and shaming’ campaigns by human rights organisations as well as media coverage associating an event and a company. The case study used looks at the effect of reporting the assassination of environmental activists in association with mining companies in terms of the change in the stock price of the company.center_img The study found that “assassinations events lead to negative abnormal returns for firms associated with violence.” In the 10 days following a reported assasination event, the study calculated a media loss in market capitalization of over 100 USD. The effect was larger on the 5th to 10th days, attributed to the time needed for “market participants … [to] gather additional information” and estimate the monetary “[price]” of a tarnished reputation and legal damages. The recorded effects were also larger on days with “low media pressure”, in which there were fewer other large “newsworthy events”. The study acknowledges that the reactions are more strategically then morally motivated, writing that, in the past, hedge funds have “not shied away from investing in companies associated with regimes responsible for severe human right violations”. The study hopes to use its results as a foundation for further research on the role of “civil society in governing transnational corporate activities at the global periphery.”last_img read more

Organization awards sustainability prize

first_imgOne project developed a plant for processing cassava on-the-go. The other created a scorecard for assessing resilience to climate disasters.Both are recipients of the 2015 Corporate Adaptation Prize, an annual award presented by the Notre Dame Global Adaptation Index (ND-GAIN). ND-GAIN is best known for an index that ranks countries in order of their vulnerability to the negative effects of climate change.“Our mission is really to increase the world’s awareness about the need to adapt in order to inform investments in both the private and development sector to improve livelihood in the face of climate change,” Joyce Coffee, managing director of ND-GAIN, said.The prize, which ND-GAIN awarded to two recipients at an event in New York City on Wednesday, focuses on corporations making a difference in the world of “climate adaptation,” according to Coffee.“The reason why we have the award in the first place is that frankly, not until very recently was it possible to walk into a room and say the words ‘climate adaptation’ and have anyone know what you meant,” Coffee said. “We’re really celebrating climate adaptation as a method for corporations to serve their triple bottom line: the value of their corporation to their shareholders, the value of their corporation to the world and the value of their corporation to the environment.”The Dutch Agricultural Development and Trading Company (DADTCO), a Netherlands-based corporation, received the prize for developing a mobile plant that allows them to process cassava close to local farmers, according to a DADTCO press release.“The technology we have is mobile so we can go close to the farmers, and we can make sure that the same day, the cassava roots are processed,” Renske Franken, a member of the enterprise development team at DADTCO, said.Franken said this mobility is key, as cassava’s high perishability makes it difficult to ship long distances. While reducing transportation costs and emissions, the mobile plant also makes way for cassava — an important climate adaptation crop because of its ability to survive in poor weather conditions — to play a bigger part in local markets.“We say we want to start the cassava revolution,” Franken said. “It shouldn’t be neglected any more as it has been.”“It’s helping to build an economy, and whenever you build an economy, you definitely see an increased resistance to any kind of shock, including climate shock,” Coffee said.Coffee said the cassava mobile plants will be implemented in other industries as well.“The starch from cassava is used for a variety of things, including for beer,” Coffee said. “So this is our first craft beer adaptation project we can think of.”The second innovation recognized grew out of a partnership between engineering firm AECOM and technology leader IBM. The two companies worked together, for free, to develop a disaster resilience scorecard for the United Nations International Strategy for Disaster Reduction (UNISDR). The scorecard, which Coffee says looks to identify the “biggest risks” for a city, focuses on 85 different resilience criteria that cover aspects such as infrastructure, environment and recovery. “It’s not just that you create a scorecard; the scorecard helps you prioritize your investments, so that in an era of limited resources, you have a scorecard that tells you where you’re going to be able to optimize your infrastructure investment or your human investment,” Coffee said. Award submissions must be based in a country that ranks below 60 (out of 180) on the Global Adaptation Index, Coffee said. Additionally, the project must have some kind of corporate background.“We need to see a corporate lead because we are trying to prove that corporations gain benefits from being climate adaptation leaders,” Coffee said.Once submitted, a panel of judges — including members of ND-GAIN and judges from outside institutions like PepsiCo and the Catholic Relief Services — reviewed the projects before reaching a final decision.Ultimately, Coffee said, the Corporate Adaptation Prize fits into the University’s larger mission of social justice.“There’s a new risk that cuts across all sectors and all communities,” she said. “It’s disproportionately felt by the poor, and we need to be sure that leaders of every sector are aware of the risks and the opportunities presented to this new global era.”Tags: AECOM, climate adaption, Climate change, corporate adaption prize, DADTCO, IBM, ND Gainlast_img read more

College of Science assistant dean dies unexpectedly at age 61

first_imgAssistant dean for faculty affairs and special projects in the College of Science Clarence “Earl” Carter died in his home Thursday, Notre Dame announced in a press release Monday. He was 61.Carter was hired in 2011 as a professor of naval science and commanding officer for the Naval Reserve Officer Training Corps Unit after a career in the United States Navy.“During his 32-year naval career, Carter was a submariner whose career highlights included serving as commanding officer of the nuclear-powered submarine USS Scranton, leading its crew on the first mission to the North Pole by a Los Angeles Class submarine, and later serving as commander of Submarine Squadron Eight, comprising 10 fast-attack submarines and their crews,” the press release said. He then became an assistant dean in 2013, where he assisted with the college’s strategic planning and coordinated special events.From 2013 to 2015 Carter served as the interim managing director for the Notre Dame Haiti Program — an organization working toward eliminating lymphatic filariasis, a leading cause of disability in the world.Mary Galvin, the William K. Warren Foundation Dean of the College of Science, said in the press release that Carter was known for his faith, kindness and generosity.“His compassion was evident through his interactions with faculty, staff and students, and he had a way of listening and advising that solved many problems and healed wounds,” Galvin said. Carter is survived by his wife Lea, his two daughters Alora and Ciera, his son Joseph and his sister Kathryn Carter.Tags: College of Science, Notre Dame Haiti Program, Reserve Officer Training Corps, United States Navylast_img read more

Cricket News With Ranchi Follow On, Virat Kohli Creates New Record As India Captain

first_imgNew Delhi: Virat Kohli’s Indian cricket team have enjoyed their series against South Africa, breaking plenty of records. South Africa have not managed to bowl out India in the entire three-match series, with India declaring in all four Test innings where they have batted. In Pune, Kohli enforced the follow-on after his magnificent 254 helped India reach a total in excess of 600. In Ranchi, Rohit Sharma’s maiden double ton and a magnificent all-round performance by the bowlers helped India secure a 335-run lead and once again enforce the follow-on. This was the eighth time that Virat Kohli had enforced the follow-on in his captaincy tenure and it broke the record of seven set by Mohammad Azharuddin. This was also the first time in 25 years that India have enforced the followoon twice in a home series. The last instance was in the 1993/94 series against Sri Lanka in which India managed to whitewash them 3-0. For South Africa, their tour of India continued to get worse. Their Ranchi follow-on prolonged their nightmare. The last time South Africa followed on twice in a series was against England in 1964/65. In their home series, they followed-on in two consecutive Tests but they only managed to lose one as the four-match series ended 0-1 in favour of England.Also Read | Rohit Sharma Breaks This 71-Year-Old Record Of Sir Don BradmanThis was the third time that South Africa have followed on in two consecutive Tests. In the 2001/02 series between South Africa and Australia, South Africa followed on in the Sydney and Johannesburg as they lost the series 0-3 and 1-2 respectively. The Proteas are staring at a whitewash against India for the first time and it will not be a good way to start their ICC World Test Championships on a high. For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps.last_img read more

Tipp team due to be named tomorrow

first_imgThe starting 15 for Tipperary’s Munster Championship opener against Cork this weekend should be named tomorrow. The Premier County will kick off their 2016 campaign against the Rebels with a home clash in Semple Stadium on Sunday afternoon. Manager Michael Ryan is believed to be making his final preparations ahead of the match….while senior selector Declan Fanning says the players are very well prepared mentally for the challenge.  Fanning says that they’ve tried to plant a few key ideas in the players’ heads in recent weeksThrow in on Sunday is at 4 o’clock and Tipp FM will have full live coverage of the clash in association with Mulcahy Car Sales, Ardcroney, Nenagh.And ahead of that – Tipperary’s Munster Championship coverage gets underway this Friday evening from 7 pm as Tipp FM will be broadcasting live from LIT Thurles for our Championship Special hosted by Jackie Cahill.last_img read more