Octopus outfoxed: Challenger brand tops Which? energy survey January 25, 2021 A small provider has ended Octopus’ two year reign at the top of Which’s annual survey of energy companies. Outfox the Market, which was only founded in 2017, rose from 19th in the table last year to top the rankings in Which’s energy satisfaction survey. The small energy provider frequently offers some of the cheapest [...]
Tesco, M&S and Sainsbury’s face allegations of worker exploitation in India November 17, 2020 UK retailers including Marks & Spencer (M&S), Tesco and Sainsbury’s are facing calls to apologise following allegations of worker exploitation in their supply chains. Supermarket supplier workers in India reportedly said they do not get toilet breaks or sufficient breaks to drink water or eat lunch. One member of staff told the BBC they were [...]
Corporate spy firm tries to clean up ‘James Bond’ industry’s image July 29, 2020 Technology firm Ground Truth Intelligence (GTI) has today launched its ethical investigations platform in London, as the company seeks to shake-up the corporate intelligence industry following high-profile scandals involving companies such as Lekoil and Credit Suisse. The London-headquartered firm is set to provide an “alternative approach” to the global intelligence and investigations industry, offering ethical [...]
“DO sweat the small stuff”: how ESG missteps impact future performance July 21, 2021 We’ve written extensively on our concept of “corporate karma” – the idea that what goes around, comes around with regard to how companies treat their stakeholders. Since the start of the pandemic, we’ve written about our belief that a new social contract is emerging, particularly in relation to how employers treat their employees, and we’ve shown how it’s [...]
It’s a myth to say sustainable and ethical clothing can’t be affordable April 8, 2021 Forced labour. Environmental hazard. A race to the bottom. It is no secret that the fashion industry is broken. Clothes are the second highest products at risk of slavery and produce around 10 per cent of global greenhouse gas emissions – that’s more than planes. With labour supply across the global supply chain exceeding demand, fashion [...]
H&M to close 250 stores as pandemic accelerates shift online October 1, 2020 H&M has announced plans to close around 250 stores globally next year, as the Swedish retailer looks to bolster its online presence following a slump in bricks-and-mortar sales during the pandemic. The announcement comes on top of the 50 H&M stores already permanently shuttered this year, and will likely add to the “tens of thousands” [...]
MPs demand update on audit reform progress from business secretary October 21, 2020 An influential committee of MPs has written to business secretary Alok Sharma to demand an update on the government’s progress implementing audit reforms following a series of high-profile accounting scandals. In a letter dated yesterday, Business Energy and Industrial Strategy (BEIS) committee chair Darren Jones asked Sharma to outline which reforms recommended by two recent [...]
Laws won’t make modern slavery any more illegal, investors must put their foot down for businesses to change March 17, 2021 The first laws passed in the UK to abolish the slave trade date back to 1833. The global treaty banning slavery came into force in 1927. We are fast approaching 100 years of human history in which the trade in people has been as illegal as it could possibly be. And yet in the UK, [...]
A New Look for high street retail? Here’s what matters in the Covid-19 world September 16, 2020 It has been what Sir Alex Ferguson used to call “squeaky bum time” for fashion retailer New Look these past few days. On Monday it was being reported that British Land and Landsec, two of the chain’s biggest landlords, were preparing to vote against the proposed company voluntary arrangement (CVA) which would have switched the [...]
Accounting watchdog floats strengthening auditors’ obligation to spot fraud October 21, 2020 The UK’s accounting regulator has proposed increasing the requirements on auditors to detect fraud in company accounts following a spate of high-profile accounting scandals. The Financial Reporting Council (FRC) has launched a review into the international accounting standard outlining auditors’ responsibilities to identify fraud. The watchdog is proposing revisions to the standard to provide “increased [...]