Accident-Prone AmazonĪfter bottoming out in March, Amazon ( AMZN)’s share price soared on strong sales, especially in the grocery segment, but it’s come at a cost. Views on a company’s overall business ethics also suffered, to round off the key Covid-19 related incidents.
Issues around employee health and safety lingered, while also negatively affecting labour relations.
Related cases include lawsuits filed by families of employees who died after contracting Covid-19, regulator involvement and safety probes.” “Around 34% of OH&S incidents (133 of 391) stem from the Consumer Discretionary sector, which has faced criticism for failing to provide adequate protective gear to workers and for breaching social distancing rules. “OH&S accounts for 31% of our sample – more than any other Event Indicator,” the report remarks. Top 10 Event Indicators By Number of Incidents and Involved Firms Employee and product safety were the main concerns and contributed to 273 downgrades for companies at risk of Covid-19 related events. “In January, the Shanghai Administration for Market Regulation opened an investigation into a Carrefour store in Xuhui, China and issued a CNY 2 million (US$ 290,000) fine for increasing food prices during the outbreak in defiance of a government order.”īut this type of business ethics risk wasn’t the top controversy. The first company picked up was Carrefour China. Sustainalytics says that when the ESG controversies began pouring in, it scrambled to adapt its tracking system to account for the toll the outbreak was taking.
“Moreover, Covid-19 has had a disproportionate impact on the US population, with more than 3.5 million confirmed human cases to date – more than any other country in the world.” Far from a Bell Curve: Corporate Covid-19 Incidents Time Distribution, First Half of 2020 “We attribute the prevalence of corporate Covid-19 incidents in the US to a combination of factors, including its large market economy, the pervasiveness of news media coverage in the country and the extensiveness of Sustainalytics’ tracking of firms with US operations,” the report notes. Corporate Covid-19 incidents occurred in 68 countries, but the US alone accounted for more than half of the cases.
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