Polls still open for world’s worst company awards

 

A controversial British security firm, an Indian energy giant and the global posterboy for the financial crisis are among the seven companies that have been shortlisted as the world’s worst.

Now in its ninth year, the Public Eye Awards is an annual showcase for international companies that have been involved in some of the worst cases of corporate human rights abuses and environmental negligence.

Organised by the Swiss not-for-profits Berne Declaration and Greenpeace Switzerland, the ‘winners’ will be announced during the World Economic Forum in Davos, although the online poll for voting is open to the public until 23 January.

The seven shortlisted companies are British security firm G4S, Dutch oil giant Shell, Coal India, US financial powerhouse Goldman Sachs, French energy and transport company Alstrom, Swiss energy corporation Repower and the London-listed South African mining company Lonmin.

Shell is currently leading the pack for the People’s Choice Award. It has been accused of “irresponsible corporate behaviour” for its plans to explore oil in the fragile Arctic region despite the immense environmental risk.

This month, Shell will also find out whether it will be found guilty of causing environmental damage in the Niger Delta region in Nigeria.

If it is, this would be the first time that a European company has been held accountable for crimes committed in a foreign country, and could set an international precedent.

Close behind in second place is Goldman Sachs, described by the Public Eye committee as the “vampire of finance capital” for the way it has profited from the global finance crisis.

G4S, which gained world headlines for its security failures prior to the London Olympics, is in third place for providing security personnel to some of the world’s most oppressive regimes.

Brazilian mining giant Vale was the winner of last year’s People Award for its destructive social and environmental policies in the Amazon rainforest while the British banking group Barclays was awarded the Jury’s Choice Award for helping to drive up food prices.

This year’s shortlist was selected by a panel of ethical business specialists, including Greenpeace Executive Director Kumi Naidoo, using over 20 expert reports.

The winners will be announced on Thursday, 24 January at an awards presentation in Davos which will be attended by economics professor and former banking regulator William K. Black.

Author of the book The Best Way to Rob a Bank Is to Own One, Black will speak about corporate criminality and other topics.

 

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