ESG Poster Child Unilever Waters Down Green Pledges [Financial Post (Toronto, Ontario, Canada)]
Unilever PLC (UL)
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unilever.com/investor-relations
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Unilever Plc plans to abandon or water down a string of environmental and social pledges against the backdrop of a growing backlash from investors, consumers and politicians against companies pursuing non-financial objectives. The move by Hein Schumacher, Unilever's chief executive officer, marks a major shift for the £95 billion ($118 billion) consumer group — home to brands ranging from Hellmann's mayonnaise to Domestos bleach — which has built its business strategy on a bedrock of ESG policies for more than a decade. Seen as the corporate world's biggest cheerleader for the idea that companies should do good in the world, the downgrading of some commitments will be watched closely by other businesses under shareholder pressure to reduce costs and boost stock market performance. Article content Article content Unilever, one of the world's bigg
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