Unilever gives up on ‘saving the world' after ‘virtue-signalling' backlash [Yahoo! Finance]
Unilever PLC (UL)
US:NYSE Investor Relations:
unilever.com/investor-relations
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Source: Yahoo! Finance
The consumer goods giant, which owns Marmite, Dove, Magnum and Ben & Jerry's, has watered down green targets and scrapped some diversity pledges after investors told it to focus more on profits and less on social and environmental issues. Chief executive Hein Schumacher, who took charge last July, told Bloomberg: “I'm not going to shout that ‘we're saving the world', but I want to make sure that in everything that we do, that it is indeed better.” Unilever has softened targets to reduce its use of plastic, improve the health of the land in its supply chain and ensure all the people in its supply chain are paid the living wage. A promise to increase the number of disabled employees to 5pc of its workforce by 2025 has been scrapped altogether, as have plans to spend almost £2bn with “diverse businesses” across the world by 2025, and to halve food waste in its operations by 2025, Bloomberg reported. Mr Schumacher said Unilever would focus on doing “fewer things and with greater
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