Covalence EthicalQuote » ADM

Good tax planning set to become a CSR target

info — Mon, 19 Sep 2011 14:19:23 +0000

Tax avoidance is ‘as big an issue as sweatshops’, and could become the main target for CSR activity, a global charity has said. The international poverty NGO ActionAid has stated a ‘business case’ for good tax practices and recommendations for companies to achieve them. It says following the letter of the law is no longer sufficient to protect business from the risks associated with tax planning, that inadequate tax planning transparency increases risk, and that the structures and practices of tax planning are at the heart of tax responsibility, rather than the amount paid as a result. At present, taxation is not viewed as a core CSR issue, and has been seen by companies as someone else’s responsibility – a feature, says ActionAid, of a nascent CSR issue. It suggests remedial measures for businesses, including: creating a company tax policy stating the principles applied and the practices banned; ensuring board-level supervision of tax policymaking; disclosing a range of information on tax practices and their impacts. ActionAid suggests businesses work together and with stakeholders to formulate a mutually agreed code of conduct on tax. In the UK, large multinationals such as Barclays and Vodafone have been subjected to direct political action over allegations of tax evasion. More recently, some of the world’s largest grain traders, including ADM, Bunge, Cargill and Dreyfus, have been accused of huge non-payment of corporate tax in Argentina. The country’s revenues and customs department is seeking almost $500m (£307m, €346m) from them. Martin Hearson, ActionAid’s tax policy adviser, said: “So far businesses have reacted to criticism of their tax avoidance by denying any responsibility. “This is exactly how the fashion industry reacted when claims of ‘sweatshop’ abuses emerged in the 1990s. Just as fashion companies who failed to take these allegations seriously incurred major reputation damage, so businesses accused of tax avoidance need to respond with more than reflex denials.” More…

News selected by Covalence | Country: Global | Company: ADM, Bunge, Cargill, Dreyfus | Source: Ethical Performance

Agri-groups are fighting anti-child labor bill, group warns

info — Tue, 08 Apr 2008 08:25:45 +0000

A US advocacy organization has accused commodity companies Archer Daniels Midland (ADM) and Cargill of lobbying against a bill that would protect against child labor practices in supply countries. According to the International Labor Rights Forum (ILRF), ADM and Cargill are against section 3104 of the Farm Bill, which was put forward in 2007. This particular section calls for the voluntary certification of child labor status in relation to agricultural imports, in an effort to stamp out the practice. However, the ILRF claims that ADM and Cargill have started “an aggressive lobbying effort” in the House of Agriculture for the bill not to be passed. ADM was unable to comment when contacted by FoodNavigator-USA.com, while Cargill did not respond to requests for information in time for publication. The accusation is likely to gather attention worldwide, particularly from ethical shoppers, as ADM and Cargill both pledge sustainable labor practices in their corporate literature. For example, both are members of the World Cocoa Foundation, which supports cocoa farmers in countries like Ghana and the Cote D’Ivoire. Image source: thecornerreport.com. > Continue.

News selected by Covalence | Country: USA | Company: Archer Daniels Midland (ADM), Cargill | Source: Food Navigator.com

Covalence Food & Beverage Industry Report 2007

info — Sun, 10 Feb 2008 23:01:12 +0000

The Food & Beverage industry is consolidating its ethical record thanks to labour and environmental initiatives, but it has to fight hard to demonstrate the social utility of its products, states a report published today by Geneva-based ethical reputation research firm Covalence – Covalence Food & Beverage Industry Report 2007. The Food & Beverage industry is progressively closing the gap with leading industries (Pharmaceuticals, Technology Hardware, Automobiles & Parts and Banks). It currently occupies the fifth position in the EthicalQuote reputation ranking comparing ten industries. In 2007, Food & Beverage showed the second best progression, just between Technology Hardware and Automobile & Parts. > Continue.

Publication: Covalence Press Release | Country: Global | Company: Archer Daniels Midland, Cadbury Schweppes, Coca-Cola Co., Danone, Diageo, Heineken, Heinz, Hershey Foods, Kellogg Co, Kraft Foods, Nestlé, PepsiCo, SABMiller, Sara Lee, Starbucks, Unilever | Source: Covalence