December 4, 2022

According to the ethical rating agency, several companies have been accused of making statements about Russia that “look better than their actions”.

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ethical rating agency has published a list of companies, both in the US and abroad, accusing them of making “ethical” or misleading statements about their involvement with Russia. Among the 12 companies in the “Communication Hall of Shame” are PepsiCo Inc. pep,
-0.47%,
Johnson & Johnson JNJ,
-0.51%,
Chevron Corp CVX,
+1.05%,
Procter & Gamble Company PG,
-0.58%,
Dell Technologies Inc. Dale,
-5.31%
and Goldman Sachs Group Inc. gs,
-0.66%,

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To compile its latest report, the Moral Rating Agency analyzed declarations from 112 companies that were involved in Russia’s invasion of Ukraine on February 24. The agency classified a “communication failure” into four categories: “misleading words,” “wiggle-room wording,” “red herring” statements, and not properly disclosing one or more Russian activities, which the researchers identified as describe it as “corporate amnesia”.

Mark Dixon, founder of Moral Rating Agency, said in a statement, “The 12 worst offenders didn’t fail to get out of Russia properly.” “They too often morally washed up their failures by saying one thing and doing another.”

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Six months after Russia’s invasion of Ukraine, the Ethical Rating Agency’s ‘Courage Index’ analyzes companies’ statements on Kremlin aggression

“Continuing to work with Russia is immoral, but washing it morally is ‘doubly immoral’,” he said.

PepsiCo tops the list of Moral Rating Agency. Researchers accused the consumer giant of issuing “confusing words”, “corporate amnesia” and “red herring” statements at several points about its snack-production business in Russia.

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The agency pointed to a Reuters report good Last month, PepsiCo stopped making Pepsi, 7Up and Mountain Dew in Russia after the company said it would suspend sales and production in the country.

Reuters reported that he visited dozens of supermarkets, retailers and gyms in Moscow and other regions and found printed Pepsi cans and bottles with July and August production dates from factories in Russia.

PepsiCo on March 8 published A letter sent via email to employees by CEO Ramon Lagarta. In the letter he announced the suspension of “sales of Pepsi-Cola, and of our global beverage brands in Russia, including 7Up and Mirinda.”

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A PepsiCo spokesperson cited the company’s recent statement to MarketWatch. “In line with what we announced in March 2022, we have stopped manufacturing relevant concentrates for Pepsi-Cola, Mirinda, 7Up and Mountain Dew in the Russian market and suspended capital investment, advertising and promotional activities in Russia ,” said the company. , “All concentrates have since been exhausted in Russia and production has ceased.”

The ethical rating agency argues that PepsiCo used misleading terms in its statement issued on March 8. “When using the term ‘sales’, the company’s initial statement did not specify that it was simply suspending delivery of the concentrate, which the company only clarified when continuing production and sales were uncovered by Reuters. was done,” it said in its research.

The Ethical Rating Agency accused Dell of “corporate amnesia” in relation to its ownership of a development center in St. According to the agency, months before the center’s closure was announced.

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A Dell spokesperson told MarketWatch that the company closed its offices and ceased all Russian operations in mid-August. “Back in February, we decided not to sell, serve or support products in the Donetsk and Luhansk regions of Russia, Belarus and Ukraine in addition to the already banned Crimea,” the spokesperson added in an emailed statement.

In relation to Johnson & Johnson, the ethical rating agency accused the company of using “misleading terms”, arguing that the company’s initial statement on March 4 did not disclose the status of its personal care products, which was later suspended.

Despite much discussion, many US companies still haven’t been able to fully exit Russia: Moral Rating Agency

A Johnson & Johnson spokesperson told MarketWatch a . referred to as Statement Issued by the company on March 29. At the time, Johnson & Johnson announced its decision to suspend the supply of personal care products to Russia.

Johnson & Johnson suspended all advertising, enrollment in clinical trials and any additional investment in the country in early March. “We will continue to support those most directly affected and are committed to providing access to our essential medical products in the countries where we operate in compliance with current international sanctions,” it said. Statement on 4 March

Chevron, Procter & Gamble and Goldman Sachs had not yet responded to a request for comment for this story.