From guns to climate, companies are taking on issues govt won't
They realise the value of taking a stand because their millennial customers would vote with their feet and go elsewhere
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IN the weeks since the Parkland school shooting, big US companies have found themselves in a familiar position: pressured to act on controversial social and political issues where government would not.
It is a trend currently manifested by firms cutting ties to the National Rifle Association (NRA) and efforts by large investors to reduce exposure to gun-makers. But with US politics more polarised than ever, moving forward on issues that Washington has failed to tackle is increasingly routine for corporate America, from coastal tech giants like Alphabet Inc to heartland icons such as Walmart Inc.
Whether that means more generous benefits for working mothers, support for politically vulnerable groups, or intensifying efforts to fight climate change, companies are stepping into a void once filled by political rhetoric and leadership. Jeff McDermott, managing partner of Greentech Capital Advisors, a New York investment bank focused on sustainable businesses, said: "We have to do it ourselves. The cavalry isn't coming."
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