Skip to content

8 February, 2023

Subscribe Advertise About Us
  • My Account
  • Register
  • Log In
  • Log Out

Board Agenda

  • Governance
  • Strategy
  • Risk
  • Ethics
  • News
    • Categories

      • View All
      • Board Moves
    • CEO legacy

      Long-standing CEOs can leave a legacy of trouble for boards

      Performance and productivity can suffer after a long-tenured chief executive leaves the company, researchers find.

    • cost-of-living crisis Aviva highlights cost-of-living crisis

      Fund calls for ‘mindful’ pay ratios, showing executive pay is now firmly an issue for...

    • diversity talent pipeline News round-up: this week in governance

      Target diversity early; directors job market 'ossified'; US extends duty of oversight; 'kindness bias' hinders...

  • Insight
    • Categories

      • View all
      • Governance
      • Strategy
      • Risk
      • Ethics
      • Board Expertise
      • finance
      • Technology
    • mission zero

      Can the UK achieve net zero by 2050?

      To gain economic benefits, UK businesses will need resilient and flexible supply chains to provide...

    • governance recession

      What use is governance in a recession?

      Companies seeking competitive advantage in uncertain times will find that effective governance allows much sharper...

    • climate litigation

      Climate litigation: how 2022 will shape 2023

      This past year saw a rise in climate litigation, with a focus on the commercial...

  • Comment
      • View all
    • A week of business moving to the centre of human rights

      A week of events signals the initiatives underway to have companies play a central role...

    • audit reform IIA Why we need audit reform right now

      There is an "urgent need" for reform to the audit landscape as well as internal...

    • climate change energy crisis Sustainability and climate change: the other energy crisis

      The world is addicted to cheap energy. We need to admit this and have the...

  • Interviews
      • View All Interviews
      • Podcasts
      • Webinars
    • Board priorities 2023 Board priorities 2023: tact, trust and transparency

      We asked key figures what would help boards this year. The answers ranged from 'smarter...

    • Group of investors/shareholders in glass building Climate issues likely to figure prominently at next year’s AGMs

      A recent webinar heard that say-on-climate voting is expected to rise, while ESG remains a...

    • NEDs role NEDs ‘needed more than ever’ in times of uncertainty

      The non-executive director’s role is to both challenge and listen to management, agreed the panel...

  • Careers
      • View all
      • Selection
      • Board Moves
    • CEO legacy Long-standing CEOs can leave a legacy of trouble for boards

      Performance and productivity can suffer after a long-tenured chief executive leaves the company, researchers find.

    • diversity talent pipeline News round-up: this week in governance

      Target diversity early; directors job market 'ossified'; US extends duty of oversight; 'kindness bias' hinders...

    • NED recruitment News round-up: this week in governance

      Your country needs NEDs; governance does not compute; financial firms get more women on board;...

  • Resource Centre
      • White Paper Downloads
      • Book Reviews
      • Corporate & Advisory Services
    • Edelman Trust Barometer 2023

      2023 Edelman Trust Barometer

      The report is the result of the Edelman Trust Institute's research, which sampled more than...

    • Sophos 2023 Threat Report

      Barriers to entry for would-be cybercriminals are lower, with tools and tactics becoming available to...

    • The C-Suite Outlook 2023: On the Edge

      The Conference Board 2023 C-Suite Outlook survey reveals the events that C-suite executives see as...

  • Events
  • Search by topic
    • Governance
    • Strategy
    • Risk
    • Ethics
    • Regulation
    • ESG
    • Investor Relations
    • Selection
    • Board Expertise
    • finance
    • Technology

Facebook under scrutiny by ESG funds as shares plummet

by Gavin Hinks on March 27, 2018

Reports suggest the data protection controversy that wiped billions from the market value of Facebook is now considered an ESG issue for fund managers.

Facebook

Photo: Shutterstock

The mire in which social media platform Facebook finds itself over the protection of user data deepened this week as it emerged that some ethical funds have dropped the company’s shares.

Bloomberg reports that some funds now consider the stock so “toxic” that they have included it among big polluters or “ethically challenged” companies.

Reports say BetaShares Global Sustainability Leaders ETF and Nordea Bank have both turned on Facebook shares.

The news follows revelations that the user data of up to 50 million individuals was harvested from Facebook and then passed to Cambridge Analytica, a political consulting firm, for use as part of Donald Trump’s election campaign.

Bloomberg quoted one manager in charge of responsible of investment as saying that data security and privacy were “significant” ESG risks.

The controversy surrounding Facebook has wiped around $90bn from its market value.

A consumer campaign on Twitter saw calls for users to stop using Facebook with the hashtag #DeleteFacebook.

  • Facebook
  • Twitter
  • Google+
  • LinkedIn
  • Mail

Related Posts

  • Facebook owner Meta names Tony Xu as board director
    January 18, 2022
    Meta logo and Facebook logo

    Xu is co-founder, chief executive officer and chair of DoorDash, the leading online food delivery company in the US.

  • Investment managers hesitant to embrace ethics as part of ESG
    March 21, 2022
    Business ethics on cogs

    Study finds investors shy away from direct talk of ethics, but some are assessing company culture as an indicator of ESG performance.

  • Boards need dedicated ESG committees 'as part of company strategy'
    November 25, 2021
    Board members discussing ESG

    Report for the Institute of Directors says boards need to integrate ESG into strategy and operations as a response to climate concerns.

  • Companies 'may inflate ESG performance' to boost ratings
    June 17, 2022
    Green stock market graph

    Researchers say firms may exaggerate their ESG performance over fears that investors will divest from their stock.

For thoughtful journalism, expert insights on corporate governance and an extensive library of reports, guides and tools to help boards and directors navigate the complexities of their roles, subscribe to Board Agenda

#DeleteFacebook, BetaShares Global Sustainability Leaders ETF, Cambridge Analytica, data ethics, ESG, Facebook, Nordea Bank

Search


Sign up to our Newsletter

Receive independent news, thoughtful journalism & expert insights about leadership, corporate governance & key boardroom issues straight to your inbox every week.

SIGN UP

Follow Us

 

 

 

 

Most Popular

  • Investors favour votes against directors over say-on-climate proposals
  • Shell overhauls its board
  • ESG grows in importance as driver of M&As
  • What use is governance in a recession?
  • News round-up: this week in governance
 

Featured Partner Profile

Diligent

Diligent

Diligent Corporation, which was founded in 2001, is headquartered in New York, NY with a European HQ in London. Diligent’s modern governance platform empowers leaders and teams at every level of the organisation to digitally transform and create ...

Featured Partner Resources

2022 AGM Season Forecast: An Eye on The Horizon

To help prepare for AGMs in 2022, Equiniti (EQ) hi...

Stakeholder Engagement: A Roadmap for UK Plc Boards

This guide aims to provide directors and their col...

Digital Boards: How Technology Adoption is Driving Culture Change and Resiliency

Digital tools proved their worth to boards during ...
Leadership in AI report

Leadership in AI

This report from Board Agenda and Mazars, in assoc...
Creativity in a Crisis: a Boardroom Map for Innovation

Creativity in a Crisis: a Boardroom Map for Innovation

In the uncertain times at the height of any crisis...
Board Directors Guide to D&O Liability Insurance - November 2020 - AIG & Board Agenda

Board Directors' Guide to D&O Liability Insurance

Directors face liability over a range of new threa...
Leadership-in-Risk-Management-Board-Report

Leadership in Risk Management: Board Report

Board Agenda, in association with Mazars and INSEA...
Director's Guide to Internal Investigations

A Director's Guide to Conducting Internal Investigations

An internal investigation must be handled meticulo...

 


 

ADVERTISE – FREE CORPORATE LISTING

FREE - Add your company profile to our Corporate & Advisory Directory.
ADD

ADVERTISE – PROMOTE YOUR REPORTS & WHITEPAPERS

FREE - Add your company profile to our Corporate & Advisory Directory.
Add Resource

Register Free

Register to receive free article views, selected resource downloads, and all the latest news alerts straight to your inbox. Register


  • Editors & Contributors
  • Editorial Advisory Board
  • Corporate & Advisory Services
  • Media Marketing Solutions
  • Contact Us
  • Careers
  • Board Director Network
  • Terms & Conditions
  • Privacy Policy
  • Cookies
  • Sitemap
|