Business is caught in political crossfire of ESG disputes

Conservatives have sued to prevent the Nasdaq stock exchange from requiring companies with fewer than two board members who are women or members of ethnic minorities to explain themselves. At the same time, legal complaints are coming in from consumer groups and those on the left against companies that make unjustified sustainability claims.

People reflected in the window of the Nasdaq MarketSite in Times Square, New York City © Spencer Platt/Getty Images The litigious fervour is, in some ways, typical of the way Americans have dealt with contentious issues in recent decades. A country made up of immigrants of different cultures, races and religions can try to force assimilation or find ways to balance the different points of view.

That requires thoughtful judges to sort out competing claims — something that is only just starting to happen when it comes to ESG-related issues. A New York federal judge recently found that shoe company Allbirds’ slogan “our sheep live a good life” was too vague to be misleading. However, a court in California is allowing a lawsuit to go forward that claims the labelling on Reynolds’ “recycling bags” tricks consumers into believing that the bags themselves are recyclable.

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