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If the corporate responsibility initiative arrives on November 29, the Zug-based commodities group Glencore would have to spend a lot of time on legal cases. Here’s what CEO Ivan Glasenberg said in an interview published Thursday with the “NZZ.” “Everyone could come to Switzerland with their case.” However, the way the Glencore mines would not change, he added.
However, Glencore could live with the higher costs and pressure on management capabilities. “Small and medium-sized companies should be more affected,” says Glasenberg. The CEO highlights that Glencore has been in the canton of Zug for almost 50 years. “We are proud to be in Switzerland.”
“Our activities are not mysterious”
The Glencore boss regrets that his company is perceived so badly in Switzerland. After all, Glencore is “one of the best mining companies in the world.” Perhaps the company is not proactive enough to explain why it is necessary. “Our activities are not mysterious.”
On November 29, Switzerland will vote on the Corporate Responsibility Initiative. He wants Swiss-based companies to be held liable if they, their subsidiaries or other foreign controlled companies violate human rights or environmental standards. As part of a due diligence process, companies must identify potential risks in the future and take appropriate countermeasures. This duty of care applies to all companies in the supply chain.
On the other hand they are the Federal Council and Parliament. They argue that a yes would be only for Switzerland, which would mainly damage the location of the business. The no-camp includes CVP, FDP and SVP, as well as business associations, especially the umbrella organization Economiesuisse. They fear a weakening of Swiss companies, the withdrawal of SMEs from developing countries, too much bureaucracy and exorbitant lawsuits.
Thus Joining the more than one hundred non-governmental organizations that have taken the initiative, the SP, Greens, GLP, EPP and BDP. There is also a civil committee with representatives from CVP and FDP.
BLICK answers the most important questions about the initiative here.
As soon as a company operates in a developing country, Europe is suspected of taking advantage of the situation and applying lower standards. “However, we have the same high standards in all of our production facilities,” emphasizes Glasenberg.
Glencore does a lot of good for developing countries
The Glencore boss is convinced that the company is doing a lot of good for developing countries: “In Congo-Kinshasa, for example, we invested more than 7 billion dollars. Glencore has paid a good $ 3.5 billion in taxes there since 2014, and we employ about 8,000 people there. “To build a mine, you have to invest” billions of dollars. “
Glencore wants to continue coal production despite criticism from environmental activists and sustainable investors. Apparently coal is still needed. Glencore is maintaining the coal mines and phasing them out.
Change at the top is excluded
Due to the coal business, Glencore has lost few investors, the CEO said. The company exchanges ideas with its investors about coal: “They are aware that coal is part of our business and that coal will continue to be an important part of the energy mix.”
Glasenberg, who had already announced his resignation as CEO some time ago, rules out a step to the top of the Board of Directors. This is possible with Swiss companies: “But Glencore is a company listed in Great Britain and the rules of the stock exchange are different there.” The next CEO should also “have no shadow over himself.” (SDA)
