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Glencore Receives the “Black Planet Award”

In Novemeber 2012, the ethecon Foundation Ethics & Economics awarded their “Black Planet” award to the Swiss commodity trading company, GLENCORE. The foundation recently presented the award to Glencore’s executives, including Ivan Glasenberg, Simon Murray, and Tony Hayward, as well as some of their prominent shareholders at Glencore’s annual shareholder meeting on 16 May 2013. The foundation’s goal was to once more echo the company’s irresponsible business practices and call for reform.

The award spurned executives and shareholders for consistently failing to uphold environmental and ethical considerations in their business practices. This was Tony Hawyard’s, (Glencore’s Non-Executive Director), second time receiving this award; he first received it in 2010 as the chief executive of the oil giant, BP.

Glencore is currently the world’s largest commodity trader, and since its merge in early May with the coal giant, XSTRATA, it holds the title of largest coal exporter as well. Glencore is also notorious for instances of price manipulation, environmental pollution, corruption, and forced land seizures.

Read the ethecon Foundation’s full report here

Read Glencore’s company profile here