Katie Fowler

During U.S. President Donald Trump’s first four years in office, the world came to learn a reliable lesson – judge him on what he does, not what he says. Yet this time, in his first fortnight in the White House, it is clear that when it comes to responsible business practices and the virtues of Environmental, Social and Governance (ESG) principles, Trump’s hostility is no mere campaigning ploy.

As soon as he was inaugurated on Jan. 20, the U.S. president confirmed plans to withdraw his country from the Paris Agreement in a widely politicised move aimed at, in his words, “ending Biden’s policies of climate extremism”.

A few weeks ago, Boohoo launched a huge fundraising round as its latest earnings report revealed the company continues to hemorrhage profitability. It is the latest act in the financial woes of the fast fashion giant, stemming from a 2020 Sunday Times report that exposed workers in one if its supplier factories toiled in appalling labour conditions for less than half minimum wage.

The fallout from the scandal was immediate. Boohoo’s share price tumbled, and £1.5 billion was wiped off the brand’s books in just two days.  Forty nine institutional investors then sued the company, alleging it made misleading statements, and failed to disclose information about the issue.