Vattenfall wins embarrassing award
Swedish power giant awarded for "outrageous use of green spin to support their dirty business model".
Do you ever get the feeling that many companies' newborn environmentally friendly approach is just a catchpenny? A coalition of Danish organizations decided to find out what the general public thinks.
For Vattenfall AB, the Nordic region’s biggest utility, the result must have been a shock. No other company has made more outrageous claims to be green, the poll said, rewarding the company with the not-so-glamorous Climate Greenwash Award 2009 at a ceremony in Copenhagen on the eve of the World Business Summit on Climate Change.
“We would like to congratulate Vattenfall for their outrageous use of green spin to support their dirty business model”, Climate Greenwash Awards Coordinator Kenneth Haar said in a statement.
| Result of the vote | |
| Company | % |
| Vattenfall | 38.96 |
| Shell | 19.35 |
| Dong | 14.4 |
| ArcelorMittal | 9.7 |
| BP | 9.34 |
| Repsol | 8.26 |
Vattenfall, owned by Sweden, won 39 percent of the votes, beating companies like Shell and BP.
"Vattenfall has successfully lobbied the EU for funds to develop carbon capture and storage technology. But even if this unproven technology works, it will not help reduce emissions quickly enough to help prevent the threat of climate change", Kenneth Haar said.
The Danish Government was also given a special award for its role in helping establish the World Business Summit on Climate Change “which is expected to attract some of the world’s most polluting companies”.
The Climate Greenwash Awards 2009 are organized by Corporate Europe Observatory, ATTAC-Danmark, the Climate Movement of Denmark, KlimaX and Friends of the Earth Denmark.
Last Updated (Tuesday, 23 June 2009 06:23)
Swedish stocks will continue to increase
STOCK MARKET – Three out of four companies on the Stockholm exchange have reported better-than-expected earnings and analysts believe in continued growth.
Sweden to crack down on SMS loans
The Swedish government will crack down on highly popular youth-targeted SMS loans, as the left-wing opposition demanded a total ban on the loans to minors.
Sweden to build new nuclear plants
State-owned energy giant Vattenfall plans to build new nuclear reactors in Sweden.
Denmark's PM: Climate summit will fail
It's not possible to reach a legally binding international agreement at the UN Climate summit, Danish Prime Minister said.
• Denmark warns of Copenhagen fiasco • Sweden tells US to step up on climate change • Reinfeldt 'very worried' on climate negotiations • Time to 'break deadlock' on climate change • Environment talks with US "progressing slowly"
Swedish fund investors turn to emerging markets
Swedish fund investors turn to emerging markets, such as Russia, Brazil and Latin America, as risk appetite swells.
Volvo's image at risk in Chinese hands
Geely Automobile will face the tough challenge of ensuring Volvo Cars reputation for safety, analysts warned.
• China's Geely is 'preferred bidder' in Volvo sale
• Reinfeldt wants Volvo jobs to stay in Sweden
SAS’ plan to swing back into profit
Scandinavian airline SAS Group knows how to swing the company back into profit – it's just to copy a Norwegian competitor.
Estonia will repay crisis Swedbank loan
Estonia revealed on Thursday that it would repay a 50-million-euro crisis bank loan from Swedish bank Swedbank.
Iceland: 'Thank you IMF'
Iceland welcomed a decision by the International Monetary Fund to release the second installment of a loan to aid its economic recovery.
ABB warns of uncertain outlook after profit gain
Swedish-Swiss engineering group ABB swelled its third quarter net profit but warned that the outlook into 2010 was "uncertain."
Reinfeldt wants Volvo jobs to stay in Sweden
Sweden's Prime Minister welcomes Chinese Geely Automobile as "preferred bidder" for Volvo – but wants the jobs to stay in Sweden.
'We will not pay the bill for the crisis'
"It is not acceptable to have a situation where industrial workers once again have to pay the bill for the crisis", writes Stefan Löfven, President of the Swedish industrial workers' union IF Metall, ahead of the negotiations on new national collective agreements.
China's Geely is 'preferred bidder' in Volvo sale
Although China's carmaker Geely is Ford's first choice in the sale of Volvo, rival bidder Konsortium Jakob "will not give up".
Norway first in Europe to hike interest rates
Norway on Wednesday became the first European country to raise interest rates this year in the global financial crisis.
Greenpeace dumps coal at Swedish govt offices
Watch the film: Environmental activists dumps 18 tonnes of German coal outside Sweden's government offices.
Upbeat signals from the Swedish banks
Although economic uncertainties remain high for Swedish banks, overall risk levels have gone down and loan losses are stabilizing.
• Nordea sees higher profit after strong quarter
• Handelsbanken reports quarterly profit setback
Telia facing more trouble in the Baltics
Swedish telecom operator TeliaSonera holds its forecast for the year despite tough trading conditions in Baltic countries.
• Ericsson hit by tough market conditions
• Nokia posts first quarterly loss in a decade
