Company Directory - ABB
Company Details - ABB
ABB
WebsiteZurich, Switzerland
ABB is a global technology leader specializing in electrical equipment, power and automation technologies. The company provides comprehensive analytical systems and solutions in system integration for industries and utilities.
CCI Score
CCI Score: ABB
7.42
Latest Event
ABB Publishes 2023 Integrated Report Showcasing Sustainability and Social Progress
ABB released its 2023 Integrated Report outlining significant sustainability achievements, including a 76% reduction in scope 1 & 2 greenhouse gas emissions, a 21% reduction in energy consumption, increased reliance on renewable energy, enhanced waste recycling practices, improved workplace safety, and increased representation of women in senior management. The report also emphasizes robust community engagement efforts.
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OBJECTOR
ABB is currently rated as an Objector.
Latest Events
- FEB232024
ABB released its 2023 Integrated Report outlining significant sustainability achievements, including a 76% reduction in scope 1 & 2 greenhouse gas emissions, a 21% reduction in energy consumption, increased reliance on renewable energy, enhanced waste recycling practices, improved workplace safety, and increased representation of women in senior management. The report also emphasizes robust community engagement efforts.
+60
Business Practices and Ethical Responsibility
March 28
The Integrated Report details strong ethical business practices through significant reductions in emissions, energy consumption, and waste, alongside improved workplace safety and gender diversity in leadership. These actions support community well-being and environmental justice, aligning with progressive, anti-authoritarian principles.
+50
Technology and Services Impact
March 28
ABB’s technological leadership is emphasized through its efforts to reduce greenhouse gas emissions and improve energy efficiency. The report highlights a robust use of renewable energy and innovations that contribute to a low-carbon society, supporting environmental sustainability and reinforcing the company’s positive impact in technology and services.
- DEC312023
ABB Group spent $460,000 on federal lobbying in 2023, as reported by OpenSecrets, highlighting its active engagement in influencing U.S. policy-making processes.
-30
Political Contributions and Lobbying Efforts
March 28
The reported $460,000 spent on lobbying in 2023 suggests that ABB is actively engaging in political influence activities. From an anti-fascist perspective, such lobbying can contribute to corporate entrenchment in policy-making processes, potentially undermining democratic accountability and favoring elite interests.
- DEC312023
OpenSecrets data reveals that ABB Group spent $460,000 on lobbying in 2023, focusing on energy and nuclear power issues. This lobbying expenditure reflects corporate political behavior that may prioritize company interests over public accountability.
-30
Political Contributions and Lobbying Efforts
March 28
ABB Group's lobbying expenditure of $460,000 in 2023 indicates significant corporate political activity. Such spending can be used to influence policy decisions in favor of corporate interests, often at the expense of transparent, democratic governance. From an anti-fascist perspective, this type of activity may contribute to an imbalance of power that undermines public accountability.
- JAN012023
ABB has rolled out its Sustainable Supply Base Management Program to improve supplier sustainability and responsible sourcing. The program builds on a robust Supplier Code of Conduct aligned with international human rights and labor standards, ensuring that suppliers operate in accordance with ethical and sustainable practices.
+80
Supply Chain Ethics
March 28
The program emphasizes adherence to international human rights, labor standards, and environmental guidelines, as outlined in the Supplier Code of Conduct. By instituting comprehensive due diligence and monitoring processes across its extensive global supply chain, ABB is promoting ethical sourcing and responsible supply practices, which counters exploitative labor practices and supports marginalized communities.
- DEC312022
ABB’s 2022 Sustainability Report details a series of measures to enforce responsible sourcing practices. The report outlines initiatives such as mandatory supplier self-assessments, rigorous on-site verifications, comprehensive training of 26 employees and 54 suppliers, and the termination of relationships with seven suppliers for failing to meet corrective action plans. The report also mentions the investigation of three reported cases of working conditions potentially involving modern slavery.
+70
Supply Chain Ethics
March 28
ABB has implemented a rigorous Sustainable Supply Base Management approach which includes training programs, risk-based monitoring and the termination of supplier relationships that fail to meet its ethical standards. These actions strengthen supplier oversight and transparency, reinforcing ethical sourcing practices.
+50
Labor Relations and Human Rights Practices
March 28
The report also shows ABB’s commitment to labor rights and human rights practices by monitoring working conditions across its supply chain. The investigation of reported modern slavery cases, despite being unresolved, indicates an active engagement in addressing human rights risks within supplier operations.
- DEC032022
ABB agreed to pay $315 million to settle US criminal charges stemming from bribery allegations involving state-owned Eskom in South Africa. The settlement follows revelations that the company engaged in sham negotiations and misreported bribery payments as legitimate business expenses to secure government contracts.
-80
Business Practices and Ethical Responsibility
March 28
The settlement is a result of credible evidence that ABB engaged in bribery to secure government contracts, compromising ethical business practices. The company's actions not only violated the US Foreign Corrupt Practices Act but have also contributed to undermining institutional integrity and public trust. This incident continues a pattern of unethical behavior given its previous FCPA-related cases.
ABB to pay $315 mn to settle US charges over South Africa bribes
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