In pursuit of iron ore, the Australian mining company Rio Tinto, blasted through the historic caves of the Jukkan Gorge. The area is rich in aboriginal heritage dating back almost 50,000 years. Rio Tinto shareholders and investors were outraged, and the public outcry forced top executives to resign, according to CNN. Still, as per their contract, the executives receive separation pay and incentive rewards, begging the question whether Rio Tinto’s response is enough to appease critics and make up for the damage done.
On this Business Casual snippet, hosts Daniel Litwin and Tyler Kern consider the Rio Tinto situation in context with other high-profile companies facing accountability issues. Whose responsibility is it to keep large companies acting responsibly? Investors, shareholders, the general public? Litwin and Kern consider the power of investors’ words.
KEY POINTS:
- Australian mining company Rio Tinto faces serious backlash after destroying indigenous archeological site.
- With Rio Tinto executives ousted, has the scale been balanced?
- Public pressure pushed accountability on Rio Tinto, but whose responsibility is it to police unethical corporate behavior?
