Since then, Shell has rewritten its business principles, created an elaborate mechanism to implement them, and worked harder to improve its relations with NGOs. Remarkably, Shell s efforts had no clear legal or financial pressure behind them. Neither of the 1995 rows, says Robin Aram, the man in charge of Shell s policy development, did lasting damage to the company s share price or sales although the Brent Spar spat brought a brief dip in its market share in Germany, thanks to a consumer boycott. But, he adds, we weren t confident that there would be no long-term impact, given the growing interest of the investment community in these softer issues. And he also concedes that there was a sense of deep discomfort from our own people.
People seem happier working for organisations they regard as ethical.
In a booming jobs market, that can become a powerful incentive to do the right thing. In America there is now a veritable ethics industry, complete with consultancies, conferences, journals and corporate conscience awards. Accountancy firms such as PricewaterhouseCoopers offer to audit the ethical performance of companies. Corporate-ethics officers, who barely existed a decade ago, have become de rigueur , at least for big companies. The Ethics Officer Association, which began with a dozen members in 1992, has 650 today.