Leadership matters.
Business Responds to Events in Ukraine
At the Council for Inclusive Capitalism, we have been deeply alarmed by the tragedy unfolding in Ukraine. We have also been heartened by the business community’s determined response, from heartfelt statements of solidarity to humanitarian aid to the rapid adjustments being made to business strategies, investments, and operations.
Leadership from all sectors that upholds the rule of law is fundamental to strong economies and healthy and stable societies. Historical moments like these can change the social, economic, and political landscape for generations to come.
The private sector response to Russia’s invasion has been a remarkable show of leadership. It shows that business leaders understand the corrosive effect of international law violations to their companies, the markets they operate within, and their customers. It shows a recognition of businesses’ agency in upholding a rules-based order. Furthermore, these actions show that short-term profit matters less than acting to protect the stronger, dynamic economies and societies that provide the foundation of sustainable growth. Such a stand is not only the right thing to do – it is also in the best interest of companies over the longer term.
Together with the OECD and Business for Inclusive Growth (B4IG), the Council recently convened business leaders to share their actions and ideas for responding to this crisis and coordinate sustained support for those impacted by the events in Ukraine. While businesses face different circumstances that will determine whether and how to respond to these events, if you are looking for a pathway to action, consider supporting one of the organizations below that are mobilizing for those impacted by this crisis:
The International Trade Union Confederation (ITUC) has launched an emergency fundraising appeal for Ukraine. Funds donated will be channeled to two of ITUC’s on-the-ground member organizations, FPU and KVPU, to provide housing and supplies to families in Ukraine and in neighboring countries hosting refugees.
Welcome.US is a national initiative built to inspire, mobilize, and empower Americans to welcome and support those seeking refuge in the United States. They offer a wide range of resource and guidance for individuals and companies to sponsor and employ newcomers, as well as opportunities to donate funds and supplies to bolster others providing welcome.
The International Committee of the Red Cross (ICRC) has been working in Ukraine since 2014. Working closely with the Ukrainian Red Cross Society, they are increasing their response to the humanitarian needs in Ukraine through food, water, and other essential items; medical equipment for hospitals; and reconnecting families separated by escalating violence.
How Business Is Responding
Allianz
10 million euros to support humanitarian efforts and 2.5 million euros to match employee donations. First million going to German Red Cross.
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AXA
Donated 6 million euros to non-governmental organizations in Ukraine.
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Bank of america
Pledged $1 million to relief efforts.
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BASF
Donated 1 million euros to the German Red Cross and will match employee donations made through BASF Stiftung or to UNHCR.
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BNP Baribas
Donated 10 million euros to UNHCR, the Red Cross, and Doctors Without Borders, and organized additional donations with collaborators and clients.
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Bayer AG
Established 3 million euro disaster relief fund.
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bp
Contributed $20 million to support humanitarian efforts.
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Capgemini
Committed to donate via UNICEF and Red Cross and to provide employees a dedicated platform to donate.
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The Clorox Company
Providing aid through the International Committee of the Red Cross (ICRC) and will match employee donations.
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Credit Agricole
Pledged 10 million euro donation through a solidarity fund.
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Dupont
Donated $200,000 to ICRC, and is matching 10% of donations from its employees up to $25,000.
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Estée Lauder Companies
ELC’s Charitable Foundation committed $1 million in relief support and ELC Good Works will double match eligible employee donations.
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Henkel
Committed to a financial aid package of 1 million euros.
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Johnson & Johnson
Pledged to donate $10 million to relief organizations and will match employee donations unlimited in amount.
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JP Morgan
Committed to 1 million euro company donation and will match employee donations dollar-for-dollar.
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Levi Strauss & Co
Pledged to donate more than $300,000 and double match employee donations up to $200,000.
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L’ORÉAL GROUP
Donate 1 million euros.
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LVMH Group
Donated 5 million euros to ICRC.
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MARS
Donated $2 million initial cash donation and committed $1.5 million in additional support through Working with Save the Children. $500,000 is pledged to Humane Society International.
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PayPal
Through PayPal Giving Fund, sponsored a website for zero-fee donations to aid organizations.
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Salesforce
Donated $2 million.
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Sodexo
Is creating a global employee donation platform, and will match employee donations.
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Thomas Schumann Capital
Launched the ‘30 for the Thirsty in Ukraine’ fund, which aims to provide 30 water purification facilities positioned near border crossings in EU countries surrounding Ukraine.
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Ylva
Donated 10,000 euros to UNICEF.
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AirBNB
Funding short term housing for up to 100,000 people fleeing Ukraine.
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BAYER
Donated antibiotics and sterile medical items.
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BNP Paribas
Organized transportation from the Ukrainian border and housing, food, medical, banking, and financial assistance in Poland.
Launched 24/7 helpline and plans for long-term employment, education, and integration assistance for refugees.
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Estée Lauder Companies
Pledged donation of ELC products.
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Etsy
Canceled balances owed by all sellers on their platform in Ukraine.
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Fedex
Pledged $1 million of support through in-kind shipping.
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Gap Inc.
Donated $1 million worth of women’s and children’s clothing.
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Offered office space in Warsaw to NGOs.
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Waived international calling fees from Ukraine and from the U.S. to Ukraine on Google Fi
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Johnson & Johnson
Pledged donation of hygiene kits, health packets and medical supplies.
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L’Oréal Group
Distributed 250,000 essential care and hygiene products.
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Roche
Pledged donation of 150,000 packages of antibiotics.
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Unilever
Pledged donation of 5 million euros worth of food, personal care, and hygiene products.
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AXA
Stopped all activity in Russia.
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bp
Divested nearly 20% stake in Rosneft.
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Will suspend operations in Russia.
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Boston consulting Group
Will suspend all client work in Russia.
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BNP Paribas
Suspended operations in Russia and removed penalties for late payments and international fees for Ukrainian credit/debit cards while deferring payment dates.
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CalPERS
Will end new investments in Russia.
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Capgemini
Will suspend operation sin Russia.
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The Clorox Company
Will suspend business operation s in Russia.
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Danone
Will maintain production and distribution of dairy products in Russia, but suspended all investment projects in Russia.
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Deloitte
Will end operations in Russia and Belarus.
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DuPont
Will suspend business operations in Russia and Belarus.
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Eni
Will sell 50% stake in Blue Stream Pipeline Company BV.
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Estée Lauder Companies
Will suspend all commercial activity in Russia.
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EY
Will end operations in Russia.
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IBM
Suspended all business operations in Russia.
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Kering
Will temporarily close stores in Russia.
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Legal & General
Will seek to sell its positions in sanctioned Russian companies and provide legal support to their customers who wish to welcome people fleeing Ukraine into their homes as guests.
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Levi Strauss & Co
Will suspend commercial operations in Russia, including any new investments.
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Mastercard
Complied with regulatory commitments, and will suspend network services in Russia.
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Merck
Will make no further investments in Russia, but continue to supply medicines and vaccines.
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Michelin
Suspended operations in Russia.
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Microsoft
Will suspend new sales of Microsoft products in Russia.
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Nestlé
Will provide only essential food products in Russia, and suspended all capital investment.
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PayPal
Shut down services in Russia.
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Ricoh
Will suspend shipments of all devices to Russia.
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Siemens
Will suspend operations in Russia.
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Siemens Energy AG
Will stop all new business in Russia.
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UniCredit
Will consider exiting Russia.
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Unilever
Stopped all operations in Russia.
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U.S. State Treasurers
Dozens of U.S. State Treasurers, including Council steering committee member Fiona Ma, signed a public joint statement condemning Russia’s attack and pledging divestment in response.
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Visa
Complied with regulatory commitments, and will suspend network services in Russia.
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Cogent communications
Shut down internet services to Russian clients. .
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Stopped selling online advertising in Russia.
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Meta
Restricted access to posts on Facebook and Instagram linked to Russian state-controlled media.
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Procter & Gamble Co
Will stop spending on capital investments, advertising, and promotions. Read more →Roku
Will remove Russian state-controlled media from its platform. Read more →Snap
Stopped advertising in Russia, Belarus and Ukraine. Read more →Spotify
Removed or restricted the discoverability of shows owned and operated by Russian state-affiliated media. Read more →YouTube
Blocked channels and suspends ads connected to Russian state-controlled media.Read more →
Additional lists of business actions Are available from:
Share your actions
Leadership from all sectors is essential in this crisis, and businesses are responding with urgency and purpose. Share what you are doing so that all may learn from your work to support those impacted by the tragedy in Ukraine and uphold international law.
Join Fellow Leaders
Leaders of every business, of all sizes and across sectors and geographies, contribute to this movement. What is your best idea or action for inclusive capitalism? Join us, and share it with our community.
