Tech stocks that rely on gig workers must address the social aspect of ESG
TECH platforms like Grab and GoTo are investing in electric vehicles and announcing initiatives to support their employees and partners, as they seek to build their environment, social and governance (ESG) credentials. But their reliance on a gig workforce is still the elephant in the room.
ESG-minded investors should pay more attention to the growing debate over regulation in this region, and what the platforms are actually doing versus what they say they stand for. This is especially since there isn't a clear framework to evaluate these companies' labour policies.
Lack of best practices
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Startups
OpenAI co-founder Ilya Sutskever departs ChatGPT maker
Sea posts US$23 million Q1 loss, but investors cheer Shopee’s record revenue
Uber to buy Delivery Hero’s Taiwan business for US$950 million
SoftBank sells off Vision Fund assets as Son pivots to AI, chips
Battery swapping faces uphill climb in Singapore’s EV market
Mirxes posts US$58 million operating loss, US$24 million revenue