Worst company of the year: Can Coal India win the 'honour'?
New Delhi: This is one race no company would like to be a part of, let alone winning it. Unfortunately, India's Coal India Limited (CIL) has made the cut in the infamous 'Worst Company of the Year' list.
Organized since 2000 by Berne Declaration and Friends of the Earth (in 2009 replaced by Greenpeace), the Public Eye Awards marks a counterpoint to the annual meeting of the World Economic Forum (WEF) in Davos.
"The state-owned coal Moloch: with 400 million tons per year, Coal India is the world’s largest coal producer, operates 90% percent of all coal mines in India and wants to continue building coal-fired power plants that would make India the world’s third largest CO2-emittor," the nomination says.
"The coal mines destroy the habitats of many large mammals and rob tribal peoples of their livelihood and homelands, forcing them into a life of bitter poverty. The dismal record with 205 workers dead and 699 seriously wounded in 2010 alone, suggests that working conditions at Coal India are indeed disastrous.
"Corruption and nepotism are business as usual at this company which, being state owned, would be expected to behave more responsibly than a privately owned corporation. Considering the company’s business practices, the slogans on its logo—„nurturing nature“ and „enabling life“—sound pretty hollow," it addds.
The company had got 763 votes at last count.
Other companies in the ignomious list are Alstom, G4S, Goldman Sachs, Lonmin, Repower and Shell.
Worst company of the year: Coal India, Goldman make the cut