An Editorial in the Times (27th July) criticises workplace ‘warriors of woke’ who are apparently engaged in ‘woke washing’. By this the paper means companies that have policies on climate and diversity and inclusion.
Of course it can be argued that these policies are windowdressing for annual reports. Actually however large companies,unlike the Times, know that they make economic sense and can add to the bottom line of profit. A focus on green policies can save money and the environment. Diversity and inclusion means companies look to hire the most talented workers not just white men in suits (though they will still get hired too).
The Times ideological point here is that legally companies have a duty above anything else to shareholders. They do. Going back to 1997 New Labour thought differently. It said it would seek a balance between shareholders, employees and consumers.
Unfortunately as with reform of the House of Lords there was resistance and not much progress was made. Progress is needed even more now and if the Times with a hard right culture war agenda wants to call it woke, so what.
There is nothing revolutionary about this btw. Widening the legal responsibilities of companies is a mild social democratic tweak to the market. Skinning the tiger claw by claw remains difficult though..
And the Slimes only referenced companies with chairmen.