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Article

20 Jan 2011

Author:
Christine Bader, who worked for BP from 1999-2008, in Reuters - Davos Notebook

What Davos can learn from BP

How could a company that tried so hard to get it right in faraway lands get it so wrong in its own backyard? Maybe BP got complacent in the U.S., given the lack of scrutiny from regulators or anyone else? While the projects I worked on were in new markets that were lucrative but gnarly, eliciting concern from investors, campaigners, and the company itself, perhaps they were much more marginalized than I realized. We need to demand that companies calculate risks not just for their bottom line, but for society at large — recognizing that in the long run the two are often the same. We need scrutiny of those calculations from all parts of society...