The Daily Bell has revived that great old institution of the personal interview, extracting information from today's great thinkers you can't get anywhere else. Outstanding!

    Jeffrey Tucker
    Author, Executive Editor of Laissez Faire Books


    Every day, I rely on the Daily Bell for a different perspective you'll never find in the regular media. It's an analysis and timely insight that is profound and provocative.

    Craig Huey
    Author, Small Business Owner


    Get outside the box with The Daily Bell and experience independent views.

    Paul Craig Roberts
    Author, Former Assistant Secretary of the Treasury in the Reagan Administration


    The Daily Bell affords an excellent alternative perspective on some of the noise and nonsense of mainstream media. In particular, I enjoy reading Anthony Wile's 'free-market analysis' on current subjects and articles. Very insightful.

    Frank R. Suess
    Chairman & CEO of BFI Capital Group Inc.


    The Daily Bell website is one of the authentic voices cutting through the clouds of vapid opinion, the morass of mediocre media and the confusion of Orwellian doublespeak. The Bell website lives up to its name, ringing unheard messages of truth in our ears.

    Jeffrey Armstrong
    Award-winning Author, Vedic Philosopher


    The Daily Bell leads us out of the dark tunnel of manipulated press into the light of free press.

    John Perkins
    Bestselling Author


    I really enjoy reading The Daily Bell for the excellent research and content provided on a wide variety of issues vital to the Freedom Movement.

    Dr. Mark Skousen
    Author & Founder of FreedomFest


    The future is created by the people who build it, not the people who predict it will not exist. You can meet lots of important builders by reading The Daily Bell.

    Catherine Austin Fitts
    Former Assistant Secretary of Housing and Federal Housing Commissioner


    I consider The Daily Bell essential reading for anyone desirous of understanding the way the world really works.

    Lord William Rees-Mogg
    Author, Former Deputy Editor, Financial Times


    The Daily Bell features consistently solid analysis of and thoughtful challenges to contemporary statism. I am proud to be on the team.

    Dr. Tibor Machan
    Author and Philosopher


    The Daily Bell is a fantastic source of challenging thought from a wide range of freedom loving people.

    Dr. Joel Wade
    Author, Psychotherapist and Life Coach


    I love reading The Daily Bell! Interesting investment information, a political and social viewpoint that lets me know I'm not alone in the world and "annotated" with analysis. I highly recommend it to all interested readers.

    Rick Rule
    Founder of Global Resource Investments Inc.


    Because the world is changing so rapidly, it is difficult to keep up, which means The Daily Bell is a must read. I consider the information critically important reading.

    Dave Morgan
    Author, Editor of Silver-Investor.com


    I read it every day!

    Jim Rogers
    Bestselling Author, Co-founder of the Quantum Fund


    I love the Daily Bell. Every issue is principled and informative.

    Lew Rockwell
    Founder of the Mises Institute


    The Daily Bell is one of the most innovative and in-depth websites on the Internet. The breadth of the content is awe inspiring and the amount of knowledge imparted is almost impossible to quantify. For me, as a liberty minded seeker of knowledge, it is a must read.

    Jeff Berwick
    Founder of DollarVigilante.com


    There is no other publication in print or on the Internet like The Daily Bell. They have the courage to report the truth and analyze current foreign policy, politics and economic events in the context of a formerly hidden history of financial elites.

    Ron Holland
    Author & Monetary Analyst


    The Daily Bell should be on everyone's shortlist of news sources you can trust. It's on mine, and we often refer to it in our own weekly news service at The Reality Zone.

    G. Edward Griffin
    Author, Founder of Freedom Force International


    A defender of free markets, The Daily Bell takes a libertarian approach to expose and unravel global misinformation. Read The Daily Bell – every day!

    Charles Payne
    FOX Business Analyst


    I always read the Bell. The news items are thoughtfully selected, and the interviews are unavailable elsewhere.

    Doug Casey
    Bestselling Author and Founder of Casey Research Group


    I enjoy reading The Daily Bell because it often has refreshing and novel ways of looking at things.

    Bill Bonner
    Bestselling Author, Founder of Agora Publishing


    Rarely does a publication have the guts and objectivity to tell it like it is, yet the eloquence and wisdom to listen carefully to the ‘other side.’ This is The Daily Bell accomplishing its daily mission.

    James Jaeger
    Telly Award-winning Filmmaker


    I read The Daily Bell every day and I find it very informative.

    Marc Faber
    Dr. Marc Faber, Author, Publisher of The Gloom Boom & Doom Report


    The Daily Bell is an indispensable source of news and information for those seeking to curtail the power of the welfare-warfare state.

    Dr. Grant Havers
    Chair, Department of Philosophy, Trinity Western University


    The Daily Bell does a remarkable job of exposing how money power uses central banking to crush people into submission via global government with economic and political slavery being the desired end result.

    John Browne
    Former Secretary of the Conservative Defense and Finance Committees, UK Parliament


    The Daily Bell provides unique insights on contemporary political, economic and social problems that can be found in such a concentrated form nowhere else. Whether one agrees or disagrees with it, one cannot afford to ignore it.

    Dr. Edwin Vieira
    Author and Constitutional Expert


    There are very few publications out there that have the smarts and guts to tell the truth about the dictatorial forces at work destroying our civilization. Thankfully The Daily Bell is one of them, and it appears in the mailbox every day.

    Nelson Hultberg
    Author, Director of Americans for a Free Republic


    The Daily Bell is an informative source of information and commentary from leading figures in the liberty movement. It's a pleasure to be interviewed alongside far more notable individuals.

    Alexander McCobin
    Executive Director of Students for Liberty


    The Daily Bell is a true beacon to lead in helping the reader to separate the wheat from the chaff.

    Dr. Antal Fekete
    Author, Educator and Monetary Scientist


    For alternative views on contemporary politics, culture and science, from a libertarian point of view, check out The Daily Bell.

    Michael A. Cremo
    Author, Vedic Archeologist


    The Daily Bell has a great libertarian point of view, and excellent economic analysis. Add it to your daily reading.

    Peter Schiff
    Chairman and Chief Executive Officer, Euro Pacific Capital


    The Daily Bell has come out of nowhere to introduce to the Internet community some of the most intriguing and proactive interviews there are out there. Let's hear it for creativity and being ahead of the curve.

    Bill Murphy
    Chairman of Gold Anti-Trust Action Committee


    The Daily Bell is a must-read for anyone who wants to understand the effects of the state on our economic future.

    Dr. Thomas DiLorenzo
    Professor of Economics, Loyola University Maryland


    I have thoroughly enjoyed the analysis and interviews at The Daily Bell, which has so often been a voice of reason during these perilous times

    Dr. Thomas Woods Jr.
    NY Times Bestselling Author & Senior Fellow, Mises Institute


    The Daily Bell rings out for liberty every day. It is the premier online source for insightful and hard-hitting free-market analysis and interpretation of economic, political and business events.

    Dr. Richard Ebeling
    Author, Professor of Economics at Northwood University


    Sit down to read from The Daily Bell and experience a jolt of intellectual energy.

    Dr. Nathaniel Branden
    Psychotherapist, Bestselling Author


    The good and the bad, the big dogs and the small, the thinkers and the doers among libertarians and on the "Right" – you can encounter them all in The Daily Bell's exclusive weekly interviews. Indispensable.

    Dr. Hans Herman-Hoppe
    Author, Economist and Libertarian Philosopher


    I can say that, unlike the mainstream press, The Daily Bell knows the questions to ask and has the chutzpah to ask them. They realize that socialism and Keynesianism are wrecking the world and they are helping to save what is left of liberty and free markets.

    Richard J. Maybury
    Author, Editor of U.S. & World Early Warning Report


    At a time when growing majorities worldwide are tuning out mainstream news, people are seeking the cutting edge, insightful and thought provoking analysis that The Daily Bell consistently provides.

    Gerald Celente
    Bestselling Author, Founder of the Trends Research Institute


    Liberty is under assault by Big Government. The Daily Bell is an essential tool for information for those who want to fight for freedom.

    Steve Forbes
    Chairman and Chief Executive Officer of Forbes Media


Subscribe now to start your FREE email subscription to:

The Daily Bell Newswire

By subscribing, I confirm that I have read the privacy policy and the terms of use policy in its entirety and I understand and accept these terms.


Anthony Wile

Are Multinationals Good Citizens?

Editorial By Anthony Wile

Business Insider has published an interesting article, "Why The World's Most Sustainable Company Publishes CO2 Emissions Next To Its Earnings." It's part of a sponsored "Future of Business" series, which examines how "cutting-edge technologies are rapidly reshaping our world, from how businesses run to how we live."

I don't know about you, but when I see the word "sustainable," I get a bit suspicious. It's one of those jargon words that is applied these days to certain businesses regardless of suitability.

What is a "sustainable" business anyway? Here it is being used somehow to indicate a "program" of sustainability. Presumably that means the company is doing its part to "sustain" the world.

Of course, my feeling is that companies ought to stick to their mission statements regarding the value that they are trying to produce for shareholders. The Earth has been around five billion years – supposedly – and short of a large planet crashing into it, I think its "sustainability" is assured no matter what.

Whether or not a pharmaceutical company is intent on salvaging the planet, this blue orb will keep on spinning, probably long after said pharmaceutical firm has passed on, merged, whatever ...

In this case, the company that is so concerned about the Earth is Danish-based pharmaceutical giant Novo Nordisk. We learn from the article that Novo Nordisk "is particularly committed both to sustainability, and using data to measure it." From the company's website:

Novo Nordisk is a global healthcare company with 89 years of innovation and leadership in diabetes care. The company also has leading positions within haemophilia care, growth hormone therapy and hormone replacement therapy. Headquartered in Denmark, Novo Nordisk employs approximately 33,900 employees in 75 countries, and markets its products in 190 countries.

Novo Nordisk is so concerned about the sustainability of Planet Earth that they were named "the world's most sustainable company by Corporate Knights this year." Other awards have been bestowed as well.

The article quotes Susanne Stormer, "Novo Nordisk's vice president of corporate sustainability." She speaks about "global stakeholder engagement," and how the company employs data to analyze the business impact of sustainability.

We are informed that according to the latest annual report, the company's CO emissions from "energy 2" were down to 93 thousand tons from 95 the year before. Also, the company "was selling cheaper insulin in 75 developing countries up from 67 the year before."

These two facts are published right alongside the 21.9 percent growth in earnings per share. The implication is that being a good corporate citizen adds to the bottom line. Perhaps so.

Stormer doesn't make a direct connection, however, preferring to speak to more ambitious goals. "[Sustainability is] about showing respect for people, the patients that we're serving, and the people who work at the organization."

A "triple bottom line" is written into company bylaws stating that they would conduct their business in a way that is "financially, environmentally, and socially responsible."

And as a result the company has integrated various kinds of reporting since 2004, providing financial results alongside data on environmental and social targets. "The reason why we do that is because we think it's important that when you talk about sustainability, that you don't just [tell] the tree hugger stories and the compelling emotional part of why a company should be sustainable, but ... to hold ourselves accountable to our stakeholders and to drive internal accountability."

There is a practical side to all this, apparently. Novo Nordisk officials believe that their emphasis on social contributions and environmental concerns appeal to certain investors and potential customers.

The article explains that the company has created a series of case studies "showing the social and business impacts of specific measures."

But the way Stormer describes it, these indices measure "value that your work generates to the world ... also how it benefits society."

That's not a value then that drops directly to the bottom line. But Stormer believes the company is on the way to "making [a] business case in a strong and convincing way." We never learn what it is though. Too bad.

There ARE green benefits, however, that drop directly to the bottom line. According to Stormer, "By devising a partnership with our energy supplier we were able to convert from black energy based on coal to green energy based on wind power."

This, we learn "worked out for everybody," because the company is saving money in the long term and the wind power industry in Denmark itself got a boost. "It really was one of these win win/win examples."

Stormer concludes: "In order to be in business for the next 90 years or a 100 years we have to consider how do we interact with society and what does society look like? So the basis for our sustainability work is to say we believe that a healthy society, healthy environment, and healthy communities are the foundation for success as a business."

I've tried to be fair to Novo Nordisk but I certainly have questions about the company's emphasis on green programs and social activism. I noticed in reading the article that outside of some energy savings the firm really doesn't seem to have a firm handle on costs and benefits.

This is significant. Despite all their efforts, company officials seem to have no idea how much their efforts to be a good corporate citizen are costing and how much the company's bottom line is benefitting. If I were a shareholder in this company, I'd want to know such things.

In researching the company, I came across the following press release:

Peter Lawætz Andersen is awarded The Novo Nordisk Prize 2011 ... The Novo Nordisk Prize 2011 goes to Peter Lawætz Andersen, DMSc and Head of Research at the Department of Infectious Disease Immunology, Statens Serum Institut (SSI), for his ground breaking tuberculosis research. His work has improved diagnostics and has resulted in a new vaccine with the potential to eradicate the disease.

A little more searching on the Internet yields the following from New Scientist, Nov. 1979:

'The world's biggest trial (conducted in Southern India) to assess the value of the BCG tuberculosis vaccine has made the startling revelation that the vaccine 'does not give any protection against the bacillary forms of tuberculosis'.' ... The 'exhaustive and meticulous' study, involving 260,000 people, found more TB in the vaccinated group than in the non-vaccinated. After this, scientifically-valid vaccine trials were abandoned.

Holland had the lowest death-rate from TB in Europe due to the fact that it rejected the TB vaccine. The French government forced, by law, the vaccine onto all French children: Prof. Mercie, of the Pasteur Institute, who produced and sold the useless shots, explained 'It helps finance the Institute's research.' TB is now making a widespread comeback, particularly in intensively-vaccinated tropical countries.

Now, one can speculate that the NEW tuberculosis vaccine is better than the old one(s). But at the very least – as part of its "good citizen" effort – shouldn't Novo be informing people that there is considerable trouble with vaccines generally and that specifically, vaccine cocktails are being held responsible for the rise in autism in the West?

This brings up a larger point, which is that the company's good citizen efforts can be interpreted in ways that are negative rather than positive. Even without taking a position on whether or not the concept of global warming is legitimate, one can question whether the company's support for carbon reduction is a sensible idea.

Company officials seem to believe that removing carbon from the atmosphere will help stem global warming. But I'd argue that company shareholders ought to investigate this program and its impact on the company's bottom line. There's no definitive evidence I know of that the world is growing warmer or that reducing the amount of man-made carbon (a tiny percentage) will in any way affect climate trends.

Finally, Novo's main business is related to diabetes care, but it's recently been shown in at least one double-blind test that short, intense bursts of physical exercise can have an extremely beneficial effect on diabetes, especially type 2 diabetes.

If the company really wanted to be a good citizen, one would think that such news would be prominently featured by the company as a way to control diabetes without drugs, or with minimal drug intervention. I didn't see any mentions of this study or its conclusion.

I did check on the company in Wikipedia and found a timeline going to 2010 regarding the company. At the end of the timeline, the following information was mentioned:

  • 2009 Novo Nordisk agrees to pay a $9 million fine in connection with the payment of $1.4 million in kickbacks through the United Nations Oil-for-Food Program.

  • 2010 Novo Nordisk pulls medicine from Greece due to price cuts triggered by the financial crisis in the country. The act caused uproar among diabetics and relatives.

  • 2010 Novo Nordisk agreed to pay $25 million to the US government for illegally promoting its haemostasis management drug, NovoSeven.

  • 2011 The Association of the British Pharmaceutical Industry reprimands Novo Nordisk for poor management due to breaching industry codes concerning various promotional efforts for its Victoza diabetes medicine.

Obviously, Novo officials want the company to be a "good corporate citizen," but like any other multinational corporation, Novo's REAL agenda is probably considerably different than its stated one.

The very largest companies are surely involved with what we call the "power elite" and their agendas have not only to do with making money but also with extending and solidifying globalism.

A lot of Novo's contrived public persona seems aimed at reinforcing globalist memes having to do with green conversation, carbon sequestration and alternative energy. Each one of these "dominant social themes" is scientifically questionable and may not add much if anything to the bottom line.

If I were a Novo shareholder I'd be quite skeptical of the company's "good citizen" efforts and would regularly re-evaluate my investments – or even contemplate a reduction.

Novo's efforts seem more based on PR than reality. And unfortunately, when it comes to multinationals, Novo is not alone.

Rate this article:

Total Ratings: 0 - Average Rating: 0.0

Who We Are

The Daily Bell is published by a dedicated team of experienced researchers and writers who utilize Anthony Wile’s VESTS model to analyze sociopolitical, economic and financial information from a free-market perspective, debunking mainstream media memes and providing insights and analysis derived from business cycle analysis that yield timely insights into profitable investment trends.

Sign Up for our FREE Newsletter

Subscribe now to start your FREE email subscription to
The Daily Bell Newswire.