Glyphosate: Bayer sued for millions
Chemicals giant Bayer is suffering one legal defeat after another in the US over the weedkiller glyphosate produced by its subsidiary Monsanto. The company could end up paying a hefty price, not just as a result of damages running into the millions but also because Bayer share prices have plummeted. How should business managers and governments react?
Blinded by greed
The Frankfurter Rundschau has little sympathy for Bayer:
“CEO Werner Baumann stressed during the takeover that the company would maintain the highest ethical, environmental and social standards. And that is exactly what it didn't do. In view of the growing world population, the trade in genetically modified seeds and agrochemicals holds the promise of gigantic profits. The fixation on profit has made Bayer's top management blind. Managers of other companies should take a close look at the glyphosate case. Those who ignore the ethical, environmental and social aspects of their business are bound to fail in the long term.”
EU isn't protecting its citizens
In continuing to allow the use of glyphosate the EU is being reckless in the extreme, L'Echo criticises:
“When the battle for public health fails, politicians - in our case the European Commission - bear part of the responsibility. Because they are too cowardly to carry out their duty - namely to ban a product that scientists consider lethal in the name of the principle of caution - to the end. To avoid taking a decision Europe is citing reports whole passages of which are copied word for word from statements by Monsanto experts. ... The US judiciary, for its part, has understood that this bad joke had to end. As have the markets.”