This week we have all been rocked by the tragic situation unfolding in Israel and Gaza. While the war in Ukraine continues and is still on our minds, it seems many have forgotten some of the communication lessons from the start of that conflict.
I’ve been very disappointed in the number of ‘hot takes’ that have landed in my inbox this week surrounding the conflict. It is clear that conflict has an impact on financial markets, at least in the short term.
Many are keen to shout about how the conflict could lead to increased oil prices or whether the price of gold will increase as it often does in times of crisis.
At a time when innocent people are losing their lives, being taken hostage and losing their homes, our first thoughts should not be about investment strategies or whether the changing price of oil will impact client portfolios.
It would be naïve to think these conversations don’t happen on trading floors and in investment meetings. However, the primary thought should always be with those directly affected by the conflict.
Firms should also remember that those affected are not necessarily far away either. I have seen press releases discussing whether the conflict will “remain local”. The truth is, the impact is already far from local.
There will be people working in the firms issuing these statements that have lost, or are worried about, family and friends. Others will be worried about the rise in hate crimes in this country that are being widely predicted and already being seen.
Taking time to support these individuals surely is more of a priority than trying to make headlines or go viral on LinkedIn or X (formerly Twitter) with investment commentary.
People should always be placed over portfolios. I said the same when Russia invaded Ukraine and it stands as true now as it did then.
Moreover, many of the firms sending these press releases are also very keen to promote their ESG strategies. The ‘S’ in ESG is often be forgotten, but firms cannot claim to be ESG compliant without acknowledging the social component.
These firms may well invest in socially-focused companies, but if their actions and communications do not add up, is this not just another form of greenwashing?
We can, and should, do better.
