In June 2018, Scott Morton, managing director of BioBag World Australia Pty Ltd (BioBag Australia), had a decision to make. The Chinese government had recently implemented harsher restrictions on the import of plastic waste, creating worldwide demand for recycling solutions and spurring the creation of eco-friendly start-ups. With this momentum behind him, Morton believed the timing was right to l
Zara, an iconic fast fashion brand owned by Industria de Diseño Textil (Inditex), had experienced strong sales and increased profits during the first half of 2023. But it was facing increasing hostility for the environmental impact of its operations. There had been accusations of greenwashing, which meant a company conveying a false impression about whether its products or operations were environm
This case focuses on the challenges of the public provision of high-quality water in Hungary, a high-income, former Eastern Bloc country that has been a member of the European Union since 2004. It struggles with chronic groundwater arsenic contamination.
At the Darden School of Business, this case is taught in the second-year elective, “Global Economics of Water,” in a public policy module that
In the 21st century, “investing in water” has garnered more and more attention, as water scarcity grows more widespread. To get a better understanding of how the environmental community thinks about the use of private capital to address water’s challenges, this case draws on conversations with Brian Richter, president of Sustainable Waters and lecturer at the University of Virginia. As part of his
In spring 2023, Talal Shamoon, CEO of Intertrust Technologies Corporation (Intertrust), was planning the next phase of growth. Intertrust focused on enabling trust over open networks. In the 1990s and the early 2000s, it had created much of the data rights management and media security technology that kept the internet working by enabling the exchange and transaction of digital media such as audi
Steven Erickson, cofounder of the hedge fund Anbec Partners, is trying to determine whether the all-cash offer D.R. Horton has just made for Vidler Water Resources, Inc. (Vidler) is a fair value for Vidler. Vidler’s most valuable project is the Fish Springs Ranch pipeline, which was developed to supply water to fast-growing Reno, Nevada. Reno is in Washoe County, which shares water from the Honey
The case, “Suez and Veolia in Hot Water,” takes the merger between Suez and Veolia, the two largest global water and waste multinationals, as a starting point and puts it in the context of the ongoing discussion in France (and elsewhere) about remunicipalizing utilities, especially water and wastewater. The broader background of the case narrative constitutes, on the one hand, the water infrastru
This case revolves around the proxy battle launched by a little-known activist hedge fund, Engine No. 1, against oil and gas behemoth ExxonMobil in late 2020. The case describes the history and corporate governance of ExxonMobil, as well as its current strategic orientation and challenges. The case provides an opportunity to discuss ExxonMobil’s competitive positioning and performance and to evalu
This case examines the accounting implications of a customer incentive deal between Plug Power (Plug; an industry-leading manufacturer of hydrogen fuel cells) and Amazon.com, Inc. (Amazon; Plug’s major customer). Alexis Reed is an analyst struggling to understand the implications of the negative annual revenue reported by Plug for fiscal year 2020. This extremely rare occurrence was caused by the
In July 2022, Ashley Sudjianto, a partner at Adelaida Technology Capital (ATC), had to make a recommendation to ATC's investment committee on how much money ATC should lend to CarboCaptor Inc., an emerging chemical-manufacturing start-up that had a patented, cost-effective solvent that captured carbon dioxide (CO2) from the air. In late 2021, CarboCaptor had been well on the way to launching a new
Philips, the Dutch multinational conglomerate, is assessing whether to enter the business-to-consumer (B2C) LED lightbulb market in the United States. Philips has already been serving the business-to-business (B2B) market with moderate success, but it has completely ignored the B2C market. Now, a change in energy taxes and possibly additional regulatory changes have the company reevaluating that d
This case is set in 2022, a year after Mary Barra, chair and CEO of General Motors (GM), set a goal to phase out production of gas-powered (internal combustion engine [ICE]) vehicles and only sell electric vehicles (EVs) by 2035. At the time of the announcement, no other large automaker had set a target date for exclusively producing EVs. GM said it would invest $35 billion over the next five year