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Green is the new crypto for corporate rebranding

Companies that gave themselves new names linked to sustainability between 2000 and 2022 enjoyed one-day returns of 15%, on average, according to a study

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    • Practically every company will have to go green eventually, regardless of its name.
    • Practically every company will have to go green eventually, regardless of its name. PHOTO: AFP

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    Mark Gongloff

    Published Fri, Apr 12, 2024 · 05:00 AM

    A FUN thing about the dotcom and crypto booms was how companies with no previous connection to dotcom or crypto added those terms to their names and watched their stock prices soar.

    Perhaps the greatest example is Long Island Ice Tea Corp rebranding as Long Blockchain Corp in 2017, with a promise to shift from making Arnold Palmers to making crypto. This resulted in a 300 per cent rally, years of investigations and no crypto.

    In what may be a hopeful sign for the climate, if not for investors, it turns out green rebranding can also move stock prices.

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    sustainabilityBrandinggreenwashingCryptocurrencies

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