Bangladesh Investor Initiative
The Interfaith Center on Corporate Responsibility (ICCR) and Boston Common Asset Management invite IEN members to become signatories to an Investor Statement on the Bangladesh Accord for Fire and Building Safety . The 4th anniversary of the Rana Plaza building collapse provides investors the opportunity to positively support actions on the ground:
- to remediate safety hazards that remain and
- to support the continuation of worker safety trainings to build a proactive sustainable presence in factories for the future.
The Accord for Fire and Building Safety has made important strides to address the risk to garment factory workers in the 1,600 factories covered under the program. To complete the work however, requires the extension of the original 5-year agreement. In addition, the Alliance for Bangladesh Worker Safety needs to complete remediation of all outstanding issues identified in its inspections and publicly report on progress so that investors and other stakeholders are informed.
Since May of 2013 ICCR’s Bangladesh Investor Initiative has shone a light on the safety crisis in the garment sector and has been one of the few initiatives to follow developments to identify and eradicate threats to worker safety over the four year period. Boston Common has supported this work through our meetings with trade unions, women’s organizations and NGOs in Bangladesh which we reported on in 2014 in our Quarterly Newsletter.
Action: We invite you all to join other investors including Boston Common in signing the statement. Please provide your information by filling out the online form here. The deadline is close of business, Friday, April 21st,2017.
ICCR will release the statement with signatories on the 4th anniversary, Monday, April 24th, 2017. We encourage you to post the statement to your website, circulate it to your networks and to send it to companies you have engaged on safety issues in Bangladesh, whether they are members of the Accord or the Alliance. We will also send the statement to the Accord Steering Committee and the Alliance Board of Directors.
The Investor Stewardship Group (ISG) was formed to bring all types of investors together to establish a Framework of basic standards of investment stewardship and corporate governance for U.S. institutional investor and boardroom conduct. The result is the Framework for U.S. Stewardship and Governance comprising of a set of stewardship principles for institutional investors and corporate governance principles for U.S. listed companies.
The corporate governance Framework articulates six principles that the ISG believes are fundamental to good corporate governance at U.S. listed companies. They reflect the common corporate governance beliefs that are embedded in each member’s proxy voting and engagement guidelines, and are designed to establish a foundational set of investor expectations about corporate governance practices in U.S. publicly-listed companies.
The Framework goes into effect January 1, 2018 to give U.S. companies time to adjust to these standards in advance of the 2018 proxy season.
Sonen Capital and Pax World Management hope that you will join us in supporting a very important proposal currently being considered by the Equal Employment Opportunity Commission, (EEOC). The EEOC, in partnership with the Department of Labor, is proposing that all companies with over 100 employees annually collect summary pay data by gender, race, and ethnicity.
In the United States, the pay gap has not changed substantially over the last 15 years and is 2.5% greater than the OECD average. The typical woman receives 21% less pay than the typical man. The typical Hispanic woman earns 45% less, and the typical black woman earns 40% less, than the typical white man. Even when education, occupation, industry, and job title are held constant, studies have shown that the pay gap remains. Asking for the collection and sharing of pay gap data is a huge step in the right direction.
We hope that you will join us by submitting comments directly to the EEOC in support of the proposal. They will be accepted until April 1st. Instructions can be found here.
Please let us know if you would also be able to commit to contacting additional companies. If there is sufficient capacity to do so, it would be wonderful to expand the campaign beyond the S&P100.
Please let Meredith Benton of Sonen Capital, at firstname.lastname@example.org, or Heather Smith of Pax World Management LLC, at email@example.com, know if you would also be able to commit to contacting additional companies. If there is sufficient capacity to do so, it would be wonderful to expand the campaign beyond the S&P100. We hope you will be able to join us in this important initiative.
A group of companies and investors that share a concern that financial markets are not taking sufficient account of climate-related corporate performance, risks and opportunities relevant to future shareholder value because of the lack of information in "mainstream" corporate reports for the investment community. For this reason, the Climate Disclosure Standards Board have decided to produce and make use of such information on a common basis through the Climate Change Reporting Framework. They take this step primarily out of a sense of fiduciary responsibility.
Endowments can sign the Global Investor Statement on Climate Change to express support for strong domestic and international climate and clean energy policies. The statement was originally launched at the UN Climate Summit in Sept. 2014, and will be re-launched with additional signatories ahead of the Paris climate negotiations in Dec. 2015. Read more...
- Endowment signatories: University of California, Hampshire College, Green Mountain College, Goddard College, Unity College, University of Dayton
Investors representing $1.5 trillion commend the White House’s proposal to reduce methane emissions from the oil and gas industry by at least 45 percent below 2012 levels by 2025.1 The announcement demonstrates a commitment to confront climate change, promote economic growth, transition to a renewable energy economy, and provide more regulatory clarity for the industry. Read more...
- Endowment signatories: Amherst College
Ceres’ Investor Network on Climate Risk (INCR) and the UN-supported Principles for Responsible Investment (PRI), in partnership with the UN Environment Programme Finance Initiative, are facilitating a global investor communication to the IOSCO Secretariat and its Executive Board, in order to draw attention to investors’ growing needs for timely, comparable and material disclosure of corporate sustainability information to inform their investment decisions. The deadline for signing is September 16, 2014. Read more...
The World Bank encourages organizations to state their support for a price on carbon. The Global Investors Coalition on Climate Change provides the reasoning for Why Investors Support a Price on Carbon. Colleges and universities interested in adding their support can read the statement and fill in this form to join those endorsing it.