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OMI JPIC Among Investors Urging Businesses to Protect Workers Amid the Coronavirus Crisis March 31st, 2020
As the social and economic ramifications of the coronavirus pandemic are quickly becoming clear, including a looming recession, growing unemployment and significant operational and supply chain interruptions, the well-being of millions of workers hangs in the balance.
While it is clear that social isolation is crucial to protect workers and to control the spread of the virus, widespread layoffs by companies will only exacerbate the current economic turmoil and further destabilize markets, say the investors.
As a result, investors are taking action.
On March 26th, a group of nearly 200 investors led by Domini Impact Investments, ICCR and the New York City Comptroller’s Office issued a 5-point plan for businesses to protect workers amid the crisis. Key points include:
- provide paid leave,
- prioritize health and safety,
- maintain employment,
- keep supplier/customer relationships, and
- fiscal prudence.