News Archives » Faith Responsible Investing
ICCR Shareholders Confront Banks Over Recent Scandals December 20th, 2013
The efforts of the Missionary Oblates and other ICCR faith-based shareholders to call the major banks to account in the wake of a flood of legal scandals and regulatory investigations, has won the attention of the media.
An article in the Wall Street Journal’s Market Watch, highlights the shareholder proposals filed by religious shareholder groups with J.P. Morgan Chase & Co. JPM , Bank of America Corp. BAC and Wells Fargo & Co. WFC asking for a report on “business standards”. The proposal says, “We believe shareholders deserve a full report on what the bank has done to end these unethical activities, to rebuild credibility and provide new strong, effective checks and balances within the bank,” the shareholders write in the Wells Fargo proposal, with similar language for the other two banks. “While press releases describe specific settlements or new reforms, the overall picture has not been reported adequately to shareholders.”
Father Seamus Finn, a board member of ICCR, and a shareholder lead with several of the banks, called the requests “a win-win” for the banks and shareholders, giving them an opportunity to showcase how they’re addressing “the many issues of the day.”
Learn more. Read the WSJ article…
Climate Change Impacts on Water December 18th, 2013
Along the Rio Grande River in Texas; photo courtesy of Patti Radle
An increase in global temperatures by 2 degrees Celsius would likely result in chronic water scarcity—less than 1,000 cubic meters per person per year—for 21 percent of the global population, according to new climate models developed by the Potsdam Institute for Climate Impact Research, Climate Progress reported. An increase of just 1 degree Celsius would create chronic water scarcity for 13 percent of the population and absolute water scarcity—less than 500 cubic meters per person per year—for 6 percent of the population.
A newly released study of the Lower Rio Grande River Basin predicts that climate change will reduce water supplies by more than 86,000 acre-feet each year by 2060, leaving a total annual supply shortfall in the basin of 678,522 acre-feet, Science Daily reported. The shortfall is expected to create problems for irrigators in the basin, and the study suggested looking at desalinated brackish groundwater as an alternative to surface water supplies.
Stop Trafficking! – December Issue December 16th, 2013
Read the latest issue of Stop Trafficking!, the Anti-Human Trafficking Newsletter to promote Awareness, Advocacy and Action. This issue includes the latest report from Polaris Project, information on webcam child sex tourism, serious concerns about the UN report on human trafficking, and raises awareness around boys being trafficked for sexual exploitation.
Older issues and handouts on specific subjects are also available here…
Stop Trafficking! is made possible through the supportive sponsorship of national and international congregations of women religious and their partners.
On human rights day, investors affirm responsibility of business to safeguard human rights in global supply chains December 11th, 2013
Members of the Interfaith Center on Corporate Responsibility announce a month-long initiative during January, Human Trafficking Awareness month, to counter trafficking and slavery in high-risk sectors.
In commemoration of Human Rights Day 2013, members of the Interfaith Center on Corporate Responsibility, a coalition of faith-based and socially responsible investors of which the Missionary Oblates are active members, announced a month-long campaign in January to urge fifteen companies in the food, agricultural and hospitality sectors to implement policies that will prevent human rights abuses in their global supply chains. The food/ag companies identified in the initiative are ADM, ConAgra, Costco, Darden Restaurants, Kroger, Mondelez Int’l, Target, Walmart. The hospitality companies are Choice, Delta, Hyatt, Starwood, US Airways, Wyndham, and Southwest.
The investors recently published a Statement of Principles and Recommended Practices for Confronting Human Trafficking and Modern Day Slavery which forms the basis of all their dialogues with companies on human rights issues.
Using International Human Rights Day as a platform to highlight potential abuses in global supply chains, the initiative will focus on a subset of companies in the food/ag and hospitality sectors and encourage the implementation of specific human rights policies.
Click here to read more »
Dialogue on Life and Mining from Latin America December 10th, 2013
Religious and Lay representatives from Latin America, “moved by the critical situation of our peoples vis-à-vis the extractive industry”, met in Lima in November 2013. Concerned that mining is a source of “constant and serious conflict” in many countries of Latin and Central American countries, the attendees wanted to develop a vigorous and supportive set of local and international networks to help address the destructive impacts of mining. The Missionary Oblates were represented by Fr. Gilberto Pauwels OMI from Bolivia, and Fr. Seamus Finn OMI from the United States and through their participation in VIVAT, a coalition of religious congregations with ECOSOC status at the United Nations.
There are a number of outcomes from the gathering that included reaching out to a larger number of communities affected by mining, engaging with the Pontifical Council for Justice and Peace at the Vatican and convening a broader consultation on the challenges of extractives in the second half of 2014.
Extractives, mining oil and gas exploration, play an important role across the world while also imposing great intrusion and damage in local communities and on the environment where they operate. The search for a way forward that addresses the most serious of those negative impacts has been taken up by a number of different initiatives in the academic, business, stakeholder and shareholder and NGO sectors. Hopefully gatherings like the meeting in Lima can make a constructive contribution to that process.
Read the statement: Dialogue on Life and Mining: Open letter from religious and lay stewards of the goods of creation in Latin America
