News Archives » Faith Responsible Investing
A Big Victory for Congo and Extractive Industries Transparency in the US Financial Reform Bill July 16th, 2010
On July 15, the United States Senate voted 60-39 to approve the Dodd-Frank Wall Street Reform and Consumer Protection Act. President Obama is expected to sign the measure into law next week. While the text of the financial reform act fills more than 2,300 pages, the many rules and regulations needed to implement it have not yet been written. This work by U.S. regulators is expected to take months, possibly years.
The legislation included an important provision requiring energy and mining companies to disclose how much they pay to foreign countries and the U.S. government for oil, gas, and minerals. The provision, based on the Energy Security through Transparency Act (S. 1700), will require companies registered with the U.S. Securities and Exchange Commission (SEC) to disclose payments to foreign governments for the commercial development of oil, natural gas, and minerals. This disclosure will apply to all companies filing with the SEC, regardless of where they are based, meaning that most of the world’s top extractive industries would be covered by this law.
Click here to read more »
Companies Respond to Consumer Demands on Environment July 1st, 2010
Activist campaigns targeting corporations have been surprisingly successful in changing corporate behavior and “greening” supply chains, particularly with regard to timber and beef products. For continued success though, consumers need to signal a clear preference for sustainably produced goods.
A Yale Environment 360 article details one campaign’s success:
Click here to read more »
Democratic Republic of Congo: Celebrating 50 Years of Independence! June 29th, 2010
On 30th June 2010, the Democratic Republic of Congo (DRC) will celebrate the 50th anniversary of its independence from Belgium. The DRC has been described as the ‘heart of Africa’ and is home to enormous natural wealth and resources. However, for the last two decades, Congo has been caught up in armed conflict 
described as one the world’s deadliest. The fighting in the eastern DRC is fueled in large part by conflict minerals which include coltan (columbite-tantalite), cassiterite (tin ore) and wolframite (tungsten). These metals are used in consumer electronics such as cell phones and laptop computers. The Congo conflict has left millions of people dead. Thousands of women have been victimized by rape and countless children have been kidnapped to serve as child soldiers.
Marking the 50th Independence anniversary during the annual meeting of the Catholic Bishops, Bishop Nicolas Djomo, President of the Catholic Bishops’ Conference of Congo, said that the independence anniversary is an opportune time to offer prayers of thanks to God for a sense of belonging to a united nation and to ask God’s forgiveness for omissions and opportunities lost. He went on further to say that the anniversary is a time to renew a commitment to promoting the common good and national solidarity.
Click here to read more »
Major Report on Human Trafficking, Forced Labor and Slavery Issued June 23rd, 2010
Global NGO Shows Evidence of Widespread human trafficking across sectors and countries, including the United States
Verité, the global non-profit organization known for its state-of-the-art, ‘worker interview’ social audit, CSR training, labor rights research and supply chain expertise, launched a ground-breaking initiative today entitled HELP WANTED: Hiring, Human Trafficking and Slavery in the Global Economy. As part of the HELP WANTED initiative, the organization released a major report based on a year-long investigation that illustrates the prevalence of forced labor and human trafficking across many businesses across the globe. The group has launched a website to help stakeholder groups with the questions needed to be asked and steps needed to be taken in order to eradicate forced labor and slavery in supply chains around the world. To download a copy of the report and visit HELP WANTED, visit www.verite.org/wellmade.
ICCR Members on The Daily Show: Holier Than Dow June 20th, 2010
Members of the Interfaith Center on Corporate Responsibility (ICCR) working on financial reform appear on The Daily Show. Samantha Bee interviewed the group of Catholics: Seamus Finn, OMI, Sr. Barbara Aires, SCNJ, Fr. Joe LaMar, MM and Cathy Rowan, representing the Maryknoll Sisters.
Watch the video:
[HTML1]
