News Archives » corporate social responsibility
Oblates Join Broad Coalition in Call for Reform of Financial Markets February 8th, 2010
Commodity Markets Oversight Coalition and Americans for Financial Reform Call for Reforms that Could Have Prevented Economic Crisis and Commodities Bubbles
The Missionary Oblates, long active in shareholder advocacy, have been pressing for major reforms in derivatives trading and commodity speculation in their dialogs with major banks and other financial services institutions. Recently, the Oblates joined a broad coalition calling for needed reform of the financial system to prevent a repeat of last year’s financial meltdown.
Advocates for financial reform have formed a powerful partnership with business interests ranging from heating and motor fuels retailers to cotton marketers, and trucking companies to airlines, and this new alliance is calling on Congress and Federal Regulators to bring derivatives out of the shadows and into the daylight.
Read the Coalition’s “Joint Statement of Shared Principles for Needed Reforms in the Futures/Derivatives Markets.”
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2009 Global Parliament of Religions Gather in Australia December 7th, 2009
There are No Jobs on a Dead Planet
The Rev. Seamus Finn, OMI will speak at the fifth global conference of the Parliament of World Religions which is meeting from December 3 to 9, 2009 in Melbourne, Australia. The Council for a Parliament of the World’s Religions aims to cultivate harmony among the world’s religious and spiritual communities and foster their engagement with the world and its guiding institutions in order to achieve a just, peaceful and sustainable world.
The theme for the 2009 Parliament is “Make a World of Difference: Hearing each other, Healing the earth.” The 2009 Parliament will welcome over 10,000 people from 80 countries to take part in approximately 500 events including keynote addresses, seminars, conferences, debates, performances, concerts and exhibitions.
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Wal-Mart to Measure Sustainability of its Products July 18th, 2009
Wal-Mart is known for its rock-bottom prices, but customers soon will also be able to choose what products to buy on the basis of their social and environmental impacts – or at least that is the idea, according to the company. Wal-Mart announced today that it is launching a Sustainability Index – an electronic indexing system that will provide information about a product’s carbon footprint, the gallons of water used to create it, the air pollution left in its wake and social impacts related to production.
The company has recruited scholars, suppliers, and environmental groups to help it create the index – a universal rating system that scores products based on how environmentally and socially sustainable they are over the course of their lives. The goal is to have other retailers adopt the indexing system, which will be created over the next five years.
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Chevron Human Rights Resolution Supported by Oblates June 18th, 2009
Using a proxy from the Missionary Oblates, Michael Eisenscher of U.S. Labor Against the War addressed the Annual General Meeting of the Chevron Corporation on May about the company’s efforts to profit from Iraqi oil. The company profited, in particular, from a widely-opposed oil law that would give foreign corporations like Chevron almost complete control of Iraq’s oil industry, to the detriment of the rights of ordinary Iraqis.
Members of the True Cost of Chevron coalition presented their alternative annual report directly to Chevron management and CEO David O’Reilly (who disparagingly responded during the meeting that it “deserves the trash can”). Edited and painstakingly researched by Antonia Juhasz, with help from a coalition of over a dozen groups, “The True Cost of Chevron” highlights the tragic human consequences that are the flip side of the record profits Chevron collected in 2008. It can be downloaded for free at http://truecostofchevron.com/report.html
Chevron is finding itself increasingly in the spotlight over the harmful consequences of its operations, and shareholders are deeply concerned, as evidenced by the 28% support yet again this year for the resolution calling for a clear human rights policy. 28% is considered extremely good performance for a shareholder resolution of this type. Investors representing billions of dollars in Chevron stock have spoken up in support of greater social responsibility, and although the True Cost of Chevron’s coalition’s speakers inside the meeting were treated dismissively by CEO O’Reilly, Chevron is taking notice.
Oblates Work with Parishioners to Save Mortgages April 27th, 2009
John Lasseigne, OMI is a priest at Mary Immaculate Catholic Church in the Southern California community of Pacoima, where one in every nine homes is in some stage of foreclosure. He says the people in this community were targeted by predatory lenders and given loans they never should have qualified for.
Fr. Lasseigne and others at Mary Immaculate, has been working with One-LA, a community organizing effort in Los Angeles, to help parishioners re-finance problematic mortgages.
CNN recently did a story on this effort. Watch the video…
