News Archives » faith responsible investing
Bipartisan Bill on Human Rights Risks in Supply Chains August 16th, 2011
On August 1, 2011, Congresswoman Carolyn Maloney (D-NY) introduced the Business Transparency on Trafficking and Slavery Act (H.R. 2759). If enacted into law, the bill would require companies to disclose efforts to identify and address the risks of human trafficking, forced labor, slavery, and the worst forms of child labor in their supply chains. The bill is co-sponsored by Rep. Christopher Smith (R-NJ), the Chairman of the US House Subcommittee on Africa and Global Health.
H.R. 2759 would require companies to include such disclosures in their annual reports to the Securities and Exchange Commission (SEC). Disclosure would include policies to identify and eliminate risks of forced labor, slavery, human trafficking, and the worst forms of child labor within their supply chains. It would also require suppliers to certify that materials incorporated into the products comply with laws regarding the above issues in the country or countries in which they are doing business.
The disclosures would be available on the SEC and company websites. The bill has been referred to the House Committee on Financial Services for further legislative consideration. Stay tuned to the JPIC website for updates on this important legislation.
ICCR Celebrates 40th Anniversary! June 6th, 2011
The Interfaith Center on Corporate Responsibility (ICCR), of which the Oblates are active members, has been engaging corporations on issues related to the common good for forty years.
Read about ICCR and some recent successful member initiatives.
Interfaith Investor Group Urges Fed and Top Banks to Restore Public Confidence in Financial System April 20th, 2011
Citing Widespread Confidence Loss in U.S. Banks, Members of the Interfaith Center on Corporate Responsibility Advance Shareholder Proposals at Citigroup and Other Top Banks.New York, NY
Today, a task force from the Interfaith Center on Corporate Responsibility (ICCR) meets with representatives from the Federal Reserve to discuss its progress implementing regulation passed as part of the Dodd-Frank Bill last July. At issue are structures created by the Operations Management Group to monitor the global trading of derivatives in an effort to limit the excessive risk-taking that nearly toppled the financial system in 2008, left millions jobless and homeless, and shook global confidence in the markets to its core.
Click here to read more »
Fr. Seamus Finn, OMI to Address Business Ethics Conference in Orange County, CA April 12th, 2011
Fr. Seamus Finn, OMI – Director of the Oblate JPIC Office and Board member of the Interfaith Center on Corporate Responsibility – will give the keynote address on corporate responsibility and socially responsible investing. He encourages people to integrate their beliefs — such as caring for the environment and paying workers a fair wage — into their investment and business decisions.
“You don’t have to sacrifice return on your investment or profit from your business by integrating either your beliefs or your values into that process,” Fr. Finn said.
He sees the issue moved to the front burner because of the string of problems in the Middle East.
“What it does for me is shine a spotlight on that part of the world and ask a question about whether or not the U.S. has been turning a blind eye to the plight of a lot of citizens in these countries and imported refugee labor because we need the oil,” he said.
But Fr. Finn, who has been pushing for social responsibility in business for more than two decades, said he sees reason for hope as more companies put the environment and people first with tags like organic and sweatshop-free.
“There’s a reason to be optimistic I think because the consumer — the person who’s out there buying a computer or a car or some piece of clothing — they’re asking more questions about where these things come from,” Finn said. “What I think is intriguing and encouraging is that it’s not as difficult to get answers to these questions as it was 20 years ago. You can take our your iPhone or Android and if you have a question, you can put it in there and someplace out there in this vast web of Internet connectivity you’re going to get some answers.”
Read the article at the Daily Pilot
Socially Responsible Investors Submit Guidance for Conflict Minerals Rule March 29th, 2011
The Oblates joined a large group of socially responsible investors in a letter providing specific comments to the SEC on the Conflict Mineral Provision 1502 of the Dodd-Frank Finance Reform Act.
