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Oblates and other Faith-Based and Socially Responsible Investors Work to Clean up Garment Industry Supply Chain May 16th, 2013
The Missionary Oblates, Oblate Investment Pastoral and GS-JPIC Rome have joined with more than 100 other institutional investors, with over $1.2 trillion in assets under management, in a statement condemning the broken supply chain system in the garment industry, especially in Bangladesh. This system, much of which urgently needs fixing, continues to result in huge loss of life in unsafe factories, as well as unfair remuneration for workers, many of whom are young parents.
This large coalition of religious groups and investors is pressing major American retailers to join a sweeping plan to improve safety in Bangladesh apparel factories, calling on them to act together to force changes in overseas workplaces.
Read the article about investor activism in the garment sector in the New York Times…
List of Signatories to the investor statement…
Additional press coverage:
Ketchup or Sequestration? February 27th, 2013
One stream of the analysis of the January retail numbers focused concretely on the impact that the reinstatement of the payroll tax had on the paychecks of more than 160 million U.S. workers and therefore on their spending habits. At the stroke of midnight on Dec. 31 the temporary rolling grand bargain on the fiscal cliff immediately brought lower paychecks to many households. For workers earning $50,000 in annual salary, that means $80 a month slashed from take-home pay, a bag of groceries weekly.
New Year’s Resolutions and Corporate Social Responsibility January 10th, 2013
The year-end transition is again replete with the consideration of resolutions concerning possible changes in behavior, activities or other patterns of action. Little seems to be known or reported about how many of these benchmarks or objectives are fulfilled or about how contented those who made resolutions are as the New Year unfolds.
Read Fr. Seamus’ latest blog on Huffington Post…
Jubilee USA Meets with White House Staff January 3rd, 2013
On December 20th, the leadership of the Jubilee USA Network met with Gayle Smith, Senior Director at the National Security Council and Special Assistant to President Obama on issues related to debt forgiveness, Vulture funds, tax havens, responsible lending and borrowing, and international financial institution reform. Fr. Seamus Finn, OMI attended the meeting on behalf of the Oblates, who are members of Jubilee USA. Learn more…
Streetwise Highlights Faith Consistent Investment Work January 3rd, 2013
A series of recent articles in Streetwise focusing on socially responsible investing, look at the work of the Interfaith Center on Corporate Responsibility (ICCR), the financial crisis and shadow banking system from the perspective of faith-consistent investors, and “doing well by doing good”. Streetwise, a social service agency in Chicago serving the homeless and at-risk population, combines immediate access to earned income through the sale of their newspaper with an array of social service supports.
Click here to read more »
