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Investors Support Conflict Mineral Rule June 3rd, 2013
The Missionary Oblates JPIC office has joined other investors in supporting a U.S. law aimed at preventing trade in conflict minerals from the Democratic Republic of Congo. The investors statement supporting the final rule by the SEC on Section 1502 of the Dodd-Frank legislation says, “Given that the long standing conflict in the Democratic Republic of Congo (DRC) has claimed more than five million lives and contributed to egregious human rights abuses such as rape, child soldiers, and slave labor, we believe companies must disclose their use of conflict minerals.”
Some manufacturers and business associations have sued the Securities and Exchange Commission (SEC) on the Section 1502 rule.
Missionary Oblates Join Other Institutional Investors in Calling for Comprehensive Immigration Reform May 1st, 2013
Missionary Oblates joined more than 70 institutional investors in a letter calling on Congress to take immediate action and pass common-sense immigration reform. The organizations consist of investors representing $890.5 billion in assets on behalf of major pension funds, non-profit organizations and socially conscious and faith-based investors.
The investors’ letter says, “We believe comprehensive reform must be developed and implemented consistent with the human rights of all concerned, must value the integrity of families and must prevent immigrant workers be they temporary or permanent from being subjected to second-class employment standards.”
Read the letter (Download PDF)
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.
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Interfaith Investors to Score Banks November 6th, 2012
The Interfaith Center on Corporate Responsibility, an influential investor coalition, will issue scorecards for the seven largest US banks next year, based on factors such as risk management and executive compensation.
The coalition has been influential in the field of corporate governance, pushing on issues such as “say on pay”, an advisory shareholder vote on executive compensation, which was included in the Dodd-Frank financial reform act.
ICCR has sent questionnaires to the seven largest US banks: Bank of America Merrill Lynch, Bank of New York Mellon, Citigroup, Goldman Sachs, JP Morgan Chase, Morgan Stanley and Wells Fargo. Sustainalytics, a provider of environmental social governance research, is partnering on the research.
Reverend Séamus Finn of the Missionary Oblates of Mary Immaculate said in the organisation’s annual report: “What is frustrating for many of us is the knowledge that the vast majority of these problems can be avoided by adopting the appropriate risk management safeguards and the requisite checks and balances. With each new scandal we think ‘maybe this time they will get it’, and then we open the morning paper to see that we still have work to do.”
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Engaging Corporations to Stop Human Trafficking October 17th, 2012
Human trafficking – the recruiting, transport, harboring or receiving of persons through force, coercion or fraud – targets vulnerable people who are then exploited through forced labor, bonded (debt) labor, prostitution or other sexual exploitation, or as child soldiers. It is a crime without borders; every country in the world has been touched by human trafficking, whether as a country of origin, transit, or destination for victims.
Thus begins an article on human trafficking describing the work of members of the Interfaith Center on Corporate Responsibility (ICCR). “Leveraging Corporate Power in the Fight Against Human Trafficking,” explains how ICCR work on conflict minerals, the California Transparency in Supply Chains Act, and investor work around the London Olympics has helped to reduce the incidence of human trafficking, and to raise awareness of this heartbreaking issue.
Interested in more information on how corporations can address the issue? Read Corporate Strategies to Address Human trafficking, a joint publication of Christian Brothers Investment Services, ICCR and ECCR.
