News Archives » Oblate Investment Pastoral
Cisco Shareholders Vote Down Oblate-Proposed Plan for Tax Transparency December 14th, 2022
Fr. Séamus Finn, OMI, Director, OMIUSA JPIC, OIP
“While payment of taxes does not rank high on anybody’s wish list, they are the contributions that individuals, organizations and institutions make at all levels so that governments can function and fulfill their responsibilities. Many corporations seek to hide from the public how much they pay in the different countries in which that they operate around the world. As shareholders and citizens, we believe that access to this information allows us to verify for ourselves if they are compliant in these matters and paying their fair share to support 
the common good, relieve the dire poverty and suffering of many and help to build a sustainable future for all. The OIP and the OMI USP have been leading proponents of this request with Cisco, Amazon and Microsoft, three of the largest companies resisting this proposal”. “This resolution with CISCO was supported by 27% of the shareholders last week, a vote total that is considered very acceptable for the first year that a resolution is presented, and allows us to present the resolution again in 2023”
Click here to see a report on Cisco’s action by Kevin Pinner for Law 360
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…
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