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Socially Responsible Investment Coalition Celebrates 30th Anniversary! April 20th, 2012
The Socially Responsible Investment Coalition (SRIC) celebrated its 30th anniversary in the new Whitley Theological Center Facility on the campus on the Oblate School of Theology in San Antonio recently. Seamus Finn, OMI presented, using a video and powerpoint presentation in a panel titled “Impacting Investments in a Sustainable World.”
SRIC is a non-profit religiously sponsored organization headquartered in San Antonio, Texas. Institutions and individuals belonging to SRIC work to balance their economic policies and practices with their fair and social concerns. As investors and shareholders, members act to influence corporations toward social responsibilty.
Oblates Participate in 10th Harvard University Forum on Islamic Finance April 20th, 2012
Fr. Séamus Finn, OMI participated in the 10th Harvard University Forum on Islamic Finance held in Cambridge, Massachusetts on March 24-25, 2012. He was a panelist in the plenary session on Faith-Based Investment and Social Responsibility.
The Forum brochure offered this summary of the proceedings:
The Tenth Forum features three main parallel sessions, which reflect three major themes within the topic of economic development. These include the Islamic financial sector’s contribution to global economic development, Islamic finance and the development of Small and Medium-sized Enterprises (SMEs), and faith-based investment and social responsibility. Apart from these three main sessions, there are also parallel sessions on Islamic finance and the Arab Spring movements, global perspectives on Islamic finance, Islamic finance and alternative economic thinking, and current academic research on product development in the Islamic finance industry. With over 50 speakers and 30 nationalities represented, the forum attracts the leading practitioners from academia and the industry to critically discuss the issues highlighted above with a view to proposing sustainable developmental plans for the Islamic finance industry in general. There is no doubt that this rapidly developing field of the global financial system requires a close scrutiny to maximally harness it for the development of the global economy.Learn more about the Islamic Finance Project…
US Textile Trade Associations Press Bangladeshi Government on Murder of Labor Leader April 20th, 2012
- Aminul Islam, slain Bangladeshi labor leader
A number of textile trade associations and unions sent a letter to the Bangladeshi Prime Minister in response to the recent murder of labor activist, Aminul Islam. Mr. Islam was a senior organizer at the Bangladesh Center for Worker Solidarity (BCWS) and a local leader for the Bangladesh Garment and Industrial Workers Federation (BGIWF). Both organizations have been working to help workers combat low wages, deadly factory fires, and repression of their right to organize. This letter went to the Prime Minister through the initiative of ICCR shareholders with Wal-Mart and PVH Corp. (Phillips Van Heusen). The Missionary Oblates is an active member of the Interfaith Center on Corporate Responsibility (ICCR).
Read the letter (Download PDF)
The International Labor Rights Forum sent out this information on Aminul Islam on April 12th:
Last Wednesday, Aminul Islam left his office for evening prayers. He noticed a police van parked outside and called his colleagues, worried about possible harassment. Then he went to meet with a worker. He never returned home.
His body was found a day later. According to police reports his legs had severe torture marks including a hole made by a sharp object. All his toes were broken.
Aminul was a senior organizer at the Bangladesh Center for Worker Solidarity (BCWS) and a local leader for the Bangladesh Garment and Industrial Workers Federation (BGIWF). ILRF has worked with BCWS and BGIWF for many years. They have been a critical force in the effort to defend workers’ rights in a country known for sub-poverty wages, deadly factory fires, and repression of the right to organize.
Over the past two years, the government of Bangladesh has carried out a campaign of intimidation and harassment against BCWS. On June 16, 2010, Aminul was detained by security forces, beaten repeatedly and threatened with death, in an attempt to coerce him into making incriminating statements against the organization. Not long after, he and his colleagues Kalpona Akter and Babul Akhter were arrested and kept in jail for nearly a month, where they were subjected to psychological and physical abuse. Since 2010, Aminul, Kalpona and Babul have faced criminal charges for which no substantiating evidence has been presented.
Given this history, there is strong reason to suspect that Aminul’s murder was in retaliation for his efforts as a labor rights organizer and to fear this could represent a violent escalation in the repression of worker rights advocates in Bangladesh.
Join with us in calling for a thorough and impartial investigation into Aminul’s murder. BCWS and BGIWF have asked for an outpouring of letters to the Prime Minister of Bangladesh. Please take a moment to add your voice!
Faith and Values-Inspired Investments April 16th, 2012
Both the Jewish and Christian communities from their earliest documents display a debate about the foundational questions of ownership, agency, interest and usury. The Holy Quran also offers some unique teachings. Fr. Finn’s blog on Huffington Post reflects on discussions at the Tenth Harvard University Forum on Islamic Finance, and looks at the relationship between faith-consistent (FCI) and socially responsible investing (SRI).
Read the blog no Huffington post…
Corporations Make Strides in Conserving Water April 9th, 2012
Two companies, which the Missionary Oblates and other members of the Interfaith Center on Corporate Responsibility (ICCR), have engaged in long-term corporate dialogs, have adopted important water-use reduction and management goals.
The Coca-Cola Company has announced a goal of becoming water neutral in their direct operations by 2020, and has taken a leadership role in corporate water management efforts. Coca Cola released its fifth annual Global Water Stewardship and Replenish Report on World Water Day (March 22nd). The company also recently released its first GRI (Global Reporting Initiative) report, an important move to increase transparency of data on its sustainability efforts.
Ford Motor Company recently announced plans to cut the amount of water used to make each of its vehicles by 30 percent, as of 2015, compared with the amount of water used in 2009. Under its Global Water Management Initiative adopted in 2000, the company had already reduced water use per vehicle by 62% as of 2010. Ford has recognized water as a material issue, along with other environmental, human rights and financial impacts on the corporation, and has identified water as one of its top priorities. Operating as it does in a number of water-stressed areas, the car manufacturer is investing in technologies that make its manufacturing processes less water intensive, as well as technologies for treating and reusing wastewater.
The Missionary Oblates JPIC Office has increasingly focused on water in its faith-consistent investment work as a vital issue affecting the health and well being of people across the globe, but especially the poor living in water-stressed and water scarce areas.
