Shareholders led by New York state and the Church of England are calling on global oil giant Exxon Mobil to set targets for cutting its greenhouse gas emissions, in a sign of growing investor pressure on fossil fuel groups to address climate change.
In a theological reflection that was presented to SHARE’s annual gathering of religious investors, David Pfrimmer speaks about how responsible investment and shareholder advocacy has a “game-like” quality to it in spite of the fact that the consequences can be so essential to the well-being of people, communities, and the planet.
There’s a bit of a myth of this little religious community from Newfoundland and Labrador trying to stand up to two giant multinational corporations,” said Davis. “But once we became members of SHARE we were no longer a little religious community. Now you are talking about millions and millions of dollars being invested by many, many organizations that shared similar values.”
The Shareholder Association for Research and Education is teaming up with the U.S.-based Interfaith Center on Corporate Responsibility to send a letter to 30 companies requesting they participate in a water questionnaire from the Carbon Disclosure Project, a British organization that encourages companies to disclose environmental data and has the backing of 639 investors worldwide.
Benefits and Pension Monitor: Institutional investors have increasingly begun to realize that the gap between the very wealthy and all others has become one of the most socioeconomic issues of these times, says Steve Lydenberg, founder and CEO of The Investment Integration Project (TIIP).
Speaking at the ‘Investing to Address Income Inequality’ event sponsored by the Shareholder Association for Research & Education (SHARE), the Principles for Responsible Investing (PRI), and TIIP during ‘Canada’s Responsible Investment Week,’ he said it has the potential to negatively impact institutional investor portfolios, increase financial and social system-level instability, lower output and slow economic growth, and contribute to the rise of nationalistic populism and tendencies toward isolationism and protectionism.READ FULL ARTICLE
Business & Human Rights Resource Centre: In November and December 2017, the Subcommittee on International Human Rights of the House of Commons Standing Committee on Foreign Affairs and International Development undertook a study on child labour in supply chains. The Subcommittee received testimony and written briefs from representatives from non-governmental organizations, the private sector, academics, the ILO, and Government of Canada officials to inform the drafting of this study.
The study includes several recommendations for how Canada can contribute to eliminating child labour and forced labour through its international assistance; support for education, law enforcement and judicial systems; free trade negotiations; engagement with Canadian businesses; procurement policies; and legislative and policy initiatives.READ FULL ARTICLE
Just-Style: Canadian investors have placed their support behind the recommendation made in a Parliamentary report calling for legislation to ensure businesses disclose steps they are taking to address child labour and forced labour in global supply chains.READ FULL ARTICLE
London School of Economics and Political Science: It is becoming ever clearer that action on climate change is not just environmentally essential but also provides one of the best strategies for delivering positive economic and social development. The crux of the matter is to make sure that the climate transition is designed to deliver high social standards in the growing green economy and that the phase-down of high-carbon sectors does not result in ‘stranded’ workers, communities and, potentially, countries.READ FULL ARTICLE
Clean Economy Alliance: Climate change is no longer just an environmental issue. It’s a health issue, an economic issue, and above all, a human issue. That’s why organizations and businesses from many sectors came together to sign on to a letter calling for Ontario’s government to build an effective, comprehensive plan to address climate change.READ FULL ARTICLE
Financial Post: Alimentation Couche-Tard Inc. says it will allow shareholders to vote on the pay packages of the company’s top five executives, but not until next year.