In 2019, the majority of independent shareholders voted for a resolution asking the board of directors to report on the actions the company has taken to uphold decent work practices across its owned and franchised operations but the company has refused to implement the proposal.
Because this crisis is having devastating and unequal impacts on workers in global supply chains, inaction is not an option. What happens now in global supply chains is part and parcel of business continuity issues for retailers and brands, not a separate and isolated issue.
The resolution at Brookfield Asset Management recommends the company assign accountability to a board committee and amend the committee’s charter to monitor human capital management policies and disclosure and evaluate the disclosure of workforce metrics to shareholders.
In the past few weeks, we have seen how COVID-19 poses greater risks to Indigenous Peoples relative to the settler population as a whole. Reconciliation and Indigenous rights continue to be a priority at SHARE as we monitor corporate responses to the crisis.
SHARE issued an open letter to the CEOs of two of Canada’s largest residential property owners: Starlight Investments and Northview REIT. Starlight, one of Canada’s largest landlords will grow further if a proposed deal goes through to acquire Northview. We outline two fundamental areas of concern for responsible investors regarding real estate investment, and ask the company’s to outline their plans.
While boards of directors have not typically held responsibility for workforce issues, it’s now abundantly clear that how frontline workers are treated cannot be an afterthought. It has to be central to how corporate boards think about a company’s success.
SHARE is encouraged by announcements which will hopefully both provide much-needed support for workers and communities that are most affected during these difficult times, and allow the oil and gas sector to accelerate efforts to transition to a low-carbon economy
Ovintiv Inc., a leading oil and gas producer in North America, has not made clear how it plans to reduce its emissions and manage its climate-related risks in an increasingly carbon-constrained environment. Unlike many of its peers, Ovintiv has not disclosed any climate-related targets, resulting in uncertainty for investors about how climate-related risks are being managed.
The theme of this year’s World Water Day was “Water and Climate Change” – a connection that fits neatly with SHARE’s work in recent years on shareholder engagement and policy work related to water. One thing that COVID-19 has made clear is that there is enormous capacity for coordinated global action – when there is the impetus and will to do so.
Following a longstanding engagement between SHARE and Cenovus Energy Inc., the company has committed to reducing its greenhouse gas (GHG) emissions intensity by 30% by 2030 and to keep absolute GHG emissions flat during that same period. It also announced an “ambition” of reaching net zero emissions by 2050.