Interfaith Center for Corporate Responsibility has announced a summary of its members’ resolutions for filing year 2017.
Alicia Seiger writes in The Stanford Social Innovation Review:
The business case for acting on climate change has never been stronger, and the need to act has never been more urgent. For the past three years, worldwide carbon emissions from fossil fuels have stayed flat while gross domestic product (GDP) has grown, demonstrating that emissions and economic growth aren’t inextricably linked. Decoupling emissions and growth is just the first step. To stay within the carbon budget for 2 degrees Celsius warming—and avoid the most catastrophic impacts of climate change—global emissions have to start falling by 2020. While the President of the largest economy in the world blows headwinds at progress, business leaders and investors must act to bend the emissions curve.
As reported by Jennifer Hermes in Environmental Leader, “Ninety percent of the 250 largest companies in the world are reporting sustainability performance, but greenwashing is “a very serious issue,” says the new chief executive of the Global Reporting Initiative (GRI), Tim Mohin. In the early days of sustainability reporting, greenwashing could result in bad PR and a loss of consumer confidence. But that is no longer the worst that can happen….”
As investors shareholders engaged in dialogues with retailers, we are heartened by last week’s announcement that global unions and companies signed an agreement to extend the Accord for Fire and Building Safety for an additional three year period in force after May 2018. This is great news! Investors, including those from SGI, have played an important role in supporting the Accord, assessing its progress and recommending areas to be strengthened going forward.
ICCR’s statement applauding the agreement is found here.
SGI members signed onto the April 2017 investor statement on the 4th Anniversary of the Rana Plaza Tragedy. Our recommendations included:
- Accord companies and trade union representatives agree to extend the Accord for the period of time needed to remediate systemic issues that still threaten worker safety and livelihood.
- Broaden the current scope of the Accord to include; i) a focus on freedom of association and collective bargaining and integrate this into the Complaints Mechanism process and ii) additional parts of the supply chain where similar risks exist such as washing, dying, fabrics, leather and home textiles.
The new agreement responds positively to these recommendations. Over the past four years, investor activism has made a difference in providing support and urging further action to make sure that garment factories are made safer now and in the future.
The Board of Directors of Seventh Generation Interfaith Coalition for Responsible Investing unanimously approved the selection of Frank Sherman as Executive Director of the organization at its June 22 Board meeting. The promotion is effective today.
As Associate Director under founding Executive Director Fr. Mike Crosby, O. F. M. Cap. for several years, Sherman demonstrated many traits appropriate to leadership of the organization, including shareholder activism. As a sitting Board member of Interfaith Center for Corporate Responsibility, he brings immediate connection and presence to the national responsible investing scene.
Before embarking upon his current career, Sherman was a senior corporate leader of Akzo Nobel, a multinational Dutch pharmaceutical firm.
The Governing Board of the Interfaith Center on Corporate Responsibility (ICCR) is pleased to announce that the winners of the ICCR 2017 Legacy Award are Sr. Patricia Daly, O.P. of the Dominican Sisters of Caldwell, New Jersey and Fr. Michael Crosby O.F.M. Cap. of the Province of St. Joseph of the Capuchin Order. Fr. Crosby is also the Executive Director of Seventh Generation Interfaith.
–Frank Sherman, Associate Director Seventh Generation Interfaith Coalition for Responsible Investing
Climate change was on center stage at last week’s ICCR conference in Grand Rapids. Watching environmental regulations built up over many years being weakened or eliminated in Washington, leading to the U.S. exit from the Paris Climate Accord, has been painful. Especially considering the fact that the poorest people on our planet who had nothing to do with causing this problem will bare the blunt of the consequences.
But how do you speak to a climate denier?
(Complete text of How do you speak to a climate denier?)