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Workers Capital News - December 2016

In this issue:

  • Éric Loiselet; Trustee Leadership Profiles; ITUC General Council Meeting; Taskforce on workers’ rights and labour standards in the investment chain; CWC/PRI meeting; News from the AFL-CIO, CtW Investment Group and JTUC-Rengo

NEWS FROM THE CWC SECRETARIAT

  • Éric Loiselet: CWC participant Philippe Soubirous pays tribute to Éric Loiselet in English and French.
  • Trustee Leadership Profiles: The CWC is undertaking a new project to develop and disseminate action profiles of how pension trustees deal with salient ESG issues at the board level. Watch for our first profile of Dutch pension fund ABP vice-chair José Meijer in January 2017.
  • ITUC General Council meeting: The ITUC held its annual General Council meeting in Vienna from November 29 – December 1st 2016. For a short report, click here. CWC Chair and FNV Treasurer Coen van der Veer spoke about the CWC and presented a report on the 2016 activities of the CWC. Link to speech and presentation.
  • Taskforce on workers’ rights and labour standards in the investment chain: The Taskforce is currently updating the Guidelines on Workers’ Human Rights and Labour Standards based on the input it received at the Dialogue with rating agencies in June 2016 in Amsterdam.
  • CWC/PRI meeting: In July, the CWC sent a letter to the PRI on elevating the “S” in “ESG” in response to the organisation’s strategic planning consultation.  In December, the CWC leadership and the PRI held a meeting as a follow-up to our letter. The meeting provided an opportunity to further discuss the possibility of a joint initiative as well as our input into a stronger integration of social issues into the PRI’s work.

NEWS FROM CWC PARTICIPANTS

  • AFL-CIO: SHARE’s Manager of Proxy Voting Services and Senior Research Analyst Catherine Smith blogs about the AFL-CIO’s shareholder proposal at Alimentation Couche-Tard. Forty-two percent of non-controlling shareholders voted in favour of the proposal, which asked Alimentation Couche-Tard to report on how it identifies and evaluates its exposure to human rights violations in its supply chain.
  • CtW Investment Group: The CtW Investment Group sent a letter to Wells Fargo & Co.’s board following U.S. Federal regulators’ recent enforcement action against the bank for creating millions of fake accounts without customers’ knowledge or permission. The letter calls for executive clawbacks, two new board directors and an independent comprehensive review of Wells Fargo’s human capital management practices.
  • JTUC-Rengo: Representatives from Japanese trade union JTUC-Rengo took part in a UNPRI roundtable on the role of income inequality in investments. The event took place in Tokyo and was based on a research paper authored by David Wood, Initiative for Responsible Investment Hauser Institute for Civil Society, Harvard Kennedy School.
 

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