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Workers Capital News - April 2017

In this issue:

  • XPO Logistics shareholder campaign; CWC Conference; Taskforce on workers' rights and labour standards in the investment chain; Trustee Profile Series; News and notes from Australia, France, the Netherlands, and the US; OECD Responsible Business Conduct for Institutional Investors

NEWS FROM THE CWC SECRETARIAT

XPO Logistics Shareholder Resolution 
The CWC is supporting a shareholder proposal, filed by the International Brotherhood of Teamsters General Fund, that aims to improve the company's human rights and labour rights record. 

CWC Conference
The CWC Conference will be held on September 24-25 in Berlin, Germany at the offices of ver.di. Rooms can be booked at a preferential rate at the ibis Berlin Ostbahnhof N° 76573 under the name "CWC Conference" for a limited time. More details and an agenda are forthcoming.

Taskforce on workers’ rights and labour standards in the investment chain
The Council on Global Unions Taskforce endorsed the Guidelines on Workers’ Human Rights and Labour Standards. The Taskforce is now turning its attention to the dissemination and implementation of the Guidelines. 

Trustee Profile Series
The CWC published the first of a series of action profiles on how pension trustees from across the world deal with salient ESG issues at the board level.


NEWS AND NOTES FROM CWC PARTICIPANTS

Australia
The Australian Council of Trade Unions (ACTU) provided CWC participants with an update on its work on the "ESG/Labour Standards Ratings Project" and the CWC Guidelines on Workers’ Human Rights and Labour Standards, as well as other related activities.

France
The Réseau d'Administrateurs pour l'Investissement Responsable (RAIR) is working with UNITE HERE on a capital stewardship campaign to support labour rights for workers at a luxury hotel in the US managed by a subsidiary of French bank Natixis.

The Netherlands
The FNV and VDBO have a released a document entitled Freedom of Association & Right to Collective Bargaining: The role of pension funds. Dutch metal funds PME and PMT published a position paper urging Unilever to stay on course in terms of its ESG performance. 

United States
The AFL-CIO mobilised more than 100 institutional investors with a combined $3 trillion in assets under management sent a letter to the U.S. Securities and Exchange Commission in support of a CEO-to-worker pay ratio disclosure.

The CtW Investment Group sent a letter to the board of Caterpillar calling for the company to improve oversight of tax policies and compensation. 

 

IMPORTANT READS

The OECD has released Responsible Business Conduct for Institutional Investors. The paper explains the application of the OECD Guidelines for Multinational Enterprises in the context of institutional investors. It highlights key considerations for institutional investors in carrying out due diligence to identify and respond to environmental and social risks.

RI.COM: OECD clarifies role of minority investors under its guidelines for multinational enterprises

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