https://gmpsiaprec.blogspot.com.au/2018/01/missing-links-in-investment-chain-asset.html
http://www.workerscapital.org/blog/post/missing-links-in-the-investment-chain
http://www.workerscapital.org/blog/post/missing-links-in-the-investment-chain
In
an important article published by CWC (Committee for Workers Capital) , the
article titled " How did global asset managers
vote on resolutions targeting workers’ rights and labour standards?
" published at
http://www.workerscapital.org/blog/post/missing-links-in-the-investment-chain ,
provides additional back ground to the steps being taken by the world’s largest asset manager that “every company must not only deliver financial
performance but also show how it makes a positive contribution to society”
Referring to an article
at https://www.nytimes.com/2018/01/15/business/dealbook/blackrock-laurence-fink-letter.html
in which Laurence Fink, chief executive and founder of large investment
firm BlackRock , the
article in the NYTimes written by Andrew Ross Sorkin a
columnist for the same newspaper , also states that " Until recently, companies like
BlackRock have traditionally been passive investors and have done little to
pressure the leaders of companies they invested in; in fact they were known for
rubber stamping management’s plans. It was active investors who sought to hold
companies accountable — either by agitating for change or by selling their
shares to express their displeasure."
The article at the CWC
site by Tamara V Herman, builds on the above NYTimes report and " takes a closer look
at how the world’s largest asset managers perform on issues related to workers’
rights and labour standards. " as
" proxy voting is a window into how
asset managers approach ESG issues, we looked at the proxy voting records of
large global asset managers used by pension funds across the world to examine
how they voted on shareholder resolutions on workers’ rights and labour
standards in the USA and Canada. The seven asset managers we selected
ranked in the I&PE Largest Global Asset Managers 2016 Survey, were
headquartered in several different countries, disclosed their voting in their
July 1 2016 – June 30 2017 N-PX filings and are UN Principles for Responsible Investment
(UNPRI) signatories. We then selected 15 shareholder resolutions (see below or click here for more details) that were either put forward by investors in the CWC network and/or
classified as a workplace conditions/worker treatment issues."
Both
articles are well worth reading, as part of the development and changing attitudes
to investment and shareholder accountability , and can be passed on to Unions,
activists in just investment and pension or superannuation fund Director Trustees
....
If you have similar articles and would like to share with your Union Colleagues in Local Government or Utilities, Electricity and Water in the AP Region please pass on to below page email address greg.mclean92@gmail.com.au
