Pakistan PSI Affiliate - WAPDA pushes for extra 'superannuation benefits ' , additional housing , increase in wages and pensions

The above article was published in the ' Nation' , newspaper Pakistan 4th November, supplied by Osama  Tariq Secretary, All Pakistan Workers  Confederation  (Regd) , Bukhtiar  Labour  Hall  28 Nisbet  Road  Lahore  Pakistan. pwf@brain.net.pk

ILO study reveals bankruptcy of pensions privatisation

http://www.world-psi.org/en/ilo-study-reveals-bankruptcy-pensions-privatisation

A new publication by the ILO confirms PSI’s long-held position: the privatisation of public pension systems has delivered vast returns to a tiny financial elite while diminishing the incomes of workers in retirement.

• The primary beneficiaries of privatisation are elites within societies

• Privatisation frequently facilitates and increases corruption

• Government and corporate promises of universal benefit of privatisation are inflated and under-delivered

• When governments announce privatisation, unions must prepare to fight

• Accumulated evidence shows that most privatisations can and should be defeated

• Privatisations can be reversed[i]

The privatisation of pensions has been a core element of neoliberal restructuring promoted by the World Bank, the IMF, the OECD, the Inter-American, African and Asian Development Banks, USAID and the financial services companies who derive the ultimate benefit.  And, as with much of the privatisation story, Chile was the first country to privatise pensions systems under the direction of US-backed military dictator Augusto Pinochet in 1981.

Rosa Pavanelli, PSI General Secretary, notes:

“I want to congratulate Isabel Ortiz, Fabio Durán and their team at the ILO for this book.  It starkly reveals the hypocrisy of pension privatisation, which has basically institutionalised the theft of workers’ wages.  It shows the moral bankruptcy of the neoliberals, who knew exactly what they were doing.  One can only feel outrage when reading the conclusions.  But one also feels hope that good sense will prevail, and that the remaining countries with privatised pensions will take them back under public management – as is increasingly the case in water, energy, transport, health and other key public services.”
“Another aspect of this work that must be acknowledged is the evidence that when workers are not involved in decisions, we can be sure that their welfare will not be protected. Worker and trade union involvement is essential, and our job is to ensure that governments and the international agencies respect our legitimacy, especially around issues as crucial as social protection and retirement.”

The lessons that PSI draws from this experience are consistent with the experiences of privatisation in other sectors: 

The lessons for trade unions in public services are equally important:

• When governments announce privatisation, unions must prepare to fight

• Accumulated evidence shows that most privatisations can and should be defeated

• Privatisations can be reversed.

Above article from http://www.world-psi.org/en/ilo-study-reveals-bankruptcy-pensions-privatisation

Governments Should Back Binding UN Treaty on Business and Human Rights

Governments Should Back Binding UN Treaty on Business and Human Rights

Brussels, 11 October 2018 (ITUC OnLine): The ITUC is calling on governments to support a United Nations Binding Treaty on Business and Human Rights in negotiations underway at the UN Human Rights Council. A “Zero Draft” of the Treaty will be the basis for a further round of talks starting on 15 October in Geneva. 

 

Sharan Burrow, ITUC General Secretary, said: “The world is crying out for multinational corporations to be held responsible for their international operations, to end the abuse and violations of workers’ and other human rights in global supply chains. Today, companies can flout international law at will outside their home bases, and workers are paying a heavy price with poverty wages, oppressive working conditions, unacceptably long working hours and death, injury and sickness caused by work. This treaty should close a massive loophole which allows corporations to flout international labour and human rights standards.”

The zero draft includes crucial provisions which would represent a big step forward in ensuring corporate accountability throughout global supply chains - 

• a requirement for businesses to adopt and apply human rights due diligence policies and procedures;

• a strong focus on access to effective judicial recourse for victims of human rights violations;

• a basis for “parent-based extraterritorial jurisdiction”, which will allow workers to have access to justice in the home countries of multinational companies; and

• mutual legal assistance and international cooperation between states in transnational cases.

The ITUC is calling for improvements to the draft, including:

• a re-statement of the duty of businesses to respect human rights throughout their operations;

• explicit recognition that human rights standards have primacy over trade and investment agreements;

• alignment of due diligence provisions with the existing UN Guiding Principles on Business and Human Rights; and 

• creation of a strong international enforcement mechanism beyond the frameworks which have been proposed so far for the Treaty.

The ITUC is also seeking to remove ambiguous language from the draft, and for the treaty to limit the use of “forum non conveniens”, a legal doctrine which corporations use to have cases against them heard by courts in countries where the law is weak.

“Governments at the G20 and other fora have been making pledges to stop the undermining of ILO standards as a way to get a competitive edge in global markets. It’s time these words are put into action through a binding UN Treaty,” said Burrow.

To read the ITUC/Global Union Federations position paper for the negotiations.

Transparency International - latest bulletin

Information is power. Information is also fundamental to make informed decisions. Where it’s not freely accessible, corruption can thrive and basic rights can be denied. People can hide corrupt acts behind a veil of secrecy. On this International Right to Know Day we want to highlight how ensuring access to — and disclosure of — information can empower people and institutions to prevent and fight corruption. Access to information is the right by law — often through freedom of information laws — to request key facts and data from the government. When that right to know is denied, we can’t hold decision makers or institutions to account for their actions, nor can we make informed choices when we vote. But it’s a two-way process. Under law or in good faith, public officials, companies and organisations are required to proactively disclose information about what they do. We must use this information to make full use of our rights. Nearly 120 countries have right to information (RTI) laws, however implementation is often patchy and many citizens don’t know about these laws or how to use them to their advantage. Even strong laws can be ineffective if the officials providing information are undertrained, too few or supporting a culture of secrecy. This is why we urge you to find out about the laws in your country and exercise your right to information. If you want better access to information in your country, call on your government online, in person and through your local Transparency International chapter. Individuals can make changes with information, but first they must persuade governments to give access to information. Events yasiin bey to headline Fair Play Live 2018! Exciting news! Hip-hop icon and activist yasiin bey (formerly known as Mos Def) will headline Fair Play: Live 2018, the international music event bringing together musicians from around the world to perform in support of social justice. Where? VEGA, Copenhagen, Denmark. When? 23 October 2018. Register for the 18th IACC The world’s largest independent forum for fighting corruption will bring together more than 1500 participants from all over the world from 22-24 October in Copenhagen, Denmark - register now or get your press accreditation. Films for Transparency: programme out now We're proud to present the catalogue of Films for Transparency, a film festival focussing on anti-corruption that will take place from 20-25 October in Copenhagen, alongside the 18th IACC. News from Transparency International Right to information: knowledge is power The right to information is vital for preventing corruption. To mark International Right to Know Day, we are launching a report on eleven Asia Pacific countries and calling on their governments to make right to information a priority. Paradise lost among Maldives dodgy land deals An ethical cloud has been cast over the blue skies and white sand beaches of the Maldives - the idyllic tropical holiday destination is ensnared in a scandal in which at least US$79 million have been embezzled. It implicates local businessmen, international hotel operators, and even leads all the way to outgoing President Abdulla Yameen. New on Voices for Transparency How a simple information request is a powerful social accountability tool: lessons from Pakistan and the Maldives 117 countries have right to information laws in place. Still, a culture of secrecy prevails the public sector in many of these countries. Find out how citizens and civil society in Pakistan and the Maldives use the right to information to hold governments accountable. Are you using SDGs to fight corruption? Seven things that civil society organisations can do This week marks the third anniversary of the Sustainable Development Goals. How can those implementing them make sure that corruption is not standing in their way? Here are seven things that civil society organisations can do. How to create powerful citizens: students learn how to demand transparency in public procurement What happens when you take a group of young people and give them a taste of citizen power? Short answer: a lot. Corruption in the news Latest stories Global: Danske probes spread as Swiss look at billions in transfers Bloomberg (27 September) Brazil / USA: Brazil's Petrobras to pay $853 million U.S. fine in Car Wash probe Reuters (27 September) Slovakia: Three people charged with Slovak journalist Kuciak's murder Reuters (28 September) Help put an end to corruption. Support our work.

" Do you know all 17 SDGs? " Sustainable Development Goals

Top 500 Asset Owners Disclosure project on Climate related risks and opportunities - shows Public Sector related pension and superannuation funds are up there with the best and or lead the debate .

A report complied by AODP  " The AODP Global Climate Index is the world standard for assessing the world’s largest investors on climate-risk management. The Index has been produced by assessing the world’s largest 500 asset owners including pension funds, sovereign wealth funds, insurance companies, foundations and endowments. Funds are rated from AAA through to D grade, with an extra X category being added for those funds at the bottom that appear to be doing absolutely nothing to manage this critical risk."  Quote from AODP web site. 

The full list of the top 500 Assets Owners , measured against the above quoted paragraph , which shows the strong action by Public Sector and PSI Affiliates Unions Industry Pension/Superannuation funds, can be located at https://aodproject.net/reports/

"The Asset Owners Disclosure Project (AODP), part of responsible investment organisation ShareAction, rates and ranks the world’s largest institutional investors and assesses their response to climate-related risks and opportunities. The ratings are made public, providing much-needed transparency for beneficiaries, clients, investors and stakeholders, and emphasised through advocacy and direct engagement to drive change. As the only comprehensive, climate-specific, independent, non-self-selective assessment, AODP prides itself on being the world’s benchmark of climate leadership in the investment system." Quote from AODP web site. 

Back ground at 
https://aodproject.net/leading-asset-owners-reveal-how-best-practice-on-tackling-climate-related-investment-risks-is-achievable-for-all-peers/

The full report can be located at https://aodproject.net/wp-content/uploads/2017/04/AODP-GLOBAL-INDEX-REPORT-2017_FINAL_VIEW.pdf

Investing Superannuation (pension funds) for the Public Good - " Ideal investments for superannuation funds and borrowing vehicles for local and state governments to fund public assets without controversial privatisation."

https://drive.google.com/open?id=1E3_zIOXi-In1hncUS4Q5xw5F3mtZhQba 

The McKell Institute (based in Australia) has prepared a paper entitled 
Investing Superannuation for the Public Good: Creating new markets to benefit members and fund necessary investments by Professor Anthony Asher (Associate Professor at the UNSW Business School) and Esther Rajadurai of the McKell Institute.

The report was sought to look at the increasing role and opportunities that Superannuation Funds can play in the development of infrastructure , including Public Sector Owned and Operated.   

Report Conclusion - (extract from report ) 

 " Over the past few decades, there has been a significant shift in attitudes towards investments and superannuation. Ethical investing has become part of the mainstream and increasingly, members of super funds are determined to make sure that their super funds are invested in ethical, social and responsible companies and funds. Trustees have increasingly made more explicit commitments to monitoring the risks posed by ESG issues and making positive impacts in their choice of investments. These fulfill their fiduciary obligations to seek the best financial interests of their beneficiaries and are by no means restricted by the Sole Purpose Test.

Infrastructure is already beginning to take its place as a separate asset class, and trustees can use their significant assets more intentionally, in assisting governments fund public infrastructure.
This report suggests that Indexed Annuity Bonds can be adapted to provide lower risk inflation linkages for borrowers and longevity protection for investors. As such, they would be ideal investments for superannuation funds and borrowing vehicles for local and state governments to fund public assets without controversial privatisation.

The call is for trustees and governments to collaborate to develop a market in these instruments that benefits superannuation members and encourages the development of appropriate infrastructure.
Global capital is a dominant force in the world today and the capital invested and held by super funds can be used for the good of the nation. Through proper stewardship of the assets and government collaboration, super funds can be managed to create sustainable and long term value for their members and the broader community " 

The report was prepared due to sponsorship from UNIONS NSW, and is a project pursed by The Unions NSW Superannuation Committee , which includes Australian PSI Affiliates based in the State of New South Wales (NSW) 

Friedrich-Ebert-Stiftung (FES) - Nobel Laureate Joseph Stiglitz & Damon Silvers (AFL-CIO) Talk "Bargaining for the Common Good in the World of Global Finance"

https://www.fesny.org/article/bargaining-for-the-common-good-in-the-world-of-global-finance/

" Debates abound over regulatory oversight of large banks and the best methods of safeguarding consumers and economies. Yet little attention has been paid to the role the nearly eight million commercial bank employees in the global banking sector might play.

On April 4-5 at the World Presidium and Steering Group of Finance Sector Worker Organizations in São Paulo, Brazil, UNI-Finance launched a global campaign to make their affiliates aware of the importance of workers, unions, and collective bargaining for making the financial sector more sustainable and inclusive at both national and global levels. Instead of relying on legal and supervisory systems to take on the entire task of financial regulation “from above”, this campaign is about building support among unions, interest among academics and awareness in international financial and regulatory bodies, for how collective action by finance workers might change the culture of banking and finance “from below”.

This 1-day strategy session – which took place on the sidelines of the United Nations’ (UN) annual High-level Political Forum (HLPF) in which UN Member States review progress toward achieving the Sustainable Development Goals (SDGs) that make up the Agenda 2030, the UN’s first ever universal development agenda – was co-organized with partners from AFL-CIO, the Kalmanovitz Initiative for Labor and the Working Poor at Georgetown University and the Rutgers University School of Management and Labor Relations. It brought experts in financial regulation and corporate governance from academia and the UN system together with representatives from trade unions and select civil society organizations.

The objective of the meeting was to create space for a discussion in which trade unions and their allies can be informed by UN experts and share analysis and experiences of regulatory and UN-based corporate governance initiatives, such as the UN Global Compact, in order to best prepare their campaign for upcoming multilateral dialogues."

The meeting's keynote session with Nobel Laureate Joseph E. Stiglitz & Damon A. Silvers was streamed live on Facebook. WATCH HERE

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European Union - Trade with Australia and New Zealand: negotiating directives made public

http://dsms.consilium.europa.eu/952/Actions/Newsletter.aspx?messageid=23089&customerid=16831&password=enc_3232314445344341_enc

The European Union (EU) has now released its scope for a Trade Agreement with Australia and New Zealand . This long anticipated list ' Mandates " provided by the European Commission , will be important for all three parties . Along with Australia and New Z'ealnd's place in the Asia Pacific Region. 

The EU population is over 510 million , Australia 24.7 million plus , New Zealand 4.7 million plus, the agreement represents an important step for Australia and NZ on top on agreements with USA , China ,  - but on this occasion Labour standards etc are higher from the EU end.

List of Australian FTAs  http://dfat.gov.au/trade/agreements/Pages/trade-agreements.aspx 
List of New Zealand FTAs  https://www.mfat.govt.nz/en/trade/free-trade-agreements/free-trade-agreements-in-force/ 

We can of course expect some stand out issues such as motor vehicles, (Australia and New Zealand are no longer main stream production car manufactures) , Investments and Finance (with Australia's large industry pension/superannuation schemes) . Industrial and Trade Union Rights for Europeans are at higher standard, including Works Council, Social partners etc

Of particular interest is the mention of -
" The Agreement should ensure that all levels of government, including sub-central authorities and relevant entities, effectively comply with the provisions of the Agreement". page 2
" The Agreement should also contribute to the promotion of sustainable development and broader EU values, inter alia by including trade related provisions on labour and environment, including through corporate social responsibility, responsible governance of tenure of land, fisheries and forests, responsible agriculture investment and transparency." page 3
" . The Agreement should ensure that the parties should not encourage trade or foreign direct investment by lowering domestic environmental, labour or occupational health and safety legislation, and standards or by relaxing core labour standards or laws aimed at protecting and promoting cultural diversity". page 3.

Greg McLean

PRESS

Council of the European Union    25/6/2018 | PRESS RELEASE Trade with Australia and New Zealand: negotiating directives made public On 25 June, the Council decided to publish the mandates given to the Commission on 22 May to negotiate trade agreements with Australia and New Zealand. Trade agreements with both countries would aim primarily at further reducing existing barriers to trade, removing custom duties on goods, and giving better access for services and public procurement in Australia and New Zealand. The sectors likely to benefit the most from the FTAs are motor equipment, machinery, chemicals, processed foods and services. The negotiating directives are particularly concerned to protect vulnerable sectors such as agriculture by maximising the benefits of market opening without harming local producers. The mandates do not envisage full liberalisation of trade in agricultural products, which are foreseen as benefiting from specific treatment. The mandates also provide for a comprehensive and modern framework, based on the highest standards of labour, safety, environment, climate and consumer protection. The Commission officially launched the trade negotiations with Australia and New Zealand, respectively on 18 and 21 June. A first round of talks is expected to take place in the course of July. Negotiating directives for FTA with Australia Negotiating directives for FTA with New Zealand Visit the website Press contacts Maria Tomasik +32 2 281 24 63 / +32 470 88 23 83

SOMO - Sustainable finance in new EU legislation: focus on climate investment - paper by SOMO includes ESG risks in investment decisions

https://www.somo.nl/sustainable-finance-new-eu-legislation-focus-climate-investment/

 "The EU wants private capital to contribute to the commitments made at the Paris Climate Summit and to a certain extent, the UN Sustainability Goals.The paper written by SOMO researcher Myriam Vander Stichtele explores recent EU-legislation that should support this policy, “Sustainable finance in new EU legislation: focus on climate investment”. "

 "On the 24^th of May 2018, the European Commission has proposed a package of three laws that should encourage the financing of activities that tackle climate change, and to a lesser degree the financing of activities that should boost a sustainable economy. It stipulates measures to avoid greenwashing, i.e. abusive claims to be ‘green’ investments, and to integrate environmental, social and governance (ESG) risks in investment decisions. While this is a first step towards sustainable finance, these measures will not compel a massive shift in financial flows, nor comprehensively integrate sustainability in the financial sector "

Read the full report at
https://www.somo.nl/wp-content/uploads/2018/06/Sustainable-finance-in-new-EU-legislation.pdf

Australian first stewardship code for asset owners unveiled - Superannuation and Pension scheme matters

The Australian Asset Owner Stewardship Code was developed by the Australian Council of Superannuation Investors (ACSI) in consultation with its members and other stakeholders. The Code aims to increase the transparency and accountability of stewardship activities in Australia. Stewardship activities include exercising voting rights, company engagement, monitoring asset managers and financial system advocacy.

ACSI CEO Louise Davidson said, “There is a growing desire for information about how asset owners manage the money entrusted to them. The Code raises the bar on signatories to proactively manage and disclose their stewardship activities. Beneficiaries and other stakeholders will find it easier to understand and assess the focus that asset owners have on good stewardship”.

Stewardship codes exist in many markets in the world, including the United Kingdom, United States, Japan, Hong Kong and South Africa. However, this is the first stewardship code to focus exclusively on the activities of Australian asset owners. The Code is open to all asset owners (including super funds, endowments and sovereign wealth funds), not just ACSI members.

The Code sets out six principles which signatories must commit to on an ‘if not, why not’ basis:
1. Publicly disclose how they approach their stewardship responsibilities.
2. Publicly disclose their policy for voting at company meetings and voting activity.
3. Engage with companies either directly, indirectly (for example, via collective action or third-party providers) or both.
4. Monitor asset managers’ stewardship activities.
5. Encourage better alignment of the operation of the financial system and regulatory policy with the financial interests of long-term investors.
6. Report to beneficiaries about their stewardship activities.

Signatories will be required to publish a Stewardship Statement which describes how they apply these principles. ACSI will maintain a list of signatories on our website, including a link to their Stewardship Statement and contact details.

Davidson is encouraging all asset owners to demonstrate their commitment to good stewardship by becoming signatories. She said “Australian asset owners have a long history of engaging with companies and voting their shareholdings to protect and enhance long-term value for their beneficiaries. “Signing up is an opportunity for asset owners to demonstrate that their intentions are backed by meaningful action. This is a strong basis from which to build trust and to set the tone for stewardship in Australia.”

Professor Ian Ramsay from the University of Melbourne will launch the Code in front of more than 250 conference delegates, including representatives from investors, government, academia and media. Ramsay said, “I would like to congratulate ACSI on this important initiative. Australian asset owners play a fundamental role in our financial markets and it’s good to see them take the lead in setting best practice standards for the disclosure and management of stewardship activities.”

Download the Australian Asset Owner Stewardship Code and Frequently Asked Questions

https://www.acsi.org.au/images/stories/ACSIDocuments/Stewardship_code/AAOSC_-_Final.pdf

Above media release from ACSI 

May News letter from Committee for Workers Capital

IN THE MAY 2018 NEWSLETTER News from the Secretariat The CWC 2018 Conference Shareholder Activism Working Group updates and key campaigns News and notes from CWC participants IndustriALL: Glencore ITF: ICTSI LiUNA: Wells Fargo and Hudson Yard Australia: ACTU capital strategies updates Canada: Modern slavery and child labour legislation United Kingdom: UK Stewardship Code, GKN bid and hedge funds United States: Investor letter to Mondelēz and Amazon shareholder resolution NEWS FROM THE CWC SECRETARIAT CWC Conference Registration opens next week for the 2018 Workers' Capital conference, to be held in San Francisco on September 10-11, 2018. We will circulate an announcement with the registration link. This year, the conference will include a leadership course for trustees in addition to workshops and panels for union organizers and labour-nominated trustees. Organized by the CWC, the trustee leadership course is a collaboration between SHARE and the Harvard Kennedy School Trustee Leadership Forum. The CWC Conference will precede the PRI in Person, a UC Berkeley Labor Centre conference on just transition and the Global Climate Action Summit.  Shareholder Activism Working Group Proxy Advisories CWC participants urge funds to vote in support of following shareholder resolutions: Amazon.com: Item 4: Shareholder Proposal Regarding Diverse Board Candidates (May 30, 2018)  Hosts Hotels and Resorts: Item 3: Annual Sustainability Report (May 17, 2018) UNITE HERE Proxy Alert Mondelēz International, Inc.: Item 5: Report on Plant Closures (May 16, 2018) XPO Logistics: Item 5: Annual Sustainability Report (May 17, 2018) Teamsters and CWC materials Campaigns Portal The Shareholder Activism Working Group is inviting trade unions across the world to request our support in building shareholder activism and/or capital stewardship elements to their campaigns.The shareholder activism campaigns portal is now online. CWC participants can access the portal using the general website login information.  Workers' Capital in Action We are profiling cases where the responsible investment of workers’ retirement savings helped improve or remedy violations of workers’ fundamental rights. Read our first profile, featuring the Network of Trustees for Responsible Investment (RAIR) and IRCANTEC in France working with UNITE HERE. Please feel free to contact uswith other examples you would like to share.  NEWS AND NOTES FROM CWC PARTICIPANTS IndustriALL The CWC hosted IndustriALL's pre-AGM briefing webinar forGlencore stakeholders. The webinar provided an overview of Glencore's environmental, social and governance (ESG)-related risks ahead of its May 2 2018 AGM. Webinar  CWC investor brief IndustriALL brief International Transport Workers Federation (ITF) The ITF welcomed a partial victory after the International Container Terminal Services, Inc.(ICTSI) signed a new agreement with PNG dock workers at Lae and Port Moresby. The ITF had issued a letter to shareholders recommending a vote against ICTSI directors at the company’s AGM on April 19, 2018.    LiUNA LiUNA is has produced a draft letter for funds who are clients ofWells Fargo, one of the lead arrangers for the $1.5 Billion construction loan on 50 Hudson Yards of Mitsui Fudosan. There have been serious workers' rights issues at this site. If your fund is a Wells Fargo client, please contact Jennifer O'Dell to view the letter.  Background: NY Daily News article on construction workers and sexual harassment at Hudson Yards  Australia The ACTU has submitted an update on its activities to CWC participants. As described in the full update, which is available here, the ACTU has been active on several fronts: engaging with superannuation funds with exposure to XPO Logistics through Orbis Investment Management and/or Allen Grey, ongoing capital stewardship organizing for Aerocare workers, divestment from all aspects of the asbestos supply chain, responding to capital strategies requests concerning Partners Group and supporting theSEC mandatory disclosure of payments to governments by resource extraction companies. Canada SHARE, the Church Investors Group (UK), the Interfaith Center on Corporate Responsibility (ICCR, US) and the Church of Sweden (Sweden) invite you to sign on to an investor statement urging theGovernment of Canada to enact legislation to help investors and Canadian companies identify and address modern slavery and child labour in supply chains through effective due diligence and disclosure. The deadline for signatures is May 18, 2018. For more information: dgreig@share.ca  United Kingdom Research by the International Transport Workers Federation has revealed numerous hedge funds using identical text to explain non-compliance with the UK’s Stewardship Code. The ITF has filed a complaint with the FCA and also submitted its findings to the Financial Reporting Council, which has responsibility for the Stewardship Code. Read more here.  Unite the Union has released a statement on the GKN bid. During the GKN bid, hedge funds were estimated to have influence over around 25% of the company’s shares. Many of them had built their stake using derivatives, meaning that they were able to influence the outcome of the bid without holding shares. The narrow margin of Melrose’s victory shows that hedge funds were critical to the success of the bid, despite having a very short-term focus. A number of them were merger arbitrage funds that were shorting Melrose whilst simultaneously advocating that GKN shareholders accepted its bid.    United States The AFL-CIO invites you to sign an investor letter to Mondelēz International, whose offshoring of jobs has tarnished the company’s iconic Nabisco brands such as the Oreo cookie. Mondelēz moved 600 Nabisco factory workers’ jobs from Chicago, Illinois to Salinas, Mexico in 2016. The letter urges Mondelēz to bargain in good faith with its workforce, raise up wages and productivity on both sides of  the border, and ensure that rights are respected and protected.  Investors can co-sign the letter by contacting brees@aflcio.org or  filling out this Google form by Tuesday, May 15. The letter will be delivered on May 16th at the company's shareholder meeti.   The SEIU Master Trust and the CtW Investment Group have jointly filed a proposal calling on Amazon.com’s board of directors to implement a “Rooney Rule”: requiring that the initial list of candidates from which new management-supported director nominees are chosen should include (but need not be limited to) qualified women and minority candidates. Read more here.  With over 400 participants from 25 different countries, the Committee on Workers' Capital is an international labour union network for dialogue and action on the responsible investment of workers capital. JOIN THE CWC SUBSCRIBE TO THIS NEWSLETTER QUICK LINKS Investor statement on modern slavery and child labour in supply chains legislation in Canada: SHARE invites you to sign by May 18, 2018 Investor statement to Mondelēz International on human capital management practices: The AFL-CIO invites you to sign byMay 15, 2018. . IMPORTANT READS AFL-CIO Key Votes Survey: The AFL-CIO has released an update of votes consistent with its proxy voting guidelines. Unions look for jobs to go with their infrastructure investments: North America’s Building Trades Unions are making a direct connection between union jobs and pension assets. The Workforce Disclosure Initiative (WDI) Pilot Year Report:  Summarises the findings from the pilot year survey, which was conducted by ShareAction in partnership with Oxfam and SHARE. Financial News: Hedge funds accused of non-compliance with FCA stewardship rules. EVENTS The ICCR is launching the Investor Alliance for Human Rights on May 24 in New York City. To attend the launch, sign up here. To become a member of the Alliance, sign up here. For more information, please contact Paloma Munoz Quick: pmunozquick@iccr.org. The Trustee Leadership Forum for Retirement Security (TLF) will be held at Harvard (US) onJune 11-12.   Like this newsletter? Please feel free to share with your contacts Submit your news for our August 2018 newsletter

Workers Capital News is a news-forwarding service for CWC members. These news items do not necessarily reflect the views and policies of the CWC or its members. The CWC is the joint ITUC | Global Union Federations | TUAC Committee on Workers’ CapitaL