A key component of Mercy Investment Services' social responsibility component is shareholder advocacy, which engages companies on issues of concern. In order to focus our efforts on the areas most important to the Sisters of Mercy, the Social Responsibility Committee develops and approves a shareholder advocacy plan for the organization, identifying issues to address and strategies for effective engagement in that area.
The development is a three-step process. In June 2010, the committee reviewed overviews of 21 topic areas, consistent with the Critical Concerns of the Sisters of Mercy. During priority-setting, committee members considered the importance of the area and how the organization can impact the area through our role as a shareholder. Other considerations included if the issue should be handled through public policy and the role of collaboration with the Institute Justice Team of the Sisters of Mercy.In August 2010, the committee approved the following priorities. A plan detailing strategies and tactics for each area will be finalized by November 2010 for engagement during the 2011 proxy season.
Protection of human rights
Goal: Promote corporate policies and practices that ensure basic human rights for all peoples and deter exploitation, with a special focus on women and children, related to forced labor, slavery and sexual exploitation.
Goal: Promote corporate policies and practices that ensure compliance with recognized human rights standards, such as the Universal Declaration of Human Rights and the International Labor Organization’s Core Labor Standards, with regard to worker concerns in the company’s workplace and supply chain.
Goal: Promote corporate policies and practices that protect the human rights of immigrants based on recognized human rights standards or that prevent migration of persons from countries due to unfair labor practices or treatment of persons in company supply chains.
Goal: Promote transparency and accountability of defense contractors in their compliance with human rights and environmental standards in their operations and supply chain.
Healthy persons and communities
Goal: In support of the human right to health, promote fair and transparent corporate policies and practices that are designed to achieve access to quality, effective and affordable health care for all persons living in the U.S.
- Global access to medicines in developing countries
Goal: In support of the human right to health, promote corporate policies and practices of global pharmaceutical companies to enhance access to drugs to treat serious diseases in developing countries.
- Health and environmental impacts of chemicals and technologies
Goal: In support of the human right to health, encourage corporate policies and practices that chemicals and technologies used to manufacture products for personal use ensure long-term safety of the consumer and environment.
Environmental sustainability
- Water access and sustainability
Goal: Promote corporate policies and practices that respect the human right to water and the responsible and effective use and discharge of water (“water sustainability”) by companies in their business operations.
- Climate change and the environmental impact of company operations in various sectors
Goal: Promote corporate policies and practices designed to improve the environmental impacts of company operations and products in industry sectors that are significant contributors to greenhouse gas emissions.
Goal: Promote company practices and policies designed to promote sustainable food production that is safe for humans and the environment and accessible to all populations.
- Extractive industry practices and technologies
Goal: Promote company practices and policies designed to be accountable and ensure transparency about the extractive industries, including mining processes, chemicals, water use/contamination and safety for persons, communities and environment.
Financial sector practices
Goal: Promote practices and policies of financial companies that protect domestic and international financial systems and enhance consumer access to fair and equitable lending and capital.
Corporate accountabilities
- Responsible governance practices including inclusiveness, just executive compensation practices
Goal: Promote transparent and understandable policies and practices on executive compensation and board diversity.
- Political contributions policies, practices and transparency
Goal: Promote transparent and understandable policies and practices on political and trade association contributions and financial support.
