Company performance at risk from ignoring human rights, say investors

first_img“Benchmarks, civil society and investor pressure is helping to create a ‘race to the top’ in human rights reporting and commitment to transparency,” it said. Macy’s was among the companies criticised in CHRB’s reportCHRB said its conclusions were backed by consultancies, such as Freshfields Bruckhaus Deringer and ERM, who reported increased demand for human rights support in the wake of its pilot benchmark report in 2017.It added that investors were discussing how poor company human rights performance could result in exclusions from specific funds.According to CHRB, 52 companies issued a dedicated human rights report last year, while over 5,000 firms have reported on their public commitments to avoid modern slavery in their supply chain.Steve Waygood, the CHRB’s chairman and chief responsible investment officer at Aviva Investors, said that “we should all be concerned by the lack of engagement from around a quarter of companies, particularly as they are in priority sectors concerning serious human rights impacts”.According to the CHRB, the 28 companies that have shunned engagement had not responded to the investor coalition, the CHRB’s invitations, consultations or communications.They had not taken part in 2018 engagements either, it said.CHRB said its members would push for greater corporate transparency and engagement this year. It also committed to expanding its assessment into the technology sector, with a pilot benchmark planned for 2019.CHRB was founded in 2013. It is backed by a €5trn investor coalition that includes APG Asset Management, Nordea, Robeco and the Church of Sweden, and is supported by the UK, Dutch and Swiss governments.Several major institutional investors operate public ‘blacklists’, including Sweden’s AP7 and the Norwegian Government Pension Fund Global.AP7 has blacklisted 27 companies explicitly due to human rights issues, according to its website, while eight have been banned by Norway with three more under observation. Companies that ignore human rights issues risk restricted access to capital due to reputational damage and regulatory backlash, according to the Corporate Human Rights Benchmark (CHRB). In a new report, the $5trn investor collaboration named 28 companies including Kraft Heinz, Macy’s, Hermes and Prada had not “meaningfully engaged” with investors regarding issues such as modern-day slavery, worker safety and freedom of association.In contrast, it named Tesco, Nestlé, Gap, Freeport-McRohan and Mondelez as companies reviewing and positively evolving their programmes and policies on human rights.CHRB – a collaboration of large investors and other groups, including APG and Nordea – found that apparel, agriculture and mining companies were committed to addressing gaps in human rights management and improve performance.last_img read more

Former FIFA vice-president Jack Warner loses fight against U.S. extradition

first_imgPORT OF SPAIN, Trinidad (CMC) – Former politician and FIFA vice-president Austin ‘Jack’ Warner on Wednesday lost his lawsuit challenging his extradition to the United States.Warner is wanted by authorities to answer charges of fraud arising out of a Fédération Internationale de Football Association (FIFA) bribery scandal.Delivering a 50-page ruling in the High Court on Wednesday, Justice James Aboud dismissed the claim for judicial review brought by Warner.That lawsuit challenged the process used by the Office of the Attorney General in signing off on the U.S. Government’s request for his extradition in May 2015.It now means that the extradition proceedings in the Port-of-Spain Magistrate’s Court will resume.That matter was on hold while Warner’s challenge was being heard.There was agreement, however, for the stay on the extradition proceedings to remain for 28 days to give Warner time to consider whether he wants to appeal the decision.Indicted by U.S. authorities over allegations of racketeering, wire fraud and money-laundering conspiracies spanning 24 years, Warner is charged with 12 offences related to racketeering, corruption and money-laundering allegedly committed in the jurisdiction of the United States and Trinidad and Tobago, dating as far back as 1990.Warner claims the case against him is politically motivated and accuses the United States of seeking revenge because it lost to Qatar in its bid to host the 2022 World Cup.last_img read more

IRFU announces bid for women’s World Cup

first_imgThe stadia include University College Dublin before moving to Belfast for semi-finals and finals at Queens University Sport and the newly developed Kingspan Stadium.Last year the women’s team reached the semi finals in France before they were beaten by England, however they earned  a measure of revenge for that loss last Friday beating England in the Six Nations. In other news the Irish men’s team have moved back up to third in the World rankings following yesterday’s 19 points to 9 Six Nations win against England at the Aviva.last_img

Messi’s ‘bomb’ falls in the middle of the summit between Thebes and the clubs

first_imgLaLiga, for now, has set out its vision of the moment the competition is going through. He has also reported all the possible scenarios that are being considered at this time to restart the championship, in which there is already less optimism than a week ago and in which it is assumed that the League will end playing and that there will be football this summer , maybe without an audience, taking advantage of the transfer of the Euro Cup to 2021. Thebes has reported on his last meeting with AFE, in which it was proposed to play next Christmas in the event that this season ends after schedule and if it is necessary to delay the start of the next as already believed. In addition, it has recurred again, as it did last week, when the employers will support, help and coordinate all the ERTE requests that the clubs want to undertake. Regarding the drop in salaries of its professional staff, the general feeling is that club-by-club negotiation with your players is preferable rather than a general rule imposed from above, since there are entities that belong to the members and others do not, each with its peculiarities, and also each club-player contract is a world. On the morning of this Monday an important telematic meeting is taking place between Javier Tebas and all the presidents of the 42 professional clubs in Spanish football. The president of LaLiga has met from 11:00 a.m. to more than 2:00 p.m. (an hour and a half more than expected) with the leaders and CEOs of Primera and, since then, has been doing so with those of Primera. In the middle of this summit the Messi bomb has fallen, which again shakes Barça and can set the pace for the rest of the clubs.The objective of the video conference appointment between LaLiga and the clubs is to analyze the current situation of economic crisis, following the coronavirus pandemic, in order to find short-term solutions to alleviate the effects that are already being noticed in the accounts. Thebes will later inform David Aganzo (AFE), at 6:00 pm, in the third face-to-face in just seven days between the two leaders.last_img read more