During the last season, DOW, an American multinational chemical corporation with 54,000 employees in 160 countries, agreed to commission a third-party racial equity audit. DOW agreed to this audit after its dialogue with four shareholders, including SSND Cooperative Investment Fund (CIF) and an IASJ staff member. A law firm, experienced in working with other leading companies on civil rights and equity audits, will assess how Dow’s US operations, products, policies and services support racial equity.
Corporate Social Responsibility
On July 5 thirty-five religious organizations from six countries, with more than $1.25 billion in combined assets under management, have announced their divestment from fossil fuel companies. Among them are 19 Catholics including five dioceses in Ireland and two in Canada.
Investing in a company, owning shares in the company, means you are part owners. So, you have an opportunity and responsibility to recommend/demand changes in corporate policies as well as introduce new policies/practices at shareholder meetings.
Learn more about SSNDs’ involvement in corporate investing and their involvement in working for Social Justice. Sister Ethel Howely, SSND, gives a wonderful testimonial starting at minute 13:15 in this video.
These days, there is much discussion about whether divesting the ownership of stocks in a company with troubling practices is an effective tool in changing corporate culture and practices. Divestment has had success in some situations. For example, divestment helped to dismantle apartheid in South Africa, but it is often the case, that investment in corporations can be a more effective strategy. How can this be?
As shareholders and in collaboration with other faith-based groups, SSNDs call the world's most powerful companies to address their impacts on people and on our planet.
Divesting from the Chevron Corporation, an American multinational energy provider, is one initiative taken by the SSND Cooperative Investment Fund (CIF) in keeping with its sustainable investment strategy for the environment and the care of our common home.