By Colleen Kammer, JPIC Director
The Investor Advocates For Social Justice (IASJ), of which SSND is an affiliate, and United Church Funds (UCF) reached an agreement with JPMorgan Chase Bank in advancing Indigenous Peoples rights in the financial sector.
The School Sisters of Notre Dame Collective Investment Fund (CIF) was one of the co-filers of the shareholder resolution about this topic. The bank has agreed to disclosures in its shareholder proxy supplement concerning Free, Prior, and Informed Consent (FPIC) - a fundamental right of Indigenous Peoples, recognized in international human rights law, that requires their consent before any project or activity that may affect their lands, territories, and resources can proceed.
JPMorgan will also consider internationally recognized principles when assessing risks to Indigenous Peoples. Matthew Illian, UCF’s Director of Responsible Investing, said: “Investors are increasingly aware that failing to consider the rights of Indigenous Peoples can expose companies to serious financial, legal, and reputational risks. We’re encouraged by JPMorgan Chase’s commitment to greater engagement on this issue, and we see this agreement as an important step toward more responsible, resilient investment practices that benefit all stakeholders.”
Similar proposals at two other banks, Wells Fargo and Citigroup, were filed this year and are on their proxy statements. Shareholders will vote on them at the banks’ upcoming annual meetings.
Post Type:
