19 June 2007
SOCIAL JUSTICE IN THE BOARDROOM
Many Religious Congregations and faith-based organizations rely on financial investments to support their various ministries. Christian Brothers Investment Services (CBIS)was founded in 1981 by the Brothers of the Christian Schools, widely known as the De La Salle Christian Brothers (but known as the Christian Brothers in North America as opposed to the Irish Christian Brothers who were founded by Edmund Rice), to provide trusted socially responsible investment management services exclusively to Catholic organizations.
Earlier this year CBIS along with several other faith-based investors succeeded in sponsoring a resolution calling on the Newmont Mining Corporation, one of the world’s leading mining companies, to produce a report addressing community based opposition to its mining operations around the world.
Specifically the resolution notes the opposition that has been voiced in regard to mining waste disposal practices, the potential for water pollution, development on sacred sites, and community resettlement especially in Peru, Ghana and Indonesia.
The resolution further provides for a global review and evaluation of the company’s policies and practices relating to the issues of concern and a requires a report of the steps taken to reduce such opposition to be made available to shareholders prior to the 2008 annual meeting.
The acceptance of the resolution is seen as a major breakthrough towards ensuring the social responsibility in the activities of mining companies and demonstrates that it is possible to actively work for social justice in many different ways at many different levels.
Earlier this year CBIS along with several other faith-based investors succeeded in sponsoring a resolution calling on the Newmont Mining Corporation, one of the world’s leading mining companies, to produce a report addressing community based opposition to its mining operations around the world.
Specifically the resolution notes the opposition that has been voiced in regard to mining waste disposal practices, the potential for water pollution, development on sacred sites, and community resettlement especially in Peru, Ghana and Indonesia.
The resolution further provides for a global review and evaluation of the company’s policies and practices relating to the issues of concern and a requires a report of the steps taken to reduce such opposition to be made available to shareholders prior to the 2008 annual meeting.
The acceptance of the resolution is seen as a major breakthrough towards ensuring the social responsibility in the activities of mining companies and demonstrates that it is possible to actively work for social justice in many different ways at many different levels.
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