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Suite 1200, 1166 Alberni Street, Vancouver, BC V6E 3Z3 Canada T 604 408.2456 F 604 408.2525 Responsible Sourcing Social Investment Organization | June.

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Presentation on theme: "Suite 1200, 1166 Alberni Street, Vancouver, BC V6E 3Z3 Canada T 604 408.2456 F 604 408.2525 Responsible Sourcing Social Investment Organization | June."— Presentation transcript:

1 Suite 1200, 1166 Alberni Street, Vancouver, BC V6E 3Z3 Canada T F Responsible Sourcing Social Investment Organization | June 18, 2013

2 Suite 1200, 1166 Alberni Street, Vancouver, BC V6E 3Z3 Canada T F About SHARE  National non-profit based in Vancouver  Mission is to encourage and support responsible investment by institutional investors  Research and educational programs, including annual Proxy Vote Survey  Proxy voting and shareholder engagement services to pension plans, foundations, mutual funds, religious institutions, asset managers.

3 Suite 1200, 1166 Alberni Street, Vancouver, BC V6E 3Z3 Canada T F THE CANADIAN RETIREMENT SYSTEM Complex supply chains For goods and services  Well established pattern in manufacturing, services  Purchaser bargaining power may be limited  Information asymmetry (customer-retailer, retailer-mfgr)  Sudden events can shift public perception, reputation  Stakeholders can be workers (Rana Plaza factory collapse) and local communities (Conflict minerals, Western Sahara)

4 Suite 1200, 1166 Alberni Street, Vancouver, BC V6E 3Z3 Canada T F THE CANADIAN RETIREMENT SYSTEM Supply chain risks for investors  Risks that portfolio companies will decline in value for reasons linked to supply chain (legal, reputational, operational)  Expectation that pension plans as minority shareholders will act in a manner consistent with international standards and norms  OECD Guidelines for Multi-National Enterprises: “Avoid causing or contributing to adverse impacts on matters covered by the Guidelines through their own activities includes their activities in the supply chain.”

5 Suite 1200, 1166 Alberni Street, Vancouver, BC V6E 3Z3 Canada T F THE CANADIAN RETIREMENT SYSTEM What should investors expect?  Clear and transparent policies and practices  Implementation, including embedding performance requirements in contracts  Accountability for outcomes

6 Suite 1200, 1166 Alberni Street, Vancouver, BC V6E 3Z3 Canada T F THE CANADIAN RETIREMENT SYSTEM What are investors looking for?  Alignment with UDHR, ILO core conventions  Compliance with local laws is not enough  Recognize structural issues (e.g. freedom of association)  How goods and services are procured affects the outcome (timing of orders, price)  Supply chain disclosure  Robust monitoring/certification

7 Suite 1200, 1166 Alberni Street, Vancouver, BC V6E 3Z3 Canada T F THE CANADIAN RETIREMENT SYSTEM Examples of investor action  Canadian Investor Statement on Bangladesh  Investing in Decent Work case studies on investor action on Forced Labour (www.workerscapital.org/priorities/shareholder- activism/campaigns/forced-labour/)www.workerscapital.org/priorities/shareholder- activism/campaigns/forced-labour/

8 Suite 1200, 1166 Alberni Street, Vancouver, BC V6E 3Z3 Canada T F THE CANADIAN RETIREMENT SYSTEM Forced labour International Labour Organization definition  “All work or service which is exacted from any person under the menace of any penalty and for which the said person has not offered himself voluntarily.”  Forced labour takes many forms including:  Slavery  Bonded labour  Forced overtime  Control of travel documents (passports)

9 Suite 1200, 1166 Alberni Street, Vancouver, BC V6E 3Z3 Canada T F


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