"Calling for greater corporate responsibility as a shareholder is not only financially prudent, but it allows us to pursue our values as a labour union as well." — Stephanie Smith, BCGEU President
Vancouver (25 April 2018) — The B.C. Government and Service Employees' Union (BCGEU/NUPGE) is leading the way in the labour movement when it comes to responsible investing. Ahead of the 2015 global oil price crash, the union divested its strike fund and general reserves from fossil fuel equities and not only preserved, but increased the value of its holdings. Now, the BCGEU/NUPGE has partnered with the non-profit organization SumOfUs to advocate for greater corporate responsibility among companies in its portfolio to further improve the value and sustainability of those investments.
BCGEU/NUPGE pushes for greater fairness in corporate governance, increased scrutiny on human rights, labour and environmental rights
"As a union, we need to make sure that funds our members count on, such as the strike fund, are financially healthy and this requires careful and responsible investment decisions," says Stephanie Smith, BCGEU President. "Calling for greater corporate responsibility as a shareholder is not only financially prudent, but it allows us to pursue our values as a labour union as well."
On behalf of the BCGEU/NUPGE, SumOfUs will file several proposals over the summer for a vote by shareholders at annual general meetings of Canadian companies. These proposals will call for greater fairness in corporate governance and increased scrutiny around human rights and labour practices as well as of the impacts of deforestation.
SumOfUs is a global non-profit organization that engages an online community of 14 million people to hold big corporations accountable on issues such as climate change, workers' rights, discrimination, human rights, animal rights and corruption.
The National Union of Public and General Employees (NUPGE) is one of Canada's largest labour organizations with over 390,000 members. Our mission is to improve the lives of working families and to build a stronger Canada by ensuring our common wealth is used for the common good. — NUPGE