WEBINAR: Risky Business: Mitigating Social and Environmental Impacts in the EV Sector
MARCH 9, 2022 | 9:00 AM TO 10:00 AM EST
The transition to net-zero emissions requires a shift to battery-powered vehicles. Leading automotive manufacturers are making large investments in building electric vehicle (EV) and battery manufacturing capacity and new entrants are coming to the public market at extraordinary valuations.
The rapid growth of the EV sector has been accompanied, however, by widespread concerns regarding the potential for negative social and environmental impacts that present risks to investors. An EV transition that fosters de-unionization, environmental injustice, human rights abuses, and ecosystem degradation risks to deepen racial and income inequalities and create public opposition that could derail efforts to combat climate change.
MODERATOR:
Michael Frerichs, Illinois State Treasurer
PANELISTS:
Cindy Estrada, Vice President, United Auto Workers
Ramón Cruz, President, Sierra Club
Richard Kent, Researcher/Advisor, Human Rights and Energy Transition, Amnesty International Secretariat
Union Auto Worker
Non-Union Worker
SOC Investment Group calls on General Electric Board to replace two Compensation Committee members in wake of high shareholder opposition to their re-election
Shareholders Urge Apple to Conduct a Civil Rights Audit
SOC Investment Group Calls on Coca-Cola Board Not to Renominate Activision CEO Bobby Kotick
Shareholders call on Activision Blizzard Board to terminate CEO, replace Board Chair and Lead Independent Director
SOC calls on Rivian to conduct transparent human rights and environmental due diligence with strong board oversight
Letter to SEC in Support of Health & Safety and Other Workforce Disclosure
SOC Letter to Rose Marcario, Chair, Planet and Policy Committee, Board of Directors, Rivian
Investors with $3.5 trillion AUM Request Transparency by Wells Fargo on Human Rights Impact Assessment
WEBINAR: XPO Logistics/GXO Logistics: Social and Governance Risk
One of the world’s supply chain giants, XPO Logistics stands at a critical juncture as it splits into two companies: XPO and GXO. The new companies face serious corporate governance and workplace concerns. At its recent annual meeting, investors rejected XPO’s executive pay arrangements due to concerns over mega equity grants.
During the Covid-19 pandemic workers reported poor health and safety practices while courts ordered the company to settle numerous cases of misclassifying workers creating ongoing legal and reputational risks. In addition, accusations of Covid outbreaks, misuse of UK public furlough funds and sharing of PPE in warehouses have cast a shadow over the spin off GXO as the largest pureplay logistics company.
This webinar features:
XPO/GXO workers: A bottom-up view of employment practices
Beth Gutelius, PhD, Research Director of the Center for Urban Economic Development at the University of Illinois Chicago and an expert in the warehouse industry
Louis Malizia, International Brotherhood of Teamsters: trade union perspective on systemic workplace risks
Tom Harrington, Greater Manchester Pension Fund: Investor perspective
Activist Hedge Fund Risks to Pension Funds: The Case of Elliott Management
This joint report by the Communications Workers of American (CWA) and the SOC Investment Group finds that activist hedge fund Elliott Management underperforms public investment benchmarkts on a risk-adjusted basis, while also negatively affecting the operating and financial performance of portfolio companies.