Here's a press release we just received from Comptroller Bill Thompson:
THOMPSON AND NEW YORK CITY PENSION FUNDS CALL FOR HUMAN RIGHTS AT CORPORATIONS WITH OVERSEAS OPERATIONS
New York City Comptroller William C. Thompson, Jr., on behalf of the New York City Pension Funds, has submitted a shareholder proposal to four companies calling for stringent implementation of a code of conduct to protect human rights in the workplace.
The code of conduct is based on the International Labor Organization (ILO) human rights standards and the United Nations' Norms on the Responsibilities of Transnational Corporations with Regard to Human Rights.
The workplace human rights include banning of child labor; no use of forced, bonded or prison labor; allowing all workers to form and join unions and bargain collectively; prohibiting discrimination of worker representatives; and barring employment discrimination and intimidation.
The New York City Pension Funds consist of: New York City Employees' Retirement System (NYCERS), Teachers' Retirement System of the City of New York (TRS), New York City Police Pension Fund, New York City Fire Department Pension Fund, and the New York City Board of Education Retirement System (BERS).
"All workers deserve to be treated fairly and be guaranteed basic human rights protections in the workplace," Thompson said. "U.S. companies are obligated to ensure that workers employed in their overseas operations and by their international suppliers are afforded the same rights that workers are commonly provided here in the U.S. A company's failure to diligently pursue this basic standard of corporate social responsibility could negatively impact the company's societal acceptance and sustainability, thereby creating an unacceptable level of risk both for the company and its shareholders over the long-term."
Public Advocate Betsy Gotbaum, who serves on the NYCERS Board, said, "As shareholders of these companies, we must use our influence to encourage and implement fair labor practices. When it comes to human rights, fair practices are non-negotiable, regardless of where in the world these businesses operate. It is essential we agree upon the need for certain codes of conduct that ensure that child labor, forced labor and discrimination are permanently curtailed."
The proposal calls on the companies to commit to the implementation of a code of conduct based on the ILO human rights standards and the UN Norms and commit to independent compliance of these standards in their own international production facilities and by their international suppliers.The proposal can be viewed at www.comptroller.nyc.gov .
The proposal was submitted to the following companies: Cooper Industries, Ltd. of Houston, TX; Lear Corporation of Southfield, MI; Xerox Corporation of Norwalk, CT; and, Urban Outfitters, Incorporated of Philadelphia, PA.
Collectively, the Pension Funds own 3,589,395 shares in the companies.
Besides Thompson, the Pension Funds' trustees are:
NYCERS: New York City Finance Commissioner Martha E. Stark (Chair); New York City Public Advocate Betsy Gotbaum; Borough Presidents Scott Stringer (Manhattan), Helen Marshall (Queens), Marty Markowitz (Brooklyn), Adolfo Carrion (Bronx), and James Molinaro (Staten Island); Lillian Roberts, Executive Director, District Council 37, AFSCME; Roger Toussaint, President Transport Workers Union Local 100; and, Gregory Floyd, President, International Brotherhood of Teamsters, Local 237.
TRS: New York City Finance Commissioner Martha E. Stark (Chair); Deputy Chancellor Kathleen Grimm, New York City Department of Education; and, Sandra March, Melvyn Aaronson and Mona Romain, all of the United Federation of Teachers.
Police Pension Fund: Mayor Michael Bloomberg; New York City Finance Commissioner Martha E. Stark; New York City Police Commissioner Raymond Kelly (Chair); Patrick Lynch, Patrolmen's Benevolent Association; Michael Palladino, Detectives Endowment Association; Edward D. Mullins, Sergeants Benevolent Association; Thomas Sullivan, Lieutenants Benevolent Association; and, Roy T. Richter, Captains Endowment Association.
Fire Department Pension Fund: Mayor Michael Bloomberg; New York City Fire Commissioner Nicholas Scoppetta (Chair); New York City Finance Commissioner Martha E. Stark; Stephen Cassidy, President, James Slevin, Vice President, Robert Straub, Treasurer, and John Kelly, Brooklyn Representative and Chair, Uniformed Firefighters Association of Greater New York; John Dunne, Captains' Rep.; John J. McDonnell , Chiefs' Rep., and James J. McGowan, Lieutenants' Rep., Uniformed Fire Officers Association; and, Joseph Gagliardi, Marine Engineers Association.
BERS: mayoral appointees Schools Chancellor Joel Klein, Alan Aviles, Philip Berry, David Chang, Tino Hernandez, Edison O. Jackson, Richard Menschel and Marita Regan; Patrick Sullivan (Manhattan), Wendy Gilgeous (Brooklyn), and Joan Correale (Staten Island); and employee members Joseph D'Amico of the IUOE Local 891 member and Milagros Rodriguez of District Council 37, Local 372.
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