CBIS helped to galvanize more than one hundred investors representing over $1 trillion in assets to support The Business Supply Chain Transparency on Trafficking and Slavery Act of 2015 (H.R. 3226\/S.1968). The Act is aimed at strengthening corporate commitment to end human trafficking and modern day slavery by requiring them to disclose the policies and management systems they have in place to better identify and eradicate these violations within their global supply chains. <\/p>\n
CBIS played a critical role, helping to craft the statement, organize investor signatories, and speak with legislators. We have supported supply chain transparency legislation since 2010, when we rallied shareholders around the country behind The California Transparency in Supply Chains Law. <\/p>\n
Julie Tanner, Assistant Director of Catholic Responsible Investing\u2120 at CBIS, has led the firm\u2019s effort to support this new Anti-Trafficking Act. \u201cCBIS has long been in the fight to end modern slavery, and this bi-partisan legislation has real potential to make a difference,\u201d said Tanner. \u201cIt may also work to support shareholder value, by reducing the potential legal and reputational risks that can occur if an incident arises deep in a company\u2019s global supply chain.\u201d The Act would require public disclosures around auditing and verification procedures, risk assessments, training, remediation plans and accountability mechanisms that address trafficking and slavery risks to corporations.<\/p>\n
\u201cWe have witnessed the legal and reputational consequences of companies being blindsided when a trafficking and slavery incident surfaces from somewhere deep in their supply chains,\u201d said Julie Tanner of Christian Brothers Investment Services. \u201cThose consequences can have serious financial ramifications that are felt by shareholders. We believe this proposed legislation offers a meaningful solution, and strongly urge lawmakers in both the House and the Senate to co-sponsor it.\u201d<\/em> Excerpted from the Investor Support Statement<\/p>\n In addition to CBIS, the Interfaith Center on Corporate Responsibility, Calvert Investments, the Connecticut State Treasurer\u2019s Office, U.S. and international public pension funds, and many other faith-based institutions are also participating. Collectively, the group sent a statement to the U.S. Senate\u2019s Committee on Banking, Housing and Urban Affairs and the House of Representatives\u2019 Committee on Financial Services urging strong bi-partisan support. Additional excerpts:<\/p>\n