CBIS helped lead a group of seven prominent, faith-based investment organizations, including the Interfaith Center for Corporate Responsibility (ICCR), in support of the worker pay ratio that requires businesses to disclose their median CEO-to-worker pay ratio. The Securities and Exchange Commission (SEC) has come under pressure from the new administration to eliminate regulations that are perceived to cause an undue reporting burden to companies. The rule, which came into effect in January of this year, is now being reevaluated.<\/p>\n
CBIS and the others believe the pay ratio provides valuable information about a company\u2019s health \u2013 and is an important measure of income inequality in society. In a new press release from Everence Financial, Julie Tanner, Director of Catholic Responsible Investing\u2120 for CBIS, noted that \u201cCatholic ethical and social teaching recognizes the rights of employees to receive just wages and the obligation of corporations to share prosperity broadly throughout the firm.\u201d<\/p>\n
In addition to keeping a focus on income inequality, Julie stated that it \u201ccan also help shareholders effectively assess how financial gains are distributed and how employee contributions are valued.\u201d<\/p>\n