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Insurance
firms open way for Holocaust claims - The names of 363,000 victims of the
Holocaust will be published on the Internet today by German life insurance
companies, enabling relatives to lodge claims worth millions of pounds on
policies buried in archives for more than half a century. (Roger Boyes, Times
[UK], 30 Apr. 2003)
Judge
OKs MetLife discrimination settlement [USA] - A federal judge has approved a
settlement of a lawsuit that accused Metropolitan Life Insurance Co. of
discriminating against blacks and other minorities in the selling of policies.
(AP, 29 Apr. 2003)
Ford
and Fannie Mae Top List of 50 Best Companies for Diversity [USA] -...The ranking
took into consideration many different aspects of diversity, including race,
gender, sexual orientation, and disability, among others...The top ten companies
on the list included Ford, Fannie Mae, American Express, Verizon, IBM, SAFECO,
Deloitte & Touche, Eastman Kodak, Bank of America, Xerox (William Baue, SocialFunds.com,
24 Apr. 2003)
Earth
Day Founder Not the Only One to Link Climate Change and Investing - The voices
of institutional investors representing public pension funds join those from the
insurance industry to advance a business case for addressing climate
change...Mr. Hayes [Earth Day founder Denis Hayes] pointed out that precious few
companies are following the examples of BP, DuPont, IBM, and Johnson &
Johnson, which are recognizing the business case for improving environmental
performance and reducing greenhouse gas emissions. (William Baue, SocialFunds.com,
22 Apr. 2003)
|
Websites:
Company
Policies for EEO [Equal Employment Opportunities] in Banking, Finance and
Insurance Services
(International Labour Organization)
Industry
Watch: Insurance (Washington Post)
Insurance
Claims (Holocaust Claims Processing Office of the New York State Banking
Department website)
Insurance
Industry Initiative - In collaboration with UNEP FI a group of leading
insurance, reinsurance and pension fund companies has developed a Statement of
Environmental Commitment for the Insurance Industry (United Nations
Environment Programme Finance Initiatives)
Pilot
project: Southern Africa Business and Gender Initiative [companies
participating: ABSA, SAB-Beer Divisions, Vodacom, Toyota, Old Mutual]
(Resource Centre for the Social Dimensions of Business Practice)
A
Search For Justice [website about the progress of European banks and
companies in returning World War II-era funds deposited by Holocaust victims and
their families, and restitution for slave and forced labour during World War II]
(Commonwealth of Pennsylvania Treasury Department)
Other
materials:
2003:
Insurance
firms open way for Holocaust claims - The names of 363,000 victims of the
Holocaust will be published on the Internet today by German life insurance
companies, enabling relatives to lodge claims worth millions of pounds on
policies buried in archives for more than half a century. (Roger Boyes, Times
[UK], 30 Apr. 2003)
Judge
OKs MetLife discrimination settlement [USA] - A federal judge has approved a
settlement of a lawsuit that accused Metropolitan Life Insurance Co. of
discriminating against blacks and other minorities in the selling of policies.
(AP, 29 Apr. 2003)
Ford
and Fannie Mae Top List of 50 Best Companies for Diversity [USA] -...The ranking
took into consideration many different aspects of diversity, including race,
gender, sexual orientation, and disability, among others...The top ten companies
on the list included Ford, Fannie Mae, American Express, Verizon, IBM, SAFECO,
Deloitte & Touche, Eastman Kodak, Bank of America, Xerox (William Baue, SocialFunds.com,
24 Apr. 2003)
Earth
Day Founder Not the Only One to Link Climate Change and Investing - The voices
of institutional investors representing public pension funds join those from the
insurance industry to advance a business case for addressing climate
change...Mr. Hayes [Earth Day founder Denis Hayes] pointed out that precious few
companies are following the examples of BP, DuPont, IBM, and Johnson &
Johnson, which are recognizing the business case for improving environmental
performance and reducing greenhouse gas emissions. (William Baue, SocialFunds.com,
22 Apr. 2003)
The
UK Corporate Sustainability Reporting Awards [refers to The Co-operative Bank,
Shell, BT Group, Risk and Policy Analysts Ltd., Unilever, Scottish Power,
Canary Wharf Group, Best Foot Forward Ltd, FRC Group, Co-operative Insurance
Society, Traidcraft, British American Tobacco] (Tobias Webb, Ethical
Corporation Magazine, 25 Mar. 2003)
Oekom Applauds Insurers Employing SRI but Chides
Rest of Sector's Non-Transparency - Lack of transparency prevented the German
corporate research firm from conducting corporate responsibility ratings on the
majority of global insurance companies. - Few insurance companies are making the
effort to disclose their social and environmental performance...Norway-based
Storebrand, which scored the highest overall rating of "B" on a scale
from "A+" to "D-", received kudos for employing negative as
well as best-in-class screening in substantial portions of its investment
portfolio...The report highlighted the shareowner advocacy practices of UK-based
Aviva, which placed second in the overall rating with a "B", and
Australia-based AMP, which placed twelfth with a "C".
"As
an example, Morley Fund Management [Aviva] is committed to vote against FTSE 100
companies, which do not publish environmental reports" (William Baue, SocialFunds.com,
18 Mar. 2003)
The
launch of the UK Corporate Responsibility Index - Toby Kent reports from the
launch of the BitC [Business in the Community] Corporate Responsibility Index,
highlighting its main components and the major issues it raises. (Toby Kent,
in Ethical Corporation Magazine, 14 Mar. 2003)
Allstate
Lawsuit Could Be Largest Age Discrimination Case [USA] - Twenty-nine employees at U.S.
insurer Allstate Corp. are seeking class-action status for an age discrimination
lawsuit alleging the company targeted older workers when it phased out its
Neighborhood Office Agents (Business for Social Responsibility summary of 2
Mar. 2003 New York Times article, 5 Mar. 2003)
UnumProvident
announces corporate mentoring programme for disabled people [UK] - Leading
disability insurer, UnumProvident is calling on UK companies to join in a new
and exciting volunteering mentor programme, developed in conjunction with RADAR
(the Royal Association for Disability and Rehabilitation) and supported by
Business in the Community (BITC), to help disabled people overcome barriers to
finding work. (Business in the Community, 3 Mar. 2003)
Corporate
Bill for Slavery - The federal class-action lawsuits [in USA]...seek corporate
accountability for profits made from slavery, unspecified damages and the
establishment of a fund for the healthcare, housing, education and economic
development needs of African-Americans. They also want a full investigation of
the financial underpinnings of slavery...On the other side of the lawsuits are
seventeen powerful corporations. They include financial institutions such as
JPMorgan Chase and FleetBoston; insurance companies (e.g., Aetna and New York
Life); railroads (Norfolk Southern, Union Pacific and CSX); tobacco companies
(R.J. Reynolds, Brown & Williamson); and a textile manufacturer (WestPoint
Stevens). (John S. Friedman, The Nation, 20 Feb. 2003)
CLIMATE
CHANGE: Commentator Calls For Action By Insurers - Insurers should stop seeking
to deny global warming-related coverage and instead lobby for legislation to
protect the environment and rate companies they insure according to their
environmental records, according to a commentary in yesterday's International
Herald Tribune. (UN Wire, 8 Jan. 2003)
2002:
Investing
in Africa, challenges and initiatives - Alex Blyth looks at the principal issues
around western business investment in Africa and some of the companies that are
attempting to improve their impact on the landscape and people of the continent
[refers to Environment: TotalFinaElf in Nigeria; Palabora Mining Company (49%
owned by Rio Tinto) in South Africa; Anglo American; DeBeers; Water &
sanitation: Suez in Morocco & South Africa; Thames Water in Tanzania &
South Africa; Education: ChevronTexaco in Nigeria; Old Mutual in South Africa;
Barclays Africa; Economic development: Richards Bay Minerals (50% owned by Rio
Tinto) in South Africa; HIV/AIDS: Bristol-Myers Squibb Company in South
Africa, Botswana, Namibia, Lesotho and Swaziland; DaimlerChrysler in South
Africa; Coca-Cola] (Alex Blyth, in Ethical Corporation Magazine,
11 Nov. 2002)
DISASTERS:
UNEP, Financial Companies Warn About Climate Change (UN Wire, 8 Oct. 2002)
Judge
links US tobacco lawsuits - A federal court judge has unleashed an ambitious
campaign against the US tobacco industry by certifying a nationwide
punitive-damage class-action suit against several cigarette makers.
(Jonathan Moules, Financial Times, 21 Sep. 2002)
Insurer
calls for tough rules on pollution - A senior insurance figure said the industry
had been frozen out of the Earth Summit in Johannesburg and called for tougher
measures against climate changes which risk costing insurers billions of
dollars. (Simon Challis, Reuters, 6 Sep. 2002)
CLIMATE
CHANGE: Firms, Investors Fret Over Costs, Liability -...the Times [New
York Times] reported that companies are likely to face huge costs from
climate change and could be sued by governments, investors and others if they
fail to protect themselves against warming-related risks...Companies such as
DuPont, BP and Ford have begun addressing climate change risk in annual reports
and U.S. Securities and Exchange Commission filings, and Dow says it is set to
release a social responsibility report in which it charts its greenhouse gas
emissions reductions for the first time. The Times reports that Swiss Re
is considering denying coverage to firms that do not address the problem (UN
Wire, 19 Aug. 2002)
13
Companies Earn Perfect Score on First HRC Corporate Equality Index [USA]:
Demonstrate Leadership with Regard to Gay, Lesbian, Bisexual, Transgender
Employees - A total of 13 major U.S. corporations earned 100 percent on the
Human Rights Campaign Foundation's first Corporate Equality Index, released
today. The index rates large corporations on policies that affect their gay,
lesbian, bisexual and transgender employees, consumers and investors...The 13
companies that scored 100 percent are: Aetna Inc.; AMR Corp./American Airlines;
Apple Computer Inc.; Avaya Inc.; Eastman Kodak Co.; Intel Corp.; J.P. Morgan
Chase & Co.; Lucent Technologies Inc.; NCR Corp.; Nike Inc.; Replacements
Ltd.; Worldspan L.P.; and Xerox Corp...At the other end of the scale, three
companies scored zero: CBRL Group Inc./Cracker Barrel; Emerson Electric Co.; and
Lockheed Martin Corp. (Human Rights Campaign, 13 Aug. 2002)
Marais
'pinklisted' as gays name and shame - South African individuals, institutions
and companies who are alleged to be homophobic will be targeted by gay activists
from Tuesday when a website goes on line aimed at, among other things, naming
and shaming...A life insurance company which allegedly refused to pay out
benefits to a lesbian's partner...are among those who have been
"pinklisted". (Independent [South Africa], 3 Aug. 2002)
South
African Community Growth Fund Celebrates Tenth Anniversary - The Community
Growth Fund invests in South African companies committed to sustainable
development and triple bottom line reporting [refers to companies that went
through protracted process before qualifying for CGF investment: South African
Breweries, Rand Water, Naspers Group; companies removed from the CGF: Western
Deep Level mine, Hoskens Consolidated Investments, Liberty Life; companies that
refused to submit to CGF's social audit: Aspen Pharmacare, Sun International,
Vanadium Corp. (William Baue, SocialFunds.com, 17 July 2002)
Longer
hours lead to lawsuits over pay [USA] [regarding lawsuits about unpaid overtime;
refers to Starbucks, Wal-Mart, Tyson Foods, Rite Aid, Bank of America, Pacific
Bell, Farmers Insurance Group] (Fay Hansen, Christian Science
Monitor, 1 July 2002)
Belgium
agrees Jewish compensation package - Representatives of the Jewish community in
Belgium have signed a compensation deal worth $45m for property seized or lost
during the Nazi occupation...The money is being paid by the Belgian Government,
insurance companies and the central bank.
Negotiations are still continuing over a separate
agreement with private banks. (BBC
News, 27 June 2002)
SUSTAINABLE
DEVELOPMENT: UNEP Blasts Industry "Business As Usual" (UN
Wire, 16 May 2002)
State
[California] releases names of slaves who were insured - The names of hundreds
of slaves whose lives were insured before 1865 were released by the state
Wednesday, plunging California into the middle of a growing national movement to
sue companies for slavery reparations. The information, mandated by a state law
passed in 2000, came largely from three insurance companies that do business in
California: New York Life, AIG and Aetna (Sarah Lubman, San Jose Mercury
News, 2 May 2002)
Companies
need to get a social life: A voluntary disclosure code for corporate
responsibility would achieve more than a mandatory ticking of boxes (Peter
Montagnon, Head of Investment Affairs at the Association of British Insurers, Financial
Times, 22 Apr. 2002)
Federal
Lawsuit [USA] Seeks Slave Reparations from Three Companies [Aetna Inc., CSX Corp.,
FleetBoston Financial Corp.] (William Baue, SocialFunds.com, 18 Apr.
2002)
Lawsuit
Chases Companies Tied to Slavery [USA]: A prayer on a Brooklyn street preceded
the filing of an unprecedented $1.4 trillion lawsuit against eight major
corporations alleged to have profited from their historical ties to the slave
trade more than 137 years ago. Claiming to represent all of the United States'
35 million African-Americans, New York slave reparations activist Deadria
Farmer-Paellmann named Aetna Inc., CSX Corp. and FleetBoston Financial Corp.,
among others, as unjustly profiting from the slave trade before the Civil War
ended in 1865. (Kelley Vlahos Beaucar, Fox News, 27 Mar. 2002)
US
firms face slave reparations suit: Three major US corporations accused of
profiting from the slave trade before it was abolished almost 150 years ago are
being taken to court by African-Americans seeking compensation for the abuses
suffered by their ancestors. The lawsuit is the first of what is expected to be
a deluge of claims against insurer Aetna, railroad firm CSX and financial
services firm Fleet Boston. (BBC News, 26 Mar. 2002)
- Corporations
challenged by reparations activists [USA]:..So far, the reparations legal
team has publicly identified five companies it says have slave ties:
insurers Aetna, New York Life and AIG and financial giants J.P. Morgan Chase
Manhattan Bank and FleetBoston Financial Group...Independently, USA TODAY
has found documentation tying several others to slavery:
Investment banks Brown Bros. Harriman and Lehman
Bros.; Railroads Norfolk Southern, CSX,
Union Pacific and Canadian National; Textile maker WestPoint Stevens;
Newspaper publishers Knight Ridder, Tribune, Media General, Advance
Publications, E.W. Scripps and Gannett, parent and publisher of USA
TODAY...USA TODAY contacted all the companies named in this article. Some
acknowledged the evidence, others disputed it. Many declined comment. Of
those that did comment, virtually all said the current company isn't liable
for what happened before the Civil War.
(James Cox, USA Today, 21 Feb. 2002)
KPA,
Sweden, joins UNEP [U.N. Environment Programme] Insurance Industry Initiative:
KPA, Sweden, a pension fund with $1.5 billion in assets has become the latest
signatory to the UNEP FI Statement of Environmental Commitment by the Insurance
Industry Initiative, a commitment by companies to incorporate environmental
principles into their internal and external business activities. (U.N.
Environment Programme, 22 Mar. 2002)
Prison
Blues; Starbucks, Nike, others profit from inmate labor [at U.S. prisons] - A
partial list of companies that have worked within the prison system, directly
employed prison workers, or contracted with companies that employ prison
workers, either currently or in the past:
Allstate, Best Western, Dell Computer, Eddie Bauer,
Hawaiian Tropical Products, J. C. Penney, Kmart, Kwalu Inc., Konica, Lockhart
Technologies, McDonald's, Merrill Lynch, Microjet, Microsoft, New York, New York
Hotel and Casino, Nike, No Fear Inc., Omega Pacific, Parke-Davis, Planet
Hollywood, Prison Blues (jeans), Shearson Lehman, Starbucks, Target, TWA,
Victoria's Secret, Union Bay, Upjohn, Washington Marketing Group
(Erica Barnett, In These Times, 4 Mar. 2002)
SA
employers urged to help manage Aids: South African employers should actively
manage HIV-Aids in the workplace to reduce the effect of the pandemic on
business and society, Old Mutual's deputy managing director Peter Moyo said
yesterday. (South African Press Association, in Dispatch
[South Africa], 27 Feb. 2002)
USA:
Activists Challenge Corporations They Say Are Tied to Slavery -...A powerhouse
team of African-American legal and academic stars is getting ready to sue
companies it says profited from slavery before 1865...So far, the reparations
legal team has publicly identified five companies it says have slave ties:
insurers Aetna, New York Life and AIG and financial giants J.P. Morgan Chase
Manhattan Bank and Fleet Boston Financial Group (James Cox, USA Today,
21 Feb. 2002)
Insurers
press for climate-change controls: Having extracted government action on
exposure to terrorist attacks, the insurance industry must now press politicians
for climate-change controls, one of its leaders said this week (Simon
Challis, Reuters, 20 Feb. 2002)
Swiss
Insurance Company Invests in Sustainability: The reinsurance giant Swiss Re
supports sustainability not only in its business practices but also in its
investments...Swiss Re bases its insurance rates in part on their clients'
environmental impact. Because sustainable companies have less risk in terms of
potential losses due to environmental mismanagement, all other things being
equal, those companies would pay lower premiums. (William Baue, SocialFunds.com,
25 Jan. 2002)
Dutch
process Holocaust claims: Dutch authorities have begun processing the final
claims for compensation for people whose belongings were stolen by the Nazis.
The government and financial institutions are paying
$6,000 each to Holocaust survivors and their descendents in order to make
reparations...In 1997, the Dutch government, the Amsterdam stock exchange, and
banks and insurance companies funded this scheme to the tune of more than $200m.
(Geraldine Coughlan, BBC News, 3 Jan. 2002)
2001:
U.S.
[U.S. Equal Employment Opportunity Commission] Sues Allstate [Allstate Insurance
Company], Whose Agents Cite Age Discrimination (Joseph Treaster, New York
Times, 28 Dec. 2001)
Holocaust
Restitution in the United States and Other Claims For Historical Wrongs - An
Update [includes updates on human rights-related lawsuits against Credit Suisse,
Union Bank of Switzerland, Swiss Bank Corporation, German & Austrian banks,
French banks, Barclays Bank, Chase Manhattan Bank, J.P. Morgan, European
insurance companies, Ford Motor Co., German corporations including Degussa and
Siemens; Japanese corporations including Nippon Sharyo, Kawasaki Heavy
Industries, Mitsubishi, Mitsui, Nippon Steel; New York Life Insurance Co.]
(Michael J. Bazyler, Professor of Law at Whittier Law School, in ACLU International Civil Liberties Report 2001
[American Civil Liberties Union], Dec. 2001)
Asbestos
victims widen quest for compensation [South Africa/UK]: THE victims in SA's
biggest asbestos claim have shown SA mining company Gefco and insurance firm
General Accident SA that they intend to widen their focus in their quest for
compensation. Although talks are continuing to settle the matter with Cape plc,
the victims are looking to the two companies to acknowledge responsibility for
the past and offer compensation. (Business Day [South Africa], 23
Nov. 2001)
Insurers
see more disasters due to climate change: Global warming will cause a massive
increase in weather-related disasters such as hurricanes in coming decades,
major insurance companies said yesterday.
Big insurers and banks like Swiss Re, Munich Re and
UBS told delegates at a United Nations climate change conference yesterday that
they had already seen a huge increase in the number of floods and hurricanes.
(Reuters, 2 Nov. 2001)
British
Insurers Demand Corporate Social Responsibility: The Association of British
Insurers recently announced that its members will expect companies to disclose
how social, environmental and ethical risks are being handled...The over 400
members of the ABI, a trade association for Britain's insurance industry,
account for more than 20 percent of stock market investment in London. Such
clout ensures that companies will take the guidelines seriously...."Our
focus is on enhancing value in companies through effective response to
risks." (Mark Thomsen, SocialFunds.com, 30 Oct. 2001)
Big
investors press for social responsibility [UK]: Britain's biggest investors are
to put greater pressure on companies to sign up to the principles of corporate
social responsibility, under tough new guidelines published yesterday by the
Association of British Insurers. The move by the ABI, whose members control one
quarter of the UK stock market, represents a significant shift by investors, who
have traditionally seen social responsibility as a "distraction".
Douglas Alexander, minister for corporate social responsibility, who addressed
yesterday's ABI conference, signalled that the government might make a new
operating and financial review - giving details on a company's approach to
social and environmental issues - mandatory for the "most economically
significant" companies...New research published by the ABI, shows that
there are risks to shareholder value from human rights abuses, poor treatment of
workers, suppliers and customers. (Simon
Targett, Financial Times, 24 Oct. 2001)
Socially
Responsible Investment (Sri) - ABI Leads the Way with New Guidelines: The ABI
(Association of British Insurers) today issued new investment guidelines to
improve disclosure by Britain’s companies of their approach to corporate
social responsibility. The guidelines respond to the widespread and growing
interest in corporate social responsibility amongst the public and
investors...The ABI also publishes today "Investing in Social
Responsibility: Risks and Opportunities" by Roger Cowe. This is major new
research which shows clearly the business case for Corporate Social
Responsibility. Companies which take their social responsibilities seriously are
successful companies...A company can put its business at risk if it fails to
respond appropriately to social, ethical and environmental matters. The ABI
guidelines call on companies to confirm in their annual report that they have
assessed these risks and are managing them in such a way as to preserve or even
enhance the value of the business. (Association of British Insurers, 23 Oct.
2001)
UNEP:
Export Credit Agencies Meet To Consider "Green" Measures - Senior staff
from export credit agencies, banks and insurers yesterday opened a two-day
workshop in Paris under the auspices of the U.N. Environment Program to discuss
environmental issues related to finance, such as how to reward companies with
strong environmental considerations. (UN Wire, 23 Oct. 2001)
The
Greening of Export Credit Agencies - ECA's, banks and insurers discuss
environmentally reponsible financing: 70 senior staff from Export Credit
Agencies (ECAs), banks and insurers - which facilitate USD billions of trade
annually - are gathering in Paris today. They are meeting under the
auspices of the United Nations Environment Programme (UNEP) to explore how to
further "green" their operations. The two day workshop, hosted
by the French ECA, Coface, is, for the first time, bringing together ECA
underwriters, private sector financiers, environmental experts and the United
Nations, to discuss environmental issues relevant to finance. In
particular, the meeting will look at how to facilitate the implementation of
project screening - already adopted by many of the respective institutions.
(U.N. Environment Programme and Coface, 22 Oct. 2001)
Risky
businesses need help: Companies will be given a powerful incentive to become
socially responsible when the Association of British Insurers publishes its
investment guidelines in the autumn. (Hilary Sutcliffe, The Observer
[UK], 8 July 2001)
Businesses
support Kyoto climate treaty: WWF, the conservation organization, welcomes
today's call on governments by more than 90 companies grouped together in the
"e-mission 55 - Business for Climate " initiative to finalise the
Kyoto Protocol. (World Wildlife Fund, 5 July 2001)
First
Corporate Pledge Made to Global AIDS Fund [by Winterthur, the Swiss-based
insurance subsidiary of Credit Suisse] (Karen DeYoung, Washington Post,
8 June 2001)
INFECTIOUS
DISEASES: Swiss Company [Winterthur, the Swiss-based insurance subsidiary of
Credit Suisse] To Give $1 Million To Fund [to UN Secretary-General Kofi Annan's
global infectious diseases fund] (UN Wire, 8 June 2001)
Kofi
Annan's Remarks To The US Chamber of Commerce: United Nations Secretary General
Kofi Annan today called on American business to join the global fight agains
AIDS. Below is the text of Mr. Annan's address. (United Nations, in allAfrica.com,
1 June 2001)
Greenhouse
Gas Emissions Trading Market Emerges in Chicago: A diverse group of 25 large
corporations and nonprofit organizations has agreed to participate in the design
phase of a voluntary pilot trading market, the Chicago Climate Exchange. (Environment
News Service, 30 May 2001)
2000:
The
business response to HIV/AIDS: impact and lessons learned [Section 5,
"Profiles of business activities in response to HIV/AIDS", includes
profiles of American International Assurance, Thailand; The Body Shop, Japan;
Warsaw Marriott Hotel; Larsen & Toubro, India; Volkswagen do Brasil; Molson
Breweries, Canada; Chevron Nigeria; Standard Chartered Bank, UK; International
Hotel & Restaurant Association; Anglo Coal, South Africa; Eskom, South
Africa; ALMS, Czech Republic; Teddy Exports, India; Bristol Myers Squibb, USA;
The Shell Company of Thailand] (Prince of Wales International Business
Leaders Forum in collaboration with UNAIDS and Global Business Council on
HIV/AIDS, 2000)