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NEW (recent additions to this section; top item is most recent addition)

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)

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)