Siemens asked to quite US Chamber of Commerce

An electronics multinational has been urged to withdraw from the US Chamber of Commerce following a perceived disconnect between its corporate responsibility policies and the Chamber’s efforts to weaken bribery legislation. Siemens has been asked to quit the Chamber, where it sits on the board, or risk undermining its efforts on corruption by the CtW Investment Group, which advises large pension funds on shareholder activism. In 2010, Walden Asset Management had written to dozens of members of the Chamber’s board outlining the association’s attempts to derail climate change legislation, after Nike had resigned its board position in 2009 over similar concerns.