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Socially responsible investors appear in no mood to ease the pressure
on retail giant Wal-Mart, despite its dramatic recent announcement that
it will adopt a range of CSR measures.
Members of the Interfaith Center on Corporate Responsibility, a coalition of 275 institutional investors that control assets of more than $110billion (£63bn), have filed seven resolutions on CSR-related issues, while others have tabled four more. Last year Wal-Mart faced 11 resolutions on social and environmental topics.
Equal opportunities, racial discrimination, product safety, healthcare insurance and executive pay are among the subjects on which resolutions have been filed this year.
David Schilling, director of the global corporate accountability programme at ICCR, said the continued high number of resolutions reflected scepticism that Wal-Mart would honour the social and environmental pledges its chief executive Lee Scott made in late 2005 (EP7, issue 7, p3). However, the ICCR said it also felt there may now be a better chance of achieving its demands.
Members of the Interfaith Center on Corporate Responsibility, a coalition of 275 institutional investors that control assets of more than $110billion (£63bn), have filed seven resolutions on CSR-related issues, while others have tabled four more. Last year Wal-Mart faced 11 resolutions on social and environmental topics.
Equal opportunities, racial discrimination, product safety, healthcare insurance and executive pay are among the subjects on which resolutions have been filed this year.
David Schilling, director of the global corporate accountability programme at ICCR, said the continued high number of resolutions reflected scepticism that Wal-Mart would honour the social and environmental pledges its chief executive Lee Scott made in late 2005 (EP7, issue 7, p3). However, the ICCR said it also felt there may now be a better chance of achieving its demands.
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