The Anglican Examiner
|Encouraging Christian Witness in Investments
American labor law reform, which Human Rights Watch
has called a “human rights imperative,” has won the support
of an international coalition of institutional investors
managing $372 billion in capital. The group of 26
institutions has sent a letter to Congress endorsing the
Employee Free Choice Act (EFCA). The act would make it
easier to organize labor unions in the United States and
eliminate some current anti-union practices.
The letter said “unionization can have strong long-term
benefits for individual companies. Studies have shown that
union-represented employees have lower turnover rates than
non-union employees, leading to lower training and hiring
costs, and a more experienced workforce. This partly
explains why unionized workforces are associated with
higher productivity gains in certain sectors.”
In an appendix to the letter, the investors noted that 35
countries on six continents already have provisions similar
to what EFCA proposes.
The investor coalition includes institutions such as
Kommunal Landspensjonskasse, Norway’s manager of
municipal and county pensions; Merseyside Pension Fund in
the United Kingdom; Pensionskassernes Administration
(PKA), Denmark’s largest manager of occupational pension
funds; and the Australian Council of Superannuation
Domini Social Investments, founded by Amy Domini of the
Diocese of Massachusetts, helped draft the letter and was
one of the signatories. Details are available at Domini.com.
|International Coalition of Investors
Calls for Labor Law Reform in U.S.
|The Anglican Examiner, Copyright by Donn Mitchell, 2009.