Asset Managers Back Major Human Rights Engagement

More than 120 asset managers and other investors have launched a collaboration backed by the Principles for Responsible Investment (PRI) to engage with 40 listed companies on human rights issues.

Asset managers including JP Morgan Asset Management, Morgan Stanley Investment Management, PIMCO, Schroders, and TD Asset Management are taking the lead on stewardship efforts with listed companies, according to the PRI’s new Advance program.

The companies with which these asset managers will engage include utilities firms, power companies, and mining and materials companies such as Anglo American, Duke Energy, Glencore, RWE, and Vale.

PRI CEO David Atkin said: “Investors’ collective efforts can truly bring about change in the way corporate practices impact people. Through Advance, we aim to offer investors the opportunity to shape the way forward through more ambitious stewardship and accelerate action on human rights and social issues.

“From tackling global inequalities to preventing damage to the environment which can impact the health of people for generations, we hope Advance will drive positive outcomes for workers, communities, and society at large; supporting investors in fulfilling their own responsibility to respect human rights; and helping the industry manage risks to overall investment returns.”

Each corporate engagement effort is being led by one investor with the support of other collaborators to spread the effort across multiple corporations. It is the first time the PRI has published details of the investors responsible for engagement with listed companies.

For example, Mercy Investment Services — the investment arm of the Sisters of Mercy — is leading engagement activity with US-based Duke Energy. It will be supported by five other investors: PIMCO, Western Asset, EOS at Federated Hermes, La Française Group, and the UK’s Pension Insurance Corporation.