Investing in Mercy January 2017 In this issue Shareholders and companies collaborate to eradicate forced labor Bringing healthy food access to food deserts Newest Medicines Patent Pool agreement gives hope to those with tuberculosis Investors, companies press new administration for climate change progress Shareholders and companies collaborate to eradicate forced labor 1
While human trafficking has become a high profile example of modern day slavery, forced labor is a significant issue in industries ranging from food and beverage companies to agriculture to the hospitality industry. With a deep concern for human rights, Mercy Investment Services has actively worked to end forced labor in the supply chain and to ensure just wages for workers. On January 19, the Interfaith Center on Corporate Responsibility (ICCR) and the Freedom Fund sponsored a multi stakeholder roundtable on ethical recruitment to support companies efforts to ensure that they and their suppliers respect the human rights of workers. In addition to panel discussions addressing challenges on the ground, in government and in industry, companies had the opportunity to share leading practices theyʹve developed and challenges they ve experienced. Shareholders hope that the information shared in the roundtable will serve as a basis for a report on new approaches to ethical recruitment and will guide companies toward a longterm goal of eradicating exploitative recruitment practices, which especially impact migrant workers made vulnerable by economic and social systems. Shareholders are encouraging all companies to implement steps including adopting a policy that prohibits worker paid fees or confiscation of passports, identifying and prioritizing risks by location or product, performing audits of internal practices and key suppliers, and collaborating within and across sectors. During the 2017 shareholder advocacy season, Mercy Investment Services is engaging 20 companies on issues related to the fair treatment of workers. Follow our progress online. Bringing healthy food access to food deserts Throughout the United States, more than 23 million people live in food deserts parts of the country that lack access to fresh fruits and vegetables and other healthy whole foods. Mercy Partnership Fund (MPF) supports several organizations committed to meeting the problem of food deserts with sustainable, healthy opportunities: The Fairbanks Co op Market Grocery & Deli (pictured above) is Alaskaʹs first community owned food cooperative, located just a half hour drive from the Arctic 2
Circle. Financed in part by MPF borrower Local Enterprise Assistance Fund, the co op sat in a community with few grocery options, limited transportation, and lower incomes. Now, the market has more than 1,500 member owners and created 20+ new jobs. Treasure Coast Food Bank works to meet the food shortage facing 100,000 people on the south central Florida coast. With an MPF loan to Florida Community Loan Fund, the food bank is renovating a building to house a new program, the Florida Agriculture & Nourishment Collaborative. They plan to partner with 100 local farmers to purchase fresh produce that might otherwise be unused, and will then provide on the job training positions by preparing the items for resale to local schools, and for donations. IFF, a mission driven MPF borrower, has partnered with the full service grocery store chain Save A Lot to impact food deserts. Several food deserts in the Midwest, most recently St. Louis, Missouri, and Milwaukee, Wisconsin, have or will have a Save A Lot providing affordable food with an emphasis on fresh, healthy options. Additionally, Save A Lot will partner with nonprofits focused on providing healthy food awareness and education to the community. Read more about the work of Local Enterprise Assistance Fund, Florida Community Loan Fund, IFF and Mercy Partnership Fund. Newest Medicines Patent Pool agreement gives hope to those with tuberculosis Mercy Investment Services and other shareholders advocating for global access to medicines are encouraged by a significant step from Johns Hopkins University and the Medicines Patent Pool (MPP). An agreement between the two will facilitate the development of the antibiotic sutezolid, used to treat tuberculosis (TB). The World Health Organization (WHO) identifies TB as one of the top 10 causes of death worldwide, and the leading cause for people with HIV. Researchers believe sutezolid could be a key component of treatment for drug resistant or drug sensitive TB. Mercy Investment Services has been an active voice in the call for licensing drugs to the Medicines Patent Pool, which supports our goal of bringing access to medicines to those most in need, says Donna Meyer, director of shareholder advocacy for Mercy Investment 3
Services. We re pleased that Johns Hopkins University has taken this important step, bringing hope to those who experience this life threatening disease. The MPP has signed agreements with eight patent holders for 12 HIV antiretrovirals, one hepatitis C direct acting antiviral and one tuberculosis treatment. Its generic partners have distributed four billion doses of low cost medicines to 125 countries. Mercy Investment Services continues to encourage pharmaceutical companies to license drugs to the MPP to help make life saving drugs such as these available to low income people around the world. Investors, companies press new administration for climate change progress In the days leading up to the January 20 inauguration of President Trump, some of the countryʹs leading institutional investors and companies reiterated their call for the new administration and Congress ʺto support policies to accelerate a low carbon future that will help curb climate change.ʺ As reported in the November issue of Investing in Mercy, Mercy Investment Services was one of the investor signatories. The list of supporters has grown to more than 630 signatories. Letters such as this are just one way shareholders are raising their voices on the issue of climate change. Mercy Investment Services is participating in 28 engagements addressing climate change with corporations, in addition to engagements on water and environmental health. Shareholder advocacy news Impact investing news 4
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