Pushed by the Dobbs determination, traders looking for motion on advantages, knowledge privateness, political spending, and extra
SAN FRANCISCO, Jan. 24, 2023 /PRNewswire/ — In coordination with Rhia Ventures, traders have filed thirty-one (31) shareholder proposals addressing the intersections between company coverage and reproductive well being care, greater than doubling the quantity of final yr’s exercise.
The proposals addressed employer-provided insurance coverage and advantages, knowledge privateness, political spending, and associated issues in numerous industries.
This yr’s filings construct on a shareholder initiative launched in 2019. “Rhia Ventures is working with a community of institutional traders who’re intent on seeing that the businesses they maintain of their portfolios do all they will to make sure entry to one of the best reproductive and maternal well being care,” mentioned Rhia Ventures director of company engagement Shelley Alpern. “Collectively, these traders have engaged with quite a few firms to drive adjustments in coverage and apply.” Earlier than this yr, traders had collectively filed 28 shareholder proposals on this matter.
Within the 2022 proxy season, earlier than final yr’s US Supreme Courtroom determination ending the constitutional proper to abortion protections (Dobbs v. Jackson Ladies’s Well being Group), eleven proposals got here to a vote regarding entry to reproductive well being care. These proposals garnered important assist (30-47% of votes solid). For the reason that June ruling, greater than 200 companies have publicly disclosed or acknowledged improved advantages to assist their workers as they navigate mounting obstacles to accessing abortion and different types of reproductive well being care. Rhia Ventures maintains a web-based database monitoring these bulletins at #WhatAreYourReproBenefits).
This yr’s proposals fall into a number of classes:
- Ten proposals deal with company assist for politicians and political committees looking for to disclaim entry to reproductive well being care in contradiction to their said values.
- 9 proposals deal with threats to the privateness of reproductive well being knowledge collected and maintained by firms.
- Six name upon firms to report back to shareholders on the dangers posed to their firms by restrictive state insurance policies and any methods they’re enterprise to reduce or mitigate these dangers.
- Proposals had been filed at two hospital firms regarding their insurance policies round offering abortions.
- Three medical health insurance firms acquired proposals regarding their plan choices regarding abortion and contraception.
- A proposal encouraging robust maternal well being care advantages was filed at one retailer.
Hyperlinks to the proposal are appended beneath.
The proposals be aware that past an ethical obligation to deal with these points, enterprise pursuits are in danger. With elevated competitors for items and companies amidst globalized markets, shoppers assist firms that deal with employee wants and significant reproductive well being care and abortion entry. And the disconnect between political spending and said values can harm the popularity and diminish the model worth and relations with purchasers, shoppers, and different stakeholders.
“We all know that one in 4 ladies may have an abortion in her lifetime. We consider that firms succeed when their workers thrive,” mentioned David Shares, government director at The Instructional Basis of America. “We perceive that state abortion bans impression firms by forcing their workers to take important day without work from work and spend a whole bunch of {dollars} touring out of state. That is why it is essential to EFA that firms assist their workforce and rethink their contributions to politicians harming their workers by enacting abortion bans.” The Basis has filed proposals at three firms this yr.
Dr. Ruth Shaber, founder and president of Tara Well being Basis, mentioned, “The Dobbs determination has dealt a horrible blow to the supply of reproductive well being care. We’re calling on firms to do all they will to mitigate these impacts.” Tara Well being Basis is the sponsor of 5 shareholder proposals this yr.
“The US has chosen to make firms answerable for the well being of their workers by employer-based medical health insurance. Within the wake of the Dobbs determination, which means firms have a necessary function to play in guaranteeing that everybody has entry to full spectrum reproductive well being care, together with abortion entry,” mentioned Dorrit Lowsen, co-chief government officer at Change Finance, which filed knowledge privateness proposals at three firms.
“Defending reproductive rights is essential to ladies’s well being, but it surely’s additionally a enterprise crucial,” mentioned Natasha Lamb, managing accomplice at Arjuna Capital. “And in a post-Dobbs world, many firms are uncovered to a brand new established order that threatens their workforce and clients. Buyers wish to understand how they may reply by updating well being advantages, privateness insurance policies, and aligning their political spending to assist their commitments to range, fairness, and inclusion.” Arjuna Capital has filed proposals at 5 firms.
Rob Fohr, director of faith-based investing and company engagement for the Presbyterian Church USA, mentioned that the Church “has had a coverage in place supporting reproductive justice for many years. Because the entry to reproductive well being care has change into extra restricted, the PCUSA has made extra statements supporting reproductive justice whereas recognizing that poor, younger, or homeless individuals of colour are at a better drawback to discovering the care they want.”
“An organization’s management is answerable for competently dealing with advanced points, notably when these points are controversial. As traders, we anticipate them to not flip a blind eye to reproductive well being care. Firms must be proactive in demonstrating to traders that they perceive that reproductive well being is a enterprise subject. There are not any firms with out feminine workers or shoppers,” said Meredith Benton, principal at Whistle Cease Capital, a consultancy that supported Nia Influence Capital and As You Sow in submitting shareholder resolutions at seven firms.
Rhia Ventures is a social impression group that leverages the non-public sector to advance equitable reproductive and maternal well being outcomes for ladies and different birthing individuals within the US. Our Company Engagement program works with institutional traders to advertise company duty concerning all reproductive and maternal well being features.
The names of some firms which have acquired proposals have been withheld as a result of the proponents are in delicate discussions with firm administration.
CONTACT: Michael Ceraso, [email protected]
SOURCE Rhia Ventures
