Religious Investors Ask Wal-Mart Review Social, Economic Policies
NEW YORK (CNS) — A group of religious orders and other investors is asking the retail giant Wal-Mart to assess the company’s policies and practices in light of their “social, environmental and economic sustainability.”
A resolution filed for shareholder action said Wal-Mart, which will hold its annual stockholder meeting June 3 in Fayetteville, Ark., is facing widespread “negative public perceptions” about its operations.
“Wal-Mart’s business success is dependent on its domestic and global workers receiving a sustainable living wage to meet their basic needs, and the environmental viability of the communities in which the company operates,” the resolution added.
The Shareholder Association for Research and Education, an agency based in Vancouver, British Columbia, said in a report earlier this month that Wal-Mart activity had drawn concern in Canada as well as the United States. The agency helps pension funds build sound investment practices that protect beneficiaries but also contribute to a “just and healthy society.”
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