wfn.org | MRTI Committee Reaffirms Priorities Established Last Year

[PCUSA.NEWS@pcusa.org]

28-July-1997 
97298 
 
    Mission Responsibility through Investment Committee 
    Reaffirms Priorities Established Last Year 
 
    by Jerry L. Van Marter 
 
SEATTLE--The General Assembly's Mission Responsibility Through Investment 
Committee (MRTI) has reaffirmed a set of five priorities -- established 
last year -- that will keep Presbyterian Church- related investors focused 
heavily on the environmental impact of the business practices of U.S. and 
transnational corporations. 
 
    MRTI monitors the business practices of corporations in which church 
agencies -- primarily the Board of Pensions and Presbyterian Church 
(U.S.A.) Foundation -- have their money invested and  engages those 
corporations in dialogue and shareholder actions around the social policy 
concerns of the General Assembly. 
 
    The five priority areas reaffirmed for MRTI's attention in the coming 
year: 
 
    *  environment 
    *  community reinvestment and equal credit opportunity 
    *  employment and environmental standards for transnational 
       corporations 
    *  employment-related issues such as affirmative action, pay equity, 
       and safety and health 
    *  media standards and practices 
 
                               Environment 
 
    MRTI has "given an increasing amount of attention to environmental 
issues in recent years," according to chair the Rev. Harry Smith of Santa 
Fe, N.M. 
 
    The key focus of MRTI's efforts has been on the issues of toxic 
pollution of air, soil and water, and global climate changes brought on by 
pollution.  Companies chosen for monitoring have included those producing 
petrochemicals, paper and forest products, electronics, semiconductors and 
utilities. 
 
    The committee has cooperated with other religious and environmental 
groups to press companies to endorse standards of corporate conduct, such 
as the CERES Principles, guaranteeing corporate practices that safeguard 
the environment. 
 
    Companies on the environmental focus list include Advanced Micro 
Devices, Chevron, Tosco (formerly UNOCAL), International Paper, Motorola, 
Niagara Mohawk, Texas Instruments, Intel, Sun Microsystems, Hewlett 
Packard, Texas Utilities, Allstate, Chubb and General Re. 
 
 
               Community reinvestment and equal credit opportunity 
 
    The goal of MRTI's efforts here has been to increase access to capital 
that is critical to the revitalization of distressed communities. 
 
    This effort has focused on compliance with the Community Reinvestment 
Act, which requires banking institutions to meet the credit needs of their 
entire communities, including low- and moderate- income families and small 
businesses. 
 
    According to the Rev. William Somplatsky-Jarman "some religious groups 
have begun to look into homeowners and mortgage insurance companies," 
believing that some may be refusing policies to homeowners in certain 
communities in much the same way that banks have "redlined" certain 
neighborhoods, making mortgages impossible to secure in them. 
 
    The committee decided to continue ongoing dialogue with Countrywide 
Credit, Golden West, Norwest and Chase banks and to initiate dialogue with 
Temple-Inland Corporation and NationsBank. 
 
    Employment and environmental standards for transnational corporations 
 
    MRTI's work in this area has focused primarily upon the operations of 
U.S. corporations along the Mexican border -- the "maquiladoras."  Issues 
addressed include working conditions in the plants, wages and benefits paid 
to Mexican workers, disposal of wastes in local communities and investment 
in community infrastructure where the plants are located. 
 
    Efforts to address "maquiladora" issues are broadly ecumenical.  MRTI 
has been asked by its partner churches to take the lead in establishing 
dialogue with three companies -- Lands' End, Mattel and Warnaco.  The 
committee also voted to co-file shareholder resolutions with Nike and 
Disney. 
 
                         Employment-related issues 
 
    For many years, MRTI has addressed such employment-related issues as 
equal employment opportunity (EEO), affirmative action, pay equity and 
occupational health and safety. 
 
    Somplatsky-Jarman noted that "raising these issues with companies has 
become more difficult in recent years" due to a Securities and Exchange 
Commission ruling that such issues are "normal business" and therefore not 
eligible for shareholder action. 
 
    The ecumenical community has focused largely on EEO disclosure and 
diversity on boards of directors in its conversations with corporations, 
and MRTI voted to continue an ongoing dialogue and shareholder action with 
American International Group. 
 
                         Media standards and practices 
 
    A broadly ecumenical campaign was undertaken last year to press for a 
detailed ratings system for television programming.  Religious 
representatives met with industry groups and governmental officials, and 
General Assembly stated clerk the Rev. Clifton Kirkpatrick filed a formal 
comment with the Federal Communications Commission after the television 
industry announced "a very weak" proposal based on the movie industry 
ratings format. 
 
    Continued pressure by the religious community and others, 
Somplatsky-Jarman said, has led the industry to revise its ratings system 
by adding letters to the system that will indicate the presence of 
violence, adult language, sexual situations and adult themes in television 
programs. 
 
    Only NBC has indicated an unwillingness to go along with the expanded 
ratings system, but has agreed to continue meeting with religious 
representatives on the issues.  MRTI voted to continue that dialogue. 

------------
For more information contact Presbyterian News Service
  phone 502-569-5504             fax 502-569-8073  
  E-mail PCUSA.NEWS@pcusa.org   Web page: http://www.pcusa.org 
  mailed from World Faith News <wfn-news@wfn.org>  

--