At the end of March, the United Nations Principles for Responsible Investment (PRI) published a guidance on how responsible investors should respond to the pandemic crisis COVID-19, in an effort to mitigate the social and economic consequences caused by the Coronavirus.
The PRI emphasizes that this crisis will not only impact the global health but it will also impact our local communities, economies and investments, and that as “long-term stewards of capital, investors can and should act now to help reduce harmful impacts”1.
The seven immediate actions suggested by the PRI include:
- Engage companies that are failing in their crisis management
- Engage where other harm is being hidden behind, or worsened by the crisis
- Re-prioritize engagement on other topics
- Publicly support an economy-wide response
- Participate in virtual AGMs (Annual General Meetings)
- Be receptive to requests for financial support
- Maintain a long-term focus in investment decision making
These unprecedented times require collaboration, support, and long-term assessment, and as a PRI signatory CCM has already taken some steps that align with their recommendations. For recent CCM updates on COVID-19, please visit our information center page at: https://www.ccminvests.com/covid-19-information-center/