ALERT: Social Proxy Resolution
Company: Exxon-Mobil Corporation
Ticker Symbol: XOM
Meeting Date: May 28th, 2003
Record Date: April 7th, 2003
Type: Global Corporate Accountability
Issue: Human Rights Review
Primary Filer: Amnesty International
Text of Proposal:
 We believe that transnational corporations operating in countries with repressive governments, ethnic conflict, weak rule of law, endemic corruption, or poor labor and environmental standards face serious risks to their reputation and share value if they are seen to be responsible for, or complicit in, human rights violations; and,
Our company (Exxon Mobil Corporation) operates in several countries where allegations of serious human rights violations have been made including: Angola, Cameroon, Chad, Colombia, Equatorial Guinea, Indonesia, and Nigeria; and,
We believe our company does not possess a comprehensive, transparent and verifiable human rights policy that would enable it to effectively manage and avoid these risks; and,
The United Nations Universal Declaration of Human Rights (1948) is recognized as the basic international standard for human rights; and,
Several of our company's major competitors have already adopted a comprehensive human rights policy based upon the Universal Declaration of Human Rights; and,
We believe that significant commercial advantages may accrue to our company by adopting a comprehensive human rights policy including: enhanced corporate reputation, improved employee recruitment and retention, improved community and stakeholder relations, and reduced risk of adverse publicity, consumer boycotts, divestment campaigns, and lawsuits;
THEREFORE BE IT RESOLVED
That the shareholders request the Board of Directors of Exxon Mobil Corporation to review its policies related to human rights and its plan to implement that policy;
BE IT FURTHER RESOLVED
That the shareholders request the Board of Directors to prepare a report, prepared at reasonable expense and omitting proprietary information, on this review including changes in the policy and the implementation plan and make it available to shareholders no later than November 1, 2003.
SUPPORTING STATEMENT:
We believe that any adequate company human rights policy should be comprehensive, transparent, verifiable and incorporating an explicit commitment to support and uphold the principles and values contained in the Universal Declaration of Human Rights as well as including consideration of the following:
1. Workplace standards based upon the core conventions of the International Labor Organization (ILO Conventions No. 29, 87, 98, 100, 105, 111, 138, and 182).
2. A policy on the use of security personnel, both private security and security forces provided by the government of a host country, that is based upon and consistent with internationally accepted human rights norms, such as the U.N. Code of Conduct for Law Enforcement Officials.
3. A policy requiring a human rights and social impact assessment to be conducted prior to our company's decision to invest in countries that are experiencing civil conflict or which have poor human rights records, as evidenced by credible reports by independent human rights organizations or by the annual country reports on human rights prepared by the U.S. Department of State.
4. A plan for implementing these commitments and policies throughout our company's global operations that provides for a secure and independent complaint mechanism, provisions for consultation with local affected communities, provisions for social auditing by credible independent agencies, and provisions for annual public reporting.
Company Response:
The Board recommends you vote AGAINST this proposal for the following reasons:
ExxonMobil condemns human rights violations in any form. The existing Standards of Business Conduct are the foundation policies for the Corporation and set the tone for the conduct of each ExxonMobil location around the world.
Our Standards of Business Conduct are consistent with the spirit and intent of the principles set forth for governments in the Universal Declaration of Human Rights to the extent that the provisions are relevant to private entities.
Our systematic approach to security and operations management provides the framework for implementing our belief that security and respect for human rights can and should be consistent.
ExxonMobil's Corporate Citizenship Report details how we meet our commitment to communities and society. It enables interested parties to learn about our actions.
We are participating in the Voluntary Principles on Security and Human Rights dialogue with the aim of sharing our best practices and learning from others.
The Voluntary Principles dialogue is an initiative of the governments of the United States, the United Kingdom, Norway, and the Netherlands in conjunction with participating companies and non-government organizations. Each participant recognizes the importance of promoting and protecting human rights throughout the world and the constructive role that business and civil society can play in advancing these goals.
We contribute to furthering human rights by enhancing economic and social well-being. Numerous community-based initiatives to develop institutional capacities in health and education receive our support. We work to promote the rule of law. Our training of local employees and contractors helps us build capacity and competency for local economic growth. These initiatives are fundamental to the universal enjoyment of human rights.
ExxonMobil condemns human rights violations in any form and makes that clear, especially in those countries beset by conflict. We believe our stand on human rights sets a positive example for governments in the countries in which we operate.
Our long-standing Ethics Policy prohibits bribery and corruption. All employees and agents of the Corporation are required to comply with the Ethics Policy. Social impact assessments are routinely done as part of our investment decision process. Involving the community in early stages of project development ensures that local issues are recognized and addressed.
We understand the importance of continued dialogue and consultation with interested and affected parties. Virtually all our facilities have ongoing community dialogue in the normal course of doing business. These activities vary based on local government requirements and the needs and desires of local residents.
PAM Recommends:
Voting IN FAVOR of this resolution.Global manufacturing, resource extraction, financial services, and other companies face complex issues arising from the diverse cultures and political and economic contexts in which they operate. Shareholders have asked companies to develop, adopt, and continually improve codes of conduct to guide company policies, programs, and operations, both within and outside their cultures of origin, and to publicly report these policies. Shareholders believe these codes should include policies designed to ensure the protection of the environment and human rights, the payment of just wages, the maintenance of safe working conditions, the avoidance of child and forced labor, and freedom of association. Shareholders often ask companies to adhere to policies that conform with the International Labor Organization's Core Conventions and the United Nations Universal Declaration on Human Rights. PAM supports these resolutions.
Top Institutional Owners:
Vanguard 500 Index Fund
College Retirement Equities Fund-Stock Account
Fidelity Magellan Fund Inc
SPDR Trust Series 1
Vanguard Institutional Index Fund-Institutional Index Fd
BWK Aktien Strategie International
Putnam Fund For Growth And Income
Washington Mutual Investors Fund
Putnam Utilities Growth And Income Fund
Fidelity Growth & Income Portfolio
Contact:
Neil Stallings, Director of Shareholder Advocacy
(E): nstallings@fwg.com
(T): 510/622-0202 x201
Back to Shareholders AS Activists > > >
Progressive Asset Management (PAM) is the
socially responsible division of Financial West Group (FWG).
Securities offered
through Registered Representatives of
Financial West Group, Member
FINRA,
SIPC. FWG is responsible for
supervision and oversight of the registered representatives listed on this site.
Progressive Asset Management 520 Third Street, Suite 204, Oakland, CA 94607
(510) 622-0202
|
