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| Investors push gun companies for 'immediate, positive' steps to end violence | Investors push gun companies for 'immediate, positive' steps to end violence |
| (about 1 hour later) | |
| A group of 142 institutional investors on Thursday called on gun manufacturers, retailers and other companies with ties to the gun industry to take “meaningful action” to address the US’s epidemic of gun violence in the wake of February’s mass shooting in Florida. | A group of 142 institutional investors on Thursday called on gun manufacturers, retailers and other companies with ties to the gun industry to take “meaningful action” to address the US’s epidemic of gun violence in the wake of February’s mass shooting in Florida. |
| The statement, which says “the moral case for action grows more urgent each day”, was drafted by the Interfaith Center on Corporate Responsibility (ICCR), a coalition of global institutional investors. It has been signed by US and European investors including the UK’s Hermes that together manage over $634bn in assets. | The statement, which says “the moral case for action grows more urgent each day”, was drafted by the Interfaith Center on Corporate Responsibility (ICCR), a coalition of global institutional investors. It has been signed by US and European investors including the UK’s Hermes that together manage over $634bn in assets. |
| Sister Judy Byron of the Northwest Coalition for Responsible Investment said: “As investors who have been engaging the companies in our portfolios on this issue for many years, we see this moment as an inflection point: companies that want to exhibit corporate citizenship and play a positive role in society need to get off the sidelines and take a public stand in favor of improved gun safety.” | Sister Judy Byron of the Northwest Coalition for Responsible Investment said: “As investors who have been engaging the companies in our portfolios on this issue for many years, we see this moment as an inflection point: companies that want to exhibit corporate citizenship and play a positive role in society need to get off the sidelines and take a public stand in favor of improved gun safety.” |
| The statement identifies a series of commitments that companies should consider to protect their employees, consumers and communities, including ending any commercial relationships or promotional ties with the NRA. | The statement identifies a series of commitments that companies should consider to protect their employees, consumers and communities, including ending any commercial relationships or promotional ties with the NRA. |
| Several companies including Best Western, Delta and Hertz ended discount deals for NRA members following the fatal shooting at the Marjory Stoneman Douglas high school in Parkland, Florida, last month. | |
| Retailers Dick’s Sporting Goods and Walmart also moved to end sales of guns to anyone under the age of 21. | Retailers Dick’s Sporting Goods and Walmart also moved to end sales of guns to anyone under the age of 21. |
| Colleen Scanlon of Catholic Health Initiatives said: “Gun violence in the US is a public health and human rights crisis with extraordinary and escalating human and economic costs, and hospitals are on the forefront of this crisis. While gun manufacturers and retailers are most exposed to the risks and controversies, there is a positive role to be played by all companies to help stem the tide of deaths due to gun violence.” | Colleen Scanlon of Catholic Health Initiatives said: “Gun violence in the US is a public health and human rights crisis with extraordinary and escalating human and economic costs, and hospitals are on the forefront of this crisis. While gun manufacturers and retailers are most exposed to the risks and controversies, there is a positive role to be played by all companies to help stem the tide of deaths due to gun violence.” |
| Among other proposals the investors are calling for gun manufacturers to publicly endorse the “Sandy Hook principles” – a set of guidelines drawn up after the murder of 20 children and six adults at a Connecticut school in 2012. | Among other proposals the investors are calling for gun manufacturers to publicly endorse the “Sandy Hook principles” – a set of guidelines drawn up after the murder of 20 children and six adults at a Connecticut school in 2012. |
| Those principles include greater restrictions on firearm and ammunition sales, stricter background checks and a re-evaluation of the sale of military-style assault weapons. | |
| The investors are also asking for retailers to: | The investors are also asking for retailers to: |
| Stop the sale, production, design or conversion of military style semi-automatic assault weapons and associated accessories and components, including high capacity magazines, for use by civilians. | Stop the sale, production, design or conversion of military style semi-automatic assault weapons and associated accessories and components, including high capacity magazines, for use by civilians. |
| Limit gun and ammunition sales to purchasers 21 and over. | Limit gun and ammunition sales to purchasers 21 and over. |
| Reinforce background checks as referenced above. | Reinforce background checks as referenced above. |
| End the sale of realistic toy guns and air rifles marketed to children. | End the sale of realistic toy guns and air rifles marketed to children. |
| The statement finishes by saying: “In the coming months we will be engaging with companies we own to urge immediate and positive action that addresses gun violence.” | The statement finishes by saying: “In the coming months we will be engaging with companies we own to urge immediate and positive action that addresses gun violence.” |
| The move comes after the ICCR launched a campaign to push shareholders in the two largest US gun manufacturers, American Outdoor Brands and Sturm Ruger, to tighten up their gun safety policies. | The move comes after the ICCR launched a campaign to push shareholders in the two largest US gun manufacturers, American Outdoor Brands and Sturm Ruger, to tighten up their gun safety policies. |
| US gun control | US gun control |
| Break the cycle | Break the cycle |
| Florida school shooting | Florida school shooting |
| Investing | Investing |
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