By Reed Montague
of Calvert Investments
Calvert Investments (www.calvert.com) launched its Indigenous Peoples’ rights stand-alone criteria in 1999, making it the nation’s first asset manager with a separate comprehensive approach on such issues. The criteria formally articulated the company’s commitment to address the basic rights and fundamental freedoms that Indigenous People deserve and which were regularly being violated, including sovereignty and intellectual property rights. Previously, Calvert had considered these issues as part of a broader set of human rights criteria. This specialized criteria, created one of the very first mechanisms in advocating for Indigenous Peoples’ rights at companies, elevating the prominence of such issues and supporting their efforts to be heard in the corporate boardroom, where they were poorly represented at the time. Given that Indigenous Peoples often live in areas that contain the world’s last untapped resources, their communities were increasingly under assault by global corporations.
Calvert developed its Indigenous Peoples’ rights criteria with input from Calvert Funds board member Rebecca Adamson, a Cherokee, former president of First Nations Development Institute and now head of First Peoples Worldwide. The company also consulted with representatives from several other organizations recognized for American Indian economic development and advocacy in the process of finalizing its broad multi-pronged criteria. Since then, the criteria on Indigenous Peoples’ rights, as with the company’s overall responsible investment approach, continues to evolve.
Other investment firms have also developed specific criteria on Indigenous Peoples’ rights, including Boston Common, Trillium Asset Management, and Walden Asset Management. In addition, the Oneida Nation of Wisconsin’s Trust Committee first began considering these issues in 1994 and began engaging Walmart over sacred sites/burial ground issues in 1999. Both individually and collectively, Oneida and these firms have engaged numerous companies, furthering the rights of Indigenous Peoples and heightening the sensitivity and awareness of such companies as they impact Indigenous Peoples around the globe.
Although challenges remain, awareness of the rights of Indigenous Peoples has significantly increased. Responsible investment firms have encouraged various oil and gas companies to develop policies that require them to consider their impacts on Indigenous communities. To date, Conoco Phillips, ExxonMobil, Suncor Energy, and Devon Energy have done so. Responsible investment firms also supported the UN Declaration on the Rights of Indigenous Peoples (UNDRIP), signed by President Obama in December 2010, with the U.S. being the last country to do so. UNDRIP sets out both individual and collective rights of Indigenous Peoples’ as well as their rights regarding a variety of issues including access; consultation and Free, Prior and Informed Consent; culture and language; economic development; education; health; individuals; intellectual property; lands, territories and resources; non-discrimination; self-determination; social welfare; and state obligations.
In another example, Pebble Mine – a proposed copper, gold, and molybdenum mine to be situated at the headwaters of the Bristol Bay Fishery in Alaska, which would have been owned by Anglo-American, Rio Tinto and Northern Dynasty – was challenged by investors, environmental groups and tribes, with six petitioning the EPA to invoke a little used provision of the Clean Water Act to block development. Probably the most powerful opponent of the mine was the Alaska Native Corporation, representing Alaskan natives and their tribes. The watershed produces half the world’s commercial supply of wild sockeye salmon and the EPA estimated that the proposed open pit mine would cause significant negative impacts. Thirty investors sent a letter to the EPA commenting on its draft assessment and urging it to review mining activity in that area, and engaged directly with Anglo-American and Rio Tinto, emphasizing not only the environmental impact but also how Indigenous communities would be affected and the associated risk to the mining companies. These two major mining companies each decided to cease their involvement with the proposed mine. In 2014, the EPA initiated a process to protect the fishery from mining activities under the Clean Water Act. While the EPA action has been challenged in court, the agency’s move was a major victory for those concerned about the potential impacts of the mine on the way of life and the environment in Bristol Bay.
In the nearly two decades since Calvert launched its Indigenous Peoples’ rights criteria, some progress has been made, although more work remains. Many tribes are more now knowledgeable in engaging with corporations. They chart new territory, understand media impact, and demonstrate savvy investment and activism skills – all while blazing new trails for others to follow. In some instances, companies are more willing to listen and engage both with investors and Indigenous Peoples on the issues and rights that matter most. Meanwhile, investors continue to support key issues that respect the rights and needs of Native peoples, while also offering support on policy issues. Until such time as these issues can be fully resolved and our societies value all perspectives equally, responsible investors will continue to have a valuable role in the support of Indigenous Peoples and their rights.
For more information on how your investments or those of your clients can better support Indigenous Peoples’ rights, please visit the Indigenous Peoples Working Group of U.S. SIF at http://www.ussif.org/ipwg
(#14896, 06/2015)
Article by Reed Montague, Sustainability Analyst at Calvert Investments, Inc. where she specializes in Indigenous Peoples’ rights, particularly around offensive images, and product marketing issues. She also specializes in the healthcare and media industries and her advocacy activities have focused on increasing sustainability disclosure and Indigenous Peoples’ rights. In addition, she works on a variety of projects that further the company\’s sustainability. Previously, she managed the company\’s relationship with the Calvert Social Investment Fund Advisory Council for many years, handled strategic partnerships and helped launch the Calvert Foundation. Prior to joining Calvert, she worked in the fields of business ethics and international trade. She earned a BA in Psychology and Yugoslav Studies from Connecticut College and is FINRA Series 7 licensed.
