Praxis among early signatories of ICCR Investor Statement on Coronavirus Response
Company leadership urged to uphold policies that care for employees in face of COVID-19 crisis
Praxis Mutual Funds®, a leading faith-based, socially responsible family of mutual funds from Everence® Financial, is proud to be an instigator and early signatory of the Interfaith Center on Corporate Responsibility’s (ICCR) COVID-19 Investor Statement On Coronavirus Response. The recently published statement calls upon company leadership to uphold policies that care for employees, customers and suppliers in the face of the COVID-19 global humanitarian crisis.
As a signatory, Praxis joins a strong and growing coalition of 195 institutional investors representing over $5 trillion USD calling upon companies to (1) provide paid leave to all employees, (2) prioritize health and safety, (3) maintain employment, (4) maintain supplier and customer relationships, and (5) exercise financial prudence.
This effort is based on the principle that the most vulnerable stakeholders must be protected in order to ensure the long-term welfare of companies, investors, and the global economy, as well as basic social stability. Praxis is proud to have contributed to the conception and early development of this campaign.
“The COVID-19 crisis provides a vivid example of how the growing economic and health-care insecurity of low- and moderate-income Americans threatens national success and security,” said Mark Regier, Vice President of Stewardship Investing. “The vulnerable employees of impacted corporations are partners in the economy that benefits us all; supporting them throughout this time of crisis will provide the best circumstances for a successful economic restart once the pandemic is over. To that end, Praxis’s participation in this campaign for stakeholder wellbeing is a critical step towards protecting the economy from long-term damage.”
As the crisis continues to unfold, Praxis will promote this campaign in an effort to encourage a cross-industry norm of adherence to the basic principles of stakeholder protection, as executive leadership across the country and around the world reacts to the new challenges presented by COVID-19. To learn more about ICCR’s statement, visit here.
For more information on Praxis Mutual Funds’ response to the COVID-19 pandemic, visit here.
About Praxis Mutual Funds
Founded in 1994, Praxis Mutual Funds is a leading faith-based, socially responsible family of mutual funds designed to help people and groups integrate their finances with their values. Praxis is the mutual fund family of Everence Financial, a comprehensive faith-based financial services organization helping individuals, organizations and congregations. To learn more, visit praxismutualfunds.com and everence.com, or call 800-348-7468.
About the Interfaith Center on Corporate Responsibility (ICCR)
Currently celebrating its 49th year, the Interfaith Center on Corporate Responsibility pioneered the use of shareholder advocacy to press companies on environmental, social, and governance issues. The ICCR’s coalition of over 300 global institutional investors currently represents more than $500 billion in managed assets. Leveraging their equity ownership in some of the world’s largest and most powerful companies, ICCR members regularly engage management to identify and mitigate social and environmental risks resulting from corporate operations and policies.