pg. 5
"The following are some case study examples of our related engagement work from 2020:
We provided feedback to the Investor Alliance on the development of an Investor Toolkit for Human Rights. We joined a collaborative investor initiative called ‘Find it, Fix It, Prevent It’ focused on increasing the effectiveness of corporate action against modern slavery and engaged with companies as part of this group. The International Labour Organization estimates that 25 million people globally are in a condition of forced labour. Many of these people appear in companies’ supply chains, and half of them are exploited through debt bondage. Migrant workers are particularly vulnerable through the payment of recruitment fees.
We were signatories of a joint investor letter to companies with potential links to migrant workers in the United Arab Emirates who found themselves without work, shelter or a way home after losing their contracts due the economic impact of Covid-19. We discussed this with a catering company, which worked hard to provide support until borders re-opened, while ensuring that there was constant communication with teams on the ground.
As part of the Australian Institute of Superannuation Trustees’ virtual 2020 conference, we took part in a panel discussion on the requirements of Australia’s new Modern Slavery Act. We highlighted how companies and funds can embed modern slavery due diligence into their operations and value chains, take action to identify abuses and provide remedies, engage with suppliers or investment companies, and report transparently about these activities.
We are an investor signatory of the Workforce Disclosure Initiative (“WDI”), which calls for transparency from companies on how they manage workers in order to improve the quality of jobs in the operations and supply chains of multinational companies. In 2020 EOS co-hosted a thematic workshop on the changing landscape of human rights due diligence and workforce reporting in the context of Covid-19 with the WDI. EOS presented its engagement approach on human capital and labour rights and shared our engagement experiences of company actions as a result of the ongoing pandemic and the impact on the workforce. We also discussed the best way to prepare for upcoming legislation on the topic and the links between company and investor due diligence."
pg. 5
"EOS engages in active stewardship on behalf of Federated Hermes and third-party clients, providing voting recommendations for AGMs and other shareholder gatherings to achieve our clients’ responsible ownership aims and fulfil their fiduciary duty to be active owners. EOS also screens clients’ aggregate holdings for ESG characteristics. Our Controversial Companies Report highlights to subscribing clients those companies which are considered to be in violation of internationally recognised guidelines, and provides insight into the nature of those guideline violations and a view on engagement with the company on the issues. The list identifies companies that are either in breach of or likely to breach the UN Global Compact Principles. This includes principles relating to human rights and labour, in particular UN Global Compact Principle 4: ‘the elimination of all forms of forced and compulsory labour’. The report also highlights for each company where we are engaging on these issues."