New York State Common Retirement Fund, Albany, on Tuesday announced the filing of shareholder resolutions with five corporations calling for greater support for workers' rights, including collective bargaining.
"The right to join unions, without interference, and collectively bargain can help improve workers' health and safety, as well as increase their training, skills and productivity," Thomas P. DiNapoli, the state comptroller and sole trustee of the $233.2 billion state pension fund, said in a news release.
"It's in the companies' own interests, and in the long-term interests of shareholders, to ensure workers are treated fairly," he said.
Resolutions were filed with Walmart, CVS Pharmacy, Netflix, Door Dash, and Gannett Co.
Excluding Gannett, the New York City Retirement Systems joined in filing the resolutions.
"Aggressive anti-union practices that spill into the press, violate labor laws, or contradict a company's own policies can pose reputational and financial risks for businesses," said Brad Lander, the city comptroller, in a separate statement. Mr. Lander is the fiduciary for the five pension funds within the $243.6 billion city pension system.
"Long-term value is dependent on the wellbeing of a company's workforce, and we expect portfolio companies to act accordingly," he said.
The Walmart and CVS resolutions ask their board of directors to hire an independent third party to assess companies' workers' rights practices.
Resolutions filed with the other companies requested their boards to adopt and publicly disclose a policy on their commitment to respect their employees' rights to freedom of association and collective bargaining in their operations," the news release said.
