MIE Virtual Brown Bag #7: Addressing the Opioid Crisis Through Investments
MIE member Mercy Investment Services, the socially responsible asset management program for the Sisters of Mercy of the Americas and their ministries, has a long history of using its shareholder voice as part of an integrated impact investing strategy. In response to the growing opioid crisis, in 2017 Mercy Investment Services co-founded the Investors for Opioid Accountability (IOA), a diverse coalition of 54 investors with $3.5 trillion in assets under management.
Two years after its formation, the IOA has filed more than 40 resolutions with 16 companies, successfully defended against company challenges at the Securities and Exchange Commission, gained the recommendations of proxy advisors, and achieved significant and often majority votes. The coalition has made a strong business case for the financial and reputational risks faced by opioid manufacturers, distributors, and retailers, and garnered extensive national media coverage for its work. This Virtual Brown Bag will explain how organizations can use the power of their investments to pressure companies to uphold their responsibility to the people and communities they serve.
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