EEP_INT_AR_2023_EN_FINAL_short

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ACTIONS AND RESULTS IN 2023 • Following a constructive dialogue, Swisscom published principles for the ethical use of artificial intelligence at the beginning of the year. • In 2024, the campaign will focus on the implementation of these principles and their impact on human rights. 6.18 ADVANCE – INVESTOR INITIATIVE FOR HUMAN RIGHTS AND SOCIAL ISSUES CONTEXT AND OBJECTIVES The EEP International and a group of institutional investors, coordinated by PRI, joined the Advance Investors initiative for human rights and social concerns in June 2022. This five-year collaborative engagement campaign was officially launched on 1 December 2022 and calls on 40 companies in the metals and mining and renewable energy sectors to promote human rights and implement the UN Guiding Principles on Business and Human Rights. The campaign is supported by 220 institutional investors with USD 30’000 billion in assets under management. ACTIONS AND RESULTS IN 2023 • Ethos conducted a total of four conference calls with ENGIE and E.On, for which Ethos acted as co-leader. • Several discussions were held with various stakeholders in order to gain a comprehensive view of the human rights issues facing the two companies. 6.19 INVESTOR LETTER FOR EU CORPORATE SUSTAINABILITY DUE DILIGENCE DIRECTIVE CONTEXT AND OBJECTIVES In November 2022, the EEP International and a group of institutional investors issued a statement in support of an ambitious and effective European Corporate Sustainability Due Diligence Directive. The statement contains five key recommendations aimed at making the directive ambitious and consistent with the European Union's sustainable development objectives as well as international standards such as the United Nations Guiding Principles on Business and Human Rights and the OECD Guidelines for Multinational Enterprises. The statement is coordinated by PRI, Eurosif and IAHR. • After the Council agreed on a general approach to the CSDD, negotiations continued intensively in 2023. • Finally, in December, the Council and Parliament reached agreement on the Directive on corporate duty of care. • The duty of care extends to the entire chain of a company's activities and concerns its upstream commercial partners as well as, in part, downstream activities (distribution or recycling). • Financial services are temporarily excluded from the scope of the directive. However, there is a review clause for the possible future inclusion of the downstream financial sector. • This campaign was closed this year. 6.20 INVESTOR STATEMENT FOR A MEANINGFUL EU ARTIFICIAL INTELLIGENCE ACT CONTEXT AND OBJECTIVES In February 2023, the EEP International joined a group of institutional investors coordinated by IAHR to send a letter to the European Commission in which the signatories called for meaningful legislation on artificial intelligence (AI). This law aims to establish requirements for artificial intelligence based on its potential risks and impacts. ACTIONS AND RESULTS IN 2023 • The law classifies AI models into three categories according to risk: low, limited and high. • High-risk AI models must meet stringent requirements, such as mandatory studies on the impact on fundamental rights, and maximum transparency in the training and use of these models. • The law also mentions unacceptable uses of AI that are totally banned in Europe, such as social credit scoring. • The bill will undergo a technical review before being put to the vote. • The campaign was closed this year. ACTIONS AND RESULTS IN 2023 34
ENGAGEMENT POOL INTERNATIONAL SUMMARY OF 2023 ACTIVITIES 6.21 BIG TECH AND HUMAN RIGHTS INVESTOR COLLABORATION CONTEXT AND OBJECTIVES In February 2023, the EEP International and a group of institutional investors, coordinated by the Ethical Council of Sweden, launched an engagement campaign with technology companies to encourage them to mitigate human rights and social risks and impacts in their operations. The campaign, which will run for three years, is based on the investor expectations published by the Swedish National Pension Fund Ethics Board, the United Nations Guiding Principles on Business and Human Rights, lessons learned from the RDR assessment and relevant standards from the Sustainability Accounting Standards Board (SASB). The campaign engages with seven selected leading technology companies. The campaign is supported by around thirty institutional investors with USD 6’400 billion in assets under management. 6.23 INVESTOR STATEMENT ON BUSINESS ACTIVITIES AND HUMAN RIGHTS IN IRAN CONTEXT AND OBJECTIVES In March 2023, the EEP International joined a campaign coordinated by the Regroupement pour la Responsabilité Sociale (RRSE), Aequo and the IAHR to issue an investor statement calling on companies to support human rights in Iran. ACTIONS AND RESULTS IN 2023 • Participation in a conference in June with international investors and human rights organisations, which led to the creation of a crosssector working group. • The campaign was closed this year. ACTIONS AND RESULTS IN 2023 • Ethos has a role of supporter of five companies: Alphabet, Amazon, Apple, Meta and Microsoft. • Letters or emails were sent to the companies outlining the objectives of the engagement. • Several exchanges took place with four of the seven companies. 6.22 TECH AND MENTAL HEALTH INVESTOR ENGAGEMENT CONTEXT AND OBJECTIVES In March 2023, the EEP International joined a group of institutional investors launching an engagement campaign with technology companies to encourage them to reduce the potential negative impacts of their technologies. The campaign is coordinated by Sycomore Asset Management and AXA Investment Managers. 6.24 SUPPORT LETTER FOR A BAN OF NON- COMPETITION CLAUSES IN THE US CONTEXT AND OBJECTIVES In April 2023, the EEP International joined a group of institutional investors coordinated by Zevin Asset Management and ICCR. They sent a letter to the US Federal Trade Commission (FTC) in support of its proposal to abolish non-compete clauses in employment contracts. Non-competition clauses are considered to be economically inefficient labour policies because they constitute an obstacle to professional mobility and salary negotiations. ACTIONS AND RESULTS IN 2023 • The investor statement was signed by 145 institutional investors with USD 403 billion in assets under management. • Introduction in the Senate of the Workforce Mobility Act prohibiting the use of non-competition clauses (except in certain circumstances). ACTIONS AND RESULTS IN 2023 • The investor statement was published in June. It was signed by 27 institutional investors with assets under management of USD 2’117 billion. • Of the 15 companies targeted, six conference calls were organised. 6.25 IMPORTANCE OF SOCIAL STANDARDS WITH THE INTERNATIONAL SUSTAINABILITY STANDARDS BOARD (ISSB) CONTEXT AND OBJECTIVES In August 2023, the EEP International joined a campaign coordinated by ShareAction to ask the International Sustainability Standards Board (ISSB) to prioritise human 35
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