PAID SICK LEAVE IS A KEY ISSUE FOR INVESTORS
Group has urged firms to prioritize health of workers
A group of investors are pressing companies including Walmar t, McDonald’s and CVS to provide more information about the paid sick leave they provide for their workers, citing their heightened risk of contracting COVID-19.
Letting employees quarantine and recover at home — while receiving pay — will help companies prevent outbreaks and store closures, the group said in a statement recently. The investors, who were organized by the Interfaith Center on Corporate Responsibility, or ICCR, said they f iled shareholder resolutions at companies asking for details on how they might adopt paid sick leave.
Four out of 10 hourly paid workers don’t have paid sick leave, the group said, citing Depar tment of Labor statistics. This forces many to choose between going to work sick and infecting others or losing wages.
“Companies are quick to say their workforces are their most valuable assets but it’s tough to believe when they lack such basic protections as paid sick leave,” said Corey Klemmer, director of engagement at Domini Impact Investments, one of the investors who filed resolutions.
Resolutions were also filed to Yum Brands, Dollar General, Kroger and Kohl’s, the group said. Par ticipating investors include Trillium Asset Management, As You Sow and Zevin Asset Management.
Mike DeAngelis, a spokesman for CVS, said the company has received the proposal. He said that employees who work at least 30 hours a week, including hourly workers,
have always had access to paid sick leave. CVS also provides a 14-day paid sick leave for any employee who tests positive for COVID-19 or needs to be quarantined as a result of potential exposure, he added.
The other companies didn’t immediately reply to requests for comment.
The ICCR has 300 members including money managers, pension plans and unions, which manage a
combined $2 trillion. During the pandemic, the group has urged companies to provide paid leave, prioritize health and safety and retain workers. It has also urged big companies to pay the smaller businesses in their supply chains on time while suspending share buybacks and limiting executive compensation during the pandemic.