Ahead of the Thomson Reuters (TSX, NYSE: TRI) annual meeting of shareholders on June 3, 2020, the BCGEU has released an investor brief about its shareholder proposal, raising concerns about human rights impacts at the $8-billion software and media company. The Proposal asks the Thomson Reuters board to investigate and disclose whether it has adequately assessed and mitigated the reputational and human rights risks associated with providing its software to the U.S. Department of Homeland Security's Immigration, Customs and Enforcement agency (ICE).
BCGEU encourages investors to vote for this proposal.
ICE relies on data and technology provided by Thomson Reuters products such as CLEAR® to track and arrest immigrants on a massive scale, and it is not clear what, if any, assessment of business risks has been carried out relating to Thomson Reuters's contracts with ICE and other agencies. The BCGEU believes this may be indicia of the board's failure to manage the Corporation's salient human rights risks. The failure to manage business risks related to human rights issues could have significant negative consequences for shareholders and stakeholders alike.
The Proposal calls on the Thomson Reuters Board to produce a report addressing (i) how Thomson Reuters assesses and mitigates its role in contributing to and being directly linked to human rights impacts by end users of its products, (ii) whether Thomson Reuters remains in compliance with the Ten Principles of the UN Global Compact, and (iii) whether Thomson Reuters's failure to invoke the UN Guiding Principles on Business and Human Rights is out of step with market practice.
You can also read BCGEU's shareholder proposal here.
Read the excerpt from Thomson Reuters management circular here.