Shareholder engagement and Chevron’s policy 520 on human rights: The role played by the United States Jesuit conference’s “national Jesuit committee on investment responsibility”

Abstract

Purpose

To demonstrate how the Society of Jesus (Jesuits) in the United States through the “National Jesuit Committee on Investment Responsibility” played a significant role as a socially conscious institutional and religious investor in influencing Chevron’s Human Rights Policy 520 and to analyze the factors that contributed to a successful shareholder engagement with the company.

Methodology/approach

Case study based on firsthand information.

Findings

1. Our conclusion offers support for Allen et al.’s (2012) conclusion of legitimacy (credibility) being the dominant force in a successful engagement.

2. We found that coalition-building is a significant moderating variable in increasing shareholder salience. This finding contradicts the study by Gifford (2010).

Originality/value of chapter

The chapter is based on the actual process of shareholder engagement with Chevron Corporation that led to the human rights policy and is written mainly based on firsthand information.

Citation

Santos, N.J.C., Sealey, J. and Onuoha, A.G.C. (2014), "Shareholder engagement and Chevron’s policy 520 on human rights: The role played by the United States Jesuit conference’s “national Jesuit committee on investment responsibility”", Socially Responsible Investment in the 21st Century: Does it Make a Difference for Society? (Critical Studies on Corporate Responsibility, Governance and Sustainability, Vol. 7), Emerald Group Publishing Limited, Leeds, pp. 43-63. https://doi.org/10.1108/S2043-905920140000007002