With AI-related risks being inherently global in nature, the hope and anticipation is that there will be a suitably robust regulatory environment wherever the technology is deployed, Michael Connor, Executive Director at Open MIC, tells ESG Investor.
“Many companies have global activities, so we need to ensure that if they are applying a higher standard in Europe due to EU regulations, this should be the case wherever they operate to foster greater corporate accountability in the deployment and use of digital technologies,” he says.
“A big part of our concern really comes down to transparency,” Dana Floberg, Open MIC’s advocacy director, told MarketWatch on Thursday. It’s unclear exactly what data Acxiom collects, Floberg added, as well as “what kinds of measures they may or may not be taking to ensure they keep that data safe, and what they turn over to law enforcement.”
Michael Connor, the executive director of Open MIC (Media and Information Companies Initiative), a nonprofit that works on socially responsible investing and is also part of the coalition, said the law is “simply good business.”
“These resolutions are based on a simple premise: Companies benefit from knowing when sexual harassment, discrimination and unlawful behavior are happening in the workplace, which is why employees should be encouraged to speak out about such conduct,” he said.
“There’s an arrogance about it that just cries out for some sort of justice,” said Michael Connor, executive director of Open MIC (Media and Information Companies Initiative), a nonprofit that works on socially responsible investing. Socially responsible investing — also known as environmental, social and governance (ESG) — has grown more popular in recent years, and is especially so among younger investors. Surveys show they care more about investing in companies whose values align with theirs than their older counterparts.
“Thirty percent support for the proposal in its first year at Uber shows a significant base of support for this reform, which we believe will only grow over time,” a spokeswoman for the Teamsters said Tuesday. “Transparency and accountability are necessary at Uber and throughout the ‘gig’ industry.”
Michael Connor, executive director of Open MIC (Media and Information Companies Initiative), a nonprofit that works on socially responsible investing, agreed with that assessment.
“[It’s] a strong signal that the underlying issues are important to an influential contingent of investors — and the company’s board and management would be wise to begin addressing those issues,” he said.
Michael Connor, executive director of Open MIC (Media and Information Companies Initiative), a nonprofit that works on socially responsible investing and shareholder engagement, told MarketWatch that recommendations by Glass Lewis and ISS, which advise many of the world’s largest asset managers, “are a big deal and can translate into an additional twenty percentage points or more in the final tabulation for a proposal.”
The San Francisco-based company’s investors are scheduled to vote on this and other proposals at the May 10 annual shareholder meeting.
