A group of 195 long-term institutional investors representing over $4.7trillion USD in assets under management with global exposure across capital markets has issued an Investor Statement on Coronavirus Response. The Church Investment Group is a signatory of this statement.
In this statement, we call on these management teams and boards of directors to join us in facing this unprecedented threat. The long-term consequences of COVID-19 are difficult to imagine at this early stage. What we do know, however, is that the virus will strain all our global social and financial systems. Millions of working people will face impossible hardships as COVID-19 shuts down schools, workplaces, hourly employment, transportation and more. We also know that vulnerable communities are the most at risk as they have limited access to social safety nets and financial resources to weather this uncertain period.
The statement urges the business community to take what steps they can and to consider the following steps in particular:
- Provide paid leave
- Prioritize health and safety
- Maintain employment
- Maintain supplier/customer relationships
- Financial prudence