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2021-11-09

Response

Fund manager says EV startup Rivian's response on human rights falls short

2021-11-08

Probably

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SOC provided a copy of the letter to Reuters.</p>\n<p>“They sent us a lot of words, but it’s really raising a lot of questions and we expect more substance than aspirations,” Waizenegger said in an interview. “It’s particularly lacking on firm commitments to address critical environmental and human rights risks.”</p>\n<p>As issues of environmental, social and corporate governance take on growing importance with investors, automakers have come under pressure to prove that such minerals as lithium and cobalt for their EV batteries are sourced without human rights abuses.</p>\n<p>Rivian, backed by Amazon.com and Ford Motor Co , on Friday raised the offer price for the shares in its IPO, aiming for a valuation of as much as $65 billion. It now expects to raise nearly $10 billion on Tuesday.</p>\n<p>In an Oct. 29 response to SOC, board member Rose Marcario said Rivian was committed to ethical and sustainable growth in the EV space.</p>\n<p>“We have already taken extensive measures to protect the environment and human welfare in the course of our business operations; we have always understood that we must grow our policies as we grow our company; and we are intent on setting new industry standards for human rights and environmental diligence,” she said.</p>\n<p>Marcario cited Rivian’s plan to put 1% of equity in an environmental program aimed at helping address climate change and preserving wildlands and waterways, its intent to be climate neutral by 2032 for all emissions, a promise to release a full impact report in early 2023, a commitment by its battery supplier Samsung SDI not to use deep seabed mining, Rivian’s supplier code of conduct, and more.</p>\n<p>SOC in an Oct. 20 letter called on Rivian to adopt policies to identify and prevent human rights risks and environmental impacts through its supply chain based on United Nations guiding principles for businesses.</p>\n<p>In Monday’s letter, Waizenegger said Rivian’s supplier code of conduct was not publicly available, its position on deep seabed mining needed to be clarified, the startup needed to commit to disclosures around its efforts, and the fund manager was concerned Rivian’s board might not be able to effectively oversee efforts in these issues.</p>\n<p>A Rivian spokesperson said the company was not commenting further during the quiet period ahead of its IPO.</p>\n<p>SOC, formerly known as CtW Investment Group, is an advisor for union pension funds that have more than $250 billion in assets. It has taken a more activist approach with such companies as Doordash, Uber and Lyft, around issues including board diversity, executive pay and company stock structure. This is the first time SOC has approached an automaker about the battery supply chain.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fund manager says EV startup Rivian's response on human rights falls short</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFund manager says EV startup Rivian's response on human rights falls short\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-08 22:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/rivian-batteries-investors/fund-manager-says-ev-startup-rivians-response-on-human-rights-falls-short-idUSL1N2RW2ZY><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>DETROIT, Nov 8 (Reuters) - A union-affiliated pension fund advisor pressing Rivian on human rights and environment concerns in the electric vehicle startup’s battery supply chain ahead of a ...</p>\n\n<a href=\"https://www.reuters.com/article/rivian-batteries-investors/fund-manager-says-ev-startup-rivians-response-on-human-rights-falls-short-idUSL1N2RW2ZY\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RIVN":"Rivian Automotive, Inc."},"source_url":"https://www.reuters.com/article/rivian-batteries-investors/fund-manager-says-ev-startup-rivians-response-on-human-rights-falls-short-idUSL1N2RW2ZY","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184596540","content_text":"DETROIT, Nov 8 (Reuters) - A union-affiliated pension fund advisor pressing Rivian on human rights and environment concerns in the electric vehicle startup’s battery supply chain ahead of a blockbuster initial public offering said on Monday the company’s response fell short of expectations.\nSOC Investment Group Executive Director Dieter Waizenegger said he was disappointed in the lack of substance in the Irvine, California-based company’s Oct. 29 response to earlier concerns the fund manager raised. SOC provided a copy of the letter to Reuters.\n“They sent us a lot of words, but it’s really raising a lot of questions and we expect more substance than aspirations,” Waizenegger said in an interview. “It’s particularly lacking on firm commitments to address critical environmental and human rights risks.”\nAs issues of environmental, social and corporate governance take on growing importance with investors, automakers have come under pressure to prove that such minerals as lithium and cobalt for their EV batteries are sourced without human rights abuses.\nRivian, backed by Amazon.com and Ford Motor Co , on Friday raised the offer price for the shares in its IPO, aiming for a valuation of as much as $65 billion. It now expects to raise nearly $10 billion on Tuesday.\nIn an Oct. 29 response to SOC, board member Rose Marcario said Rivian was committed to ethical and sustainable growth in the EV space.\n“We have already taken extensive measures to protect the environment and human welfare in the course of our business operations; we have always understood that we must grow our policies as we grow our company; and we are intent on setting new industry standards for human rights and environmental diligence,” she said.\nMarcario cited Rivian’s plan to put 1% of equity in an environmental program aimed at helping address climate change and preserving wildlands and waterways, its intent to be climate neutral by 2032 for all emissions, a promise to release a full impact report in early 2023, a commitment by its battery supplier Samsung SDI not to use deep seabed mining, Rivian’s supplier code of conduct, and more.\nSOC in an Oct. 20 letter called on Rivian to adopt policies to identify and prevent human rights risks and environmental impacts through its supply chain based on United Nations guiding principles for businesses.\nIn Monday’s letter, Waizenegger said Rivian’s supplier code of conduct was not publicly available, its position on deep seabed mining needed to be clarified, the startup needed to commit to disclosures around its efforts, and the fund manager was concerned Rivian’s board might not be able to effectively oversee efforts in these issues.\nA Rivian spokesperson said the company was not commenting further during the quiet period ahead of its IPO.\nSOC, formerly known as CtW Investment Group, is an advisor for union pension funds that have more than $250 billion in assets. It has taken a more activist approach with such companies as Doordash, Uber and Lyft, around issues including board diversity, executive pay and company stock structure. This is the first time SOC has approached an automaker about the battery supply chain.","news_type":1},"isVote":1,"tweetType":1,"viewCount":458,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":845181341,"gmtCreate":1636302077961,"gmtModify":1636302078050,"author":{"id":"4096690854909960","authorId":"4096690854909960","name":"Hussain","avatar":"https://static.tigerbbs.com/8da2d046e305aec5e95dbf416b4a7d3b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4096690854909960","idStr":"4096690854909960"},"themes":[],"htmlText":"Probably&nbsp;","listText":"Probably&nbsp;","text":"Probably","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/845181341","repostId":"2181742241","repostType":4,"isVote":1,"tweetType":1,"viewCount":724,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":844332431,"gmtCreate":1636387451035,"gmtModify":1636387451161,"author":{"id":"4096690854909960","authorId":"4096690854909960","name":"Hussain","avatar":"https://static.tigerbbs.com/8da2d046e305aec5e95dbf416b4a7d3b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4096690854909960","authorIdStr":"4096690854909960"},"themes":[],"htmlText":"Response&nbsp;","listText":"Response&nbsp;","text":"Response","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/844332431","repostId":"1184596540","repostType":4,"isVote":1,"tweetType":1,"viewCount":458,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":845181341,"gmtCreate":1636302077961,"gmtModify":1636302078050,"author":{"id":"4096690854909960","authorId":"4096690854909960","name":"Hussain","avatar":"https://static.tigerbbs.com/8da2d046e305aec5e95dbf416b4a7d3b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4096690854909960","authorIdStr":"4096690854909960"},"themes":[],"htmlText":"Probably&nbsp;","listText":"Probably&nbsp;","text":"Probably","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/845181341","repostId":"2181742241","repostType":4,"repost":{"id":"2181742241","pubTimestamp":1636200000,"share":"https://www.laohu8.com/m/news/2181742241?lang=&edition=full","pubTime":"2021-11-06 20:00","market":"us","language":"en","title":"Will Moderna and Pfizer Continue to Lead After the COVID-19 Pandemic Ends?","url":"https://stock-news.laohu8.com/highlight/detail?id=2181742241","media":"Motley Fool","summary":"Probably, but there will be room for other players in the COVID-19 vaccine market, too.","content":"<p><b>Pfizer</b> (NYSE:PFE) and <b>Moderna</b> (NASDAQ:MRNA) are dominating the global COVID-19 vaccine market. But can they continue to do so once the pandemic is over? In this <i>Motley Fool Live</i> video <b>recorded on Oct. 27</b>, Fool contributors Keith Speights and Brian Orelli address this question, as well as the potential for other companies to succeed.</p>\n<p><b>Keith Speights:</b> Now, here's <a href=\"https://laohu8.com/S/AONE.U\">one</a> that I think that we both can talk about here. Joe asked, \"Where do you see the COVID market going if the pandemic becomes an epidemic?\" He also says, \"Will Moderna and Pfizer&nbsp;continue to lead? Where will <b>CureVac</b> (NASDAQ:CVAC) and <b>Novavax</b> (NASDAQ:NVAX) fit in in such a scenario?\" That's a good question.</p>\n<p><b>Brian Orelli:</b> I wonder whether he means endemic which means it's around all the time. Pandemic would be it comes and then goes. Endemic means it's like the flu. It's around every year, you are never going to actually get rid of it.</p>\n<p>I think Moderna and Pfizer are definitely going to continue to lead because they have such a head start, not just in the ability, doctors having experience with it, but also their ability to manufacture quite a bit of it. I think they will definitely continue to lead.</p>\n<p>Is there room for Novavax and CureVac? I think there probably is.</p>\n<p>I think that it's really going to depend on whether we need more boosters. We don't really know what our memory B cells are going to do and what the virus is going to do. That's basically, the virus mutates enough, then our memory B cells can't take care of the virus then it will be a problem. If the virus doesn't mutate enough and then we're all vaccinated and we have fairly good memory B cells, well then we get infected with the coronavirus and SARS-CoV-2 and our bodies just take care of it and maybe we get sniffles or something.</p>\n<p>But it's not a major issue. We don't worry about the cold. I don't think we'd have much problems. I don't think there was going to be that big of a market for boosters if people aren't dying from COVID-19.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Will Moderna and Pfizer Continue to Lead After the COVID-19 Pandemic Ends?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWill Moderna and Pfizer Continue to Lead After the COVID-19 Pandemic Ends?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-06 20:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/11/06/will-moderna-and-pfizer-continue-to-lead-after-the/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Pfizer (NYSE:PFE) and Moderna (NASDAQ:MRNA) are dominating the global COVID-19 vaccine market. But can they continue to do so once the pandemic is over? In this Motley Fool Live video recorded on Oct....</p>\n\n<a href=\"https://www.fool.com/investing/2021/11/06/will-moderna-and-pfizer-continue-to-lead-after-the/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PFE":"辉瑞"},"source_url":"https://www.fool.com/investing/2021/11/06/will-moderna-and-pfizer-continue-to-lead-after-the/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2181742241","content_text":"Pfizer (NYSE:PFE) and Moderna (NASDAQ:MRNA) are dominating the global COVID-19 vaccine market. But can they continue to do so once the pandemic is over? In this Motley Fool Live video recorded on Oct. 27, Fool contributors Keith Speights and Brian Orelli address this question, as well as the potential for other companies to succeed.\nKeith Speights: Now, here's one that I think that we both can talk about here. Joe asked, \"Where do you see the COVID market going if the pandemic becomes an epidemic?\" He also says, \"Will Moderna and Pfizer continue to lead? Where will CureVac (NASDAQ:CVAC) and Novavax (NASDAQ:NVAX) fit in in such a scenario?\" That's a good question.\nBrian Orelli: I wonder whether he means endemic which means it's around all the time. Pandemic would be it comes and then goes. Endemic means it's like the flu. It's around every year, you are never going to actually get rid of it.\nI think Moderna and Pfizer are definitely going to continue to lead because they have such a head start, not just in the ability, doctors having experience with it, but also their ability to manufacture quite a bit of it. I think they will definitely continue to lead.\nIs there room for Novavax and CureVac? I think there probably is.\nI think that it's really going to depend on whether we need more boosters. We don't really know what our memory B cells are going to do and what the virus is going to do. That's basically, the virus mutates enough, then our memory B cells can't take care of the virus then it will be a problem. If the virus doesn't mutate enough and then we're all vaccinated and we have fairly good memory B cells, well then we get infected with the coronavirus and SARS-CoV-2 and our bodies just take care of it and maybe we get sniffles or something.\nBut it's not a major issue. We don't worry about the cold. I don't think we'd have much problems. I don't think there was going to be that big of a market for boosters if people aren't dying from COVID-19.","news_type":1},"isVote":1,"tweetType":1,"viewCount":724,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}