Animal welfare
Our customers have expressed a number of concerns around the issue of animal welfare, and so we encourage the companies we invest in to take positive steps toward addressing their impacts on animal welfare; whether it be ending the sale of fur or stopping the testing of cosmetics on animals.
Our policy statement on animal welfare
We will encourage:
- a move away from intensive animal farming systems, e.g. battery cages.
- an end to the reliance on animal testing for cosmetic or household products.
- support for the development of alternatives to animal testing.
- an end to the trade in fur.
- an end to blood sports, which involve the use of animals or birds to catch, fight or kill each other.
Our policy in practice…
Co-operative Insurance engagement – fur trade
Global fur sales increased for the eighth consecutive year in 2006, rising by 6% on the previous year * . In 2005, Co-operative Insurance initiated an engagement programme to ascertain retailers' policies in connection with the sale of fur.
In 2006, this matter was further pursued with two businesses. Burberry reported that it sought to avoid fur from China, given heightened animal welfare concerns, but indicated that it was not fundamentally against the use of fur. This led Co-operative Insurance to vote against the acceptance of Burberry's 2006 Annual Report and Accounts. The French Connection Group plc reported that it did not have a policy addressing the use of fur and did not intend to develop one.
In response, Co-operative Insurance voted against the acceptance of the 2006 Annual Report and Accounts, for the third consecutive year. Given the lack of responsiveness to Co-operative Insurance's serious concerns on governance matters at French Connection Group plc, and, to a lesser extent, the company's failure to engage on the issue of fur, in early 2007, Co-operative Insurance divested of its interest in the company.
*www.iftf.com
