At a meeting of a Board of shareholders of Repsol YPF, a Spanish multinational, of the most powerful in Latin America, heard is that Repsol does not respect internationally recognized basic rights to indigenous people. It wasn’t an activist command that crept mocking the security service, but the representative of the NGO Intermon Oxfam, he had obtained the endorsement of modest shareholders and four no less modest investment funds to be able to intervene in the Board. Maybe not happen anything, but Antonio Brufau, Repsol Chairman, said that he took note. You will have to see. Intermon Oxfam denounces Repsol YPF from a few years ago and requires having into account the rights of indigenous peoples; They reiterate that they cannot repair Repsol for damage caused to forests and their lands by the oil along, despite the promise of doing so. In the Anglo-Saxon world, infiltrating meetings of shareholders by solidarity and social organizations practiced years ago; in Spain, the Pioneer was seven years ago Setem, a Federation of ten NGOs in development aid. At a recent shareholders meeting of (well-known in Latin America Spanish bank) BBVA, a representative of the Federation criticized the investments of the Bank in the sector of manufacture of weapons, as well as questionable projects that the financial institution has in South America. He was also a Setem acquired it 120 shares (out of a total of more than six hundred million) Spanish multinational textile Inditex to talk at its shareholders meeting and claim a greater social commitment of the company. The NGO pressure got that Inditex revised (even cancelled) some subcontractors in countries impoverished by flagrant exploitation of workers. From very critical perspectives, as the the Observatory of debt in globalization, linked to a Spanish University, the presence of NGOs in meetings of shareholders only washing the face of multinationals, who give donations (pocket change for them) and convert that responsibility social in very cost effective advertising.
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