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Big investors join list of heavyweights against North Carolina 'bathroom bill'
Source: The Guardian
Big investors join list of heavyweights against North Carolina 'bathroom bill'
Morgan Stanley and RBC are among the 53 investors who signed
open letter calling for a ‘full repeal to HB2’ and citing that it’s bad
for business
Rupert Neate in New York
Monday 26 September 2016 17.20 BST
Some of the world’s most powerful investors have added themselves to a growing list of business leaders, sports stars and performing artists demanding North Carolina overturns the state’s “bathroom bill” law that requires people to use public restrooms of their sex at birth and not the sex to which they identify.
The investor group, which includes Morgan Stanley Investment Management, RBC Wealth Management and the managers of public pension funds in New York and California, said the North Carolina House Bill 2 (HB2) “invalidate[s] the human rights of individuals across the state” and has “troubling financial implications for the investment climate in North Carolina”.
The letter, signed by 53 investors with $2.1bn of assets under management collectively, called for the “full repeal of HB2”.
“Quite simply, HB2 is bad for business and investors do not support legislation that limits discrimination protections and hampers the ability of our companies to offer open and productive workplaces and communities,” the open letter said.
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Morgan Stanley and RBC are among the 53 investors who signed
open letter calling for a ‘full repeal to HB2’ and citing that it’s bad
for business
Rupert Neate in New York
Monday 26 September 2016 17.20 BST
Some of the world’s most powerful investors have added themselves to a growing list of business leaders, sports stars and performing artists demanding North Carolina overturns the state’s “bathroom bill” law that requires people to use public restrooms of their sex at birth and not the sex to which they identify.
The investor group, which includes Morgan Stanley Investment Management, RBC Wealth Management and the managers of public pension funds in New York and California, said the North Carolina House Bill 2 (HB2) “invalidate[s] the human rights of individuals across the state” and has “troubling financial implications for the investment climate in North Carolina”.
The letter, signed by 53 investors with $2.1bn of assets under management collectively, called for the “full repeal of HB2”.
“Quite simply, HB2 is bad for business and investors do not support legislation that limits discrimination protections and hampers the ability of our companies to offer open and productive workplaces and communities,” the open letter said.
[font size=1]-snip-[/font]
Read more: https://www.theguardian.com/us-news/2016/sep/26/big-investors-oppose-north-carolina-bathroom-bill
