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Day of action against Suez’s exploitative practices

Giuseppina Pagano

On May 13th, 2005, when Suez shareholders convened in Paris for their annual general assembly, social movements from around the world gathered in the French capital to paint a different picture of the company’s performance. While shareholders might have been satisfied with Suez’s financial performance (€1.8 billion / US$ 2.42 billion net profit in 2004), water activists were denouncing the company’s exploitative practices whereby those profits had been gained: unjustified and unaffordable water rates?, denial of access to water services for people unable to pay, broken contractual agreements such as extension of infrastructure, failure to do maintenance work resulting in public health hazards and environmental damage.

Representatives of social movements from Argentina, Bolivia, Chile, Uruguay and the Philippines came all the way to Paris to bear witness and protest against the social and environmental damage Suez is causing in their countries. From different corners of the world, the same story was being told, adding up to a complete and coherent picture of the company’s offenses.

A common declaration of grievances was formulated and presented at a press conference held at the Assemblée Nationale, the French parliament. The same declaration was read to Suez shareholders during their annual meeting by Boston Common Asset Management, a US investment firm that holds shares of Suez and has expressed concern about of the company’s questionable social performance. Demonstrations both in front of Suez headquarters in Paris and Suez offices around the world rounded off this day of action.

Let companies like Suez be reminded that the world is watching and that public pressure will continue. And should collective protests of concerned citizens not be enough to have Suez rethink its policies, the fact that more and more socially responsible shareholders may decide to withdraw their investments from such a socially irresponsible company could move Suez and others of its kind to adjust their course.

For more information visit www.stopsuez.org

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