Big Victory for Shareholder Rights!

October 27, 2009 –  ­ This morning the Securities and Exchange Commission (SEC) announced a reversal in policy that will allow shareholders to resume filing resolutions that ask companies to discuss the risks associated with climate change, toxic chemicals, rising health care costs and other significant social and environmental policies issues. Under the Bush Administration, the “risk evaluation” exclusion severely cramped the ability of shareholders to hold corporations fully accountable for the financial, environmental and social implications of their policies in these high profile issue areas.
Trillium Asset Management Corporation (“Trillium”) has been a leader in pushing the SEC on this issue. In September, Jonas Kron, Esq. of Trillium spoke directly with the SEC about this issue in his capacity as a member of Social Investment Forum’s Advocacy & Public Policy Working Group. Trillium welcomes the expanded opportunities provided by this policy reversal to advocate for greater corporate transparency and responsible corporate behavior. We commend the SEC for continuing to empower shareholders and see this as an important step in its efforts to strengthen the proxy process. Trillium looks forward working with the SEC on further improvements to the process.
For further information, contact Jonas Kron at 503-592-0864.