Renewable Energy Proposal at JM Smucker Receives 21% of Vote
August 18, 2015: Shareholders sent a strong message to the management of JM Smucker (NYSE: SJM) last week when nearly $1.9B worth of shares voted in favor of a proposal requesting greater disclosure around the company’s renewable energy opportunities.
The 21% vote in favor is an indication that shareholders are concerned the company is not doing enough to evaluate renewable energy opportunities within its operations.
The shareholder proposal filed by Trillium Asset Management, along with co-filers Calvert Investments, Clean Yield Asset Management, and Green Century Capital Management requests the Board of Directors to:
“[I]ssue a public report, at reasonable cost and excluding confidential information, by January 2016 analyzing and proposing how the company can increase its renewable energy sourcing and/or production”.
ISS Proxy Advisory Services, the leading provider of proxy voting advice for investors, recommended that shareholders vote in favor of the proposal, stating that:
“…the company does not provide specific information about its renewable energy usage, nor does it discuss the management processes and policies used to evaluate the sourcing of renewable energy. Such information would allow shareholders to better assess the company’s GHG emissions reduction efforts.”
For more information: Randy Rice, Trillium Asset Management, firstname.lastname@example.org, (617) 515-6889
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