March 22, 2016: Trillium Asset Management and Calvert Investments are pleased to announce that they have successfully withdrawn their 2016 shareholder proposals at Amgen (Nasdaq: AMGN) following a commitment from the company to include greater disclosure of current and future renewable energy projects in its Environmental Sustainability Report.
The company has committed to publish this information by May 2016 and will include an assessment of existing renewable energy projects as well as next steps relative to renewables technologies.
By providing this information Amgen is demonstrating how the company is taking a proactive approach to reducing exposure to volatile energy prices, enhancing U.S. energy security, reducing reputational risk, and meeting the global need for cleaner energy.
Renewable energy is a critical tool in managing and reducing a company’s emissions and will help Amgen meet its 2020 GHG reduction goals
The company stated, “Amgen appreciates the valuable perspective, thought, and time that both Trillium Asset Management and Calvert Investments have shared with us regarding our sustainability efforts, particularly in the area of renewable energy.”
We commend Amgen for engaging in a productive dialogue and for recognizing the critical role renewable energy plays in a carbon reduction strategy.
For more information: Randy Rice, Trillium Asset Management, firstname.lastname@example.org, 617-515-6889
Important disclosure: The information provided in this material should not be considered a recommendation to buy or sell the security mentioned. It should not be assumed that investments in such security has been or will be profitable. To the extent a specific security is mentioned, it was selected by the authors on an objective basis to illustrate views expressed in the commentary and it does not represent all of the securities purchased, sold or recommended for advisory clients. The information contained herein has been prepared from sources believed reliable but is not guaranteed as to its timeliness or accuracy, and is not a complete summary or statement of all available data. This piece is for informational purposes and should not be construed as a research report.