Letter to Middleby Shareholders: Vote Yes for ESG Reporting Proposal
Boston, MA // April 17, 2018 – Trillium Asset Management has published a letter to shareholders of The Middleby Corporation (NASDAQ: MIDD) urging them to vote in favor of a shareholder proposal on the company’s 2018 proxy card. The shareholder proposal asks Middleby to issue a report discussing its environmental, social, and governance (ESG) policies and performance, including a discussion of climate change management. Our rationale for voting “Yes” is based on the following key points:
- Middleby last discussed ESG performance in 2010, which does not reflect its operations in 2018.
- The field of sustainability reporting and peers’ performance have evolved significantly leaving Middleby as a laggard.
- Middleby has not reported on climate change risks and opportunities.
- Disclosure on ESG policies and performance could lead to financial benefits for Middleby and its shareholders.
Read the letter to shareholders.
Contact: Allan Pearce, Trillium Asset Management, 503-953-8345, apearce[at]trilliuminvest.com
Trillium Asset Management, LLC is the oldest independent investment advisor devoted exclusively to sustainable and responsible investing. With over $2.6 billion in assets under management, Trillium has been managing equity and fixed income investments for high net worth individuals, foundations, endowments, religious institutions, and other nonprofits since 1982. A leader in shareholder advocacy and public policy work, Trillium’s goal is to deliver both impact and performance to its investors.
Important Disclosure: The information provided is not a recommendation to buy or sell the security mentioned. The security was selected on an objective basis for illustrative purposes and does not represent all of the securities purchased, sold or recommended. It should not be assumed that investments in the security has been or will be profitable.