ESG Reporting Proposal at Middleby Receives Majority Vote

May 14, 2018 // Boston, MA: During The Middleby Corporation’s (NASDAQ: MIDD) recent annual meeting, shareholders sent a strong message to management when Trillium’s shareholder proposal on corporate sustainability reporting received a 57.2% vote.
The proposal asked Middleby to issue a report discussing its environmental, social, and governance (ESG) policies and performance, including a discussion of climate change management.
The link between strong sustainability management and value creation is increasingly evident. The University of Oxford and Arabesque Partners recently reviewed 200 studies on sustainability and corporate performance and concluded 90 percent of studies show “sound sustainability standards lower the cost of capital of companies” and 80 percent show “stock price performance of companies is positively influenced by good sustainability practices.”
Moreover, sustainability reporting allows investors to identify sources of risk and is a tool that helps to hold companies accountable for their social and environmental impacts.
This year’s majority vote sends a very strong signal to Middleby’s Board and management that its shareholders value disclosure related to its management of material environmental, social, and governance risks and opportunities.

###

For more information: Caroline White, Trillium Asset Management, 617-532-6680, cwhite[at]trilliuminvest.com
Important Disclosure: The views expressed are not intended to be a forecast of future events or a guarantee of future results. These views may not be relied upon as investment advice. The information contained herein has been prepared from sources believed reliable but is not guaranteed by us 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. The information provided is not a recommendation to buy or sell the securities mentioned. The securities were selected on an objective basis for illustrative purposes and do not represent all of the securities purchased, sold or recommended. It should not be assumed that investments in the securities has been or will be profitable. The securities do not represent all of the securities purchased, sold or recommended for advisory clients.