The U.S. economy continues to expand. Employment levels are rising; inflation is contained, the value of the dollar is rising; consumer confidence remains high, and the U.S. stock market hit new all-time highs during the quarter. Interest rates are historically low, with rates on two-year government notes below zero in multiple countries. We continue to believe that stocks, on balance, provide a higher expected risk-adjusted return than bonds, and that dollar-denominated assets remain attractive relative to other currencies. However, potential risks are increasing, leading us to emphasize, where possible, smaller and mid-sized companies, domestic sales, and low-leverage companies. We anticipate …

APRIL 16, 2015: Concerned about the potential for proposed federal toxic substances legislation to weaken state controls, Trillium Asset Management joined investor groups with a total $20 billion in assets under management who are urging lawmakers to make changes to the proposed Lautenberg Chemical Safety for the 21st Century Act (S. 697). The groups sent a letter to Senate committee leadership requesting revisions to spur economic growth and innovation as well as speed cleaner and safer alternatives into the marketplace. The letter, spearheaded by the American Sustainable Business Council and the Investor Environmental Health Network, calls on Congress to treat an overhaul …

APRIL 15, 2015: The Boston Globe published a story about the growing awareness of Socially Responsible Investing, as evidenced by Bain Capital’s announcement that they are starting a “social impact” line of business to be headed by former Massachusetts governor Deval Patrick. Sacha Pfeiffer writes: “…Paul Hilton, a partner at Boston-based Trillium Asset Management, a pioneer in socially responsible investing, says millennials are a major driver of this trend and will continue to steer the conversation as they get older. ‘These are folks coming out of school having taken a combination of courses in women’s studies and environmental studies and …

APRIL 14, 2015: Today, Trillium Asset Management was among 120 companies worldwide that were recognized for creating the most positive overall social and environmental impact by the nonprofit B Lab with the release of the fourth annual ‘B Corp Best for the World’ list. The ‘B Corp Best for the World’ list honors businesses that earned an overall score in the top 10% of more than 1,200 Certified B Corporations from over 120 industries on the B Impact Assessment, a rigorous and comprehensive assessment of a company’s impact on its workers, community, and the environment. Check out the entire list …

APRIL 13, 2015: The Guardian, a news organization based in the U.K., recently ran a story about the campaign urging Harvard University to divest its endowment from fossil fuels. Emma Howard writes: “…The activists have been heartened by an analysis from the investment firm Trillium Asset Management that says the university’s fossil fuel holdings have cost the endowment millions over the course of the divestment campaign. The $21m estimated loss is based on the performance of fossil fuel holdings in the $1bn of its $36bn (£23bn) portfolio that Harvard makes public. Matthew Patsky, Trillium’s CEO, said: ‘This stance is Harvard’s …

APRIL 9, 2015: Friends of the Earth, Domini Social Investments and Trillium Asset Management praised Lowe’s (NYSE: LOW) for making a commitment to eliminate neonicotinoid pesticides — a leading contributor to global bee declines — from its stores. After input from suppliers, NGOs, investors and other key stakeholders, the company announced today it will phase out neonicotinoids (“neonics”) as suitable alternatives become available, redouble existing integrated pest management practices for suppliers and provide additional material educating customers about pollinator health. “We commend Lowe’s for taking a leadership position on this critical issue,” said Adam Kanzer, Managing Director and Director of …

APRIL 1, 2015: Following an extensive engagement with Trillium Asset Management (Trillium) and our colleagues at First Affirmative Financial Network (FAFN), in the first quarter of 2015 Yum! Brands (NYSE: YUM*) publicly committed to sourcing 100% of its palm oil from responsible and sustainable sources by 2017. Yum, the world’s second largest fast food corporation and one of the largest purchasers of palm oil in the world, had been particularly slow to address the critical environmental and social issues raised by palm oil. The company’s recent commitment, one of the strongest in the industry, followed a palm oil focused shareholder …

MARCH 26, 2015: New York State Comptroller Thomas P. DiNapoli and Trillium Asset Management today announced that they have withdrawn the shareholder proposal they filed at eBay Inc. (NASDAQ: EBAY) after the company agreed to revise its Governance Guidelines to include gender and racial diversity among the qualities its seeks in its board members. When DiNapoli and Trillium filed their proposal, eBay had just one woman on its board, lagged its peers when it came to board diversity and had no stated policy that it made diversity a priority in constituting its board. Within months of receiving the proposal, eBay …

March 25, 2015: Shareholders sent a strong message to the management of National Fuel Gas Company (NYSE: NFG) earlier this month, with one in three votes cast in favor of a company-wide non-discrimination policy inclusive of gender identity or expression. This is the second consecutive year that Trillium Asset Management’s shareholder proposal garnered more than one third of the votes cast for the proposal — and against management’s recommendation. The shareholder proposal filed by Trillium on behalf of our client, The Social Justice Fund NW, requests the Board of Directors to: amend the company’s written equal employment opportunity policy to …