A Solid Foundation: Nike Launches Milestone Ad-Campaign Supporting Social Justice Issues. Trillium wonders what’s next.
September 21, 2018 // Boston, MA Nike’s latest ad-campaign featuring Colin Kaepernick is a defining moment for the protests he began over two years ago and we commend Nike for rekindling the public conversation around systemic racism and police brutality. This ad-campaign sends another important signal that Nike is committed to advancing discussions brought forth by Mr. Kaepernick and other athletes around social inequities. The need for Nike to step in was clear after the NFL instituted its “no-kneeling” policy in May 2018. Trillium, along with many others, saw this policy as an attack on free speech and another form …
New Anchorage Daily News Op-Ed – Bristol Bay, Not Pebble Mine, is the Sound Investment
Boston, MA // September 7, 2018 – On Thursday, September 6, the Anchorage Daily News website published an op-ed authored by Trillium Asset Management’s Director of Shareholder Advocacy Jonas Kron titled, “Bristol Bay, Not Pebble Mine, is the Sound Investment.” Read the full op-ed below and on www.adn.com Important Disclosure: This is not a recommendation to buy or sell any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. The specific securities were selected on an objective basis and do not represent all of the securities purchased, sold or …
California Passes Historic Climate Bill
September 14, 2018 // Boston, MA Last week California Governor Jerry Brown signed one of the most ambitious climate policies in the United States. The new law, SB100, sets California on a path to source 100% clean energy by 2045 making it just the second state with such an ambition. Setting this new goal was a key next step that will help the state achieve its GHG reduction goals, while also ensuring continued investment in clean energy projects. This ambitious, long-term climate bill provides the much desired market certainty and predictability needed for business planning and for investors. Over the …
Alphabet’s Board Strengthens Governance Practices – Adopts “Rooney Rule” Language after Trillium engages Management on Board Diversity
August 16, 2018 // Boston, MA In May, when the company called to tell us that Sundar Pichai (Google’s CEO and an India native) would be joining the executive committee of Alphabet’s Board, we withdrew our shareholder proposal* which asked the company to address the lack of diversity on the Executive Committee of the Board – the company’s highest level of governance. While pleased with this step to expand diversity, we followed up with the company to discuss why gender diversity on the board was moving in the opposite direction. The February resignation of Shirley Tilghman left Alphabet with just …
Trillium Featured in The Onion
August 15, 2018 // Boston, MA The satirical news website, The Onion, recently honored Trillium Asset Management and its CEO, Matt Patsky, by making us the subject of one of its latest articles. All of us at Trillium had a good laugh and appreciate The Onion’s humorous take on Trillium and our work. In the article, Matt colorfully berated Facebook CEO Mark Zuckerberg with many expletives about the company’s performance. While Matt most definitely did not say any of the things in the article, Trillium recently did file a shareholder proposal at Facebook urging the company to make the Chair of the Board an independent …
Trillium Equity Strategies Maximize Holdings for LGBT Equality
July 25, 2018 // Boston, MA Trillium is pleased to announce that as of July 24th, 2018 all of the companies held in our Large Cap Core and All Cap Core strategies have workplace policies that protect LGBT employees from discrimination. Specifically, these companies explicitly name sexual orientation and gender identity or expression in their Equal Employment Opportunity (EEO) policies. In most states it is perfectly legal to be fired for being an LGBT person however, company-wide policies can shield employees from the inconsistent state and local legislation. 1995 is when Trillium began engaging portfolio companies regarding LGBT protections and …
Businesses Urge US Court to Uphold Coverage of Reproductive Health Care Benefits
June 19, 2018 // Boston, MA – Last week, Trillium Asset Management joined the U.S. Women’s Chamber of Commerce and a group of 15 businesses in submitting an amicus brief to the 9th Circuit Court of Appeals. This brief urges the court to uphold the Affordable Care Act’s (ACA) requirement that employers provide comprehensive sexual and reproductive health coverage to their employees. If the federal agencies succeed in their appeal efforts, we believe many employers would seek exemptions from the ACA requirement, meaning many thousands of women will lose access to this “essential health benefit”. The amicus brief explains how …
Fortune: Greater Board Risk Oversight at Facebook
Boston, MA // June 11, 2018 – On Friday, June 8th, Fortune published commentary authored by Trillium Asset Management’s Director of Shareholder Advocacy Jonas Kron titled, “Microsoft Does These 2 Things to Stay out of Trouble. Facebook Should Try Them”. Read the introduction below and the full commentary on www.fortune.com. Microsoft Does These 2 Things to Stay out of Trouble. Facebook Should Try Them Twenty years ago, Bill Gates sat in a congressional hot seat responding to pointed and angry questions about his company’s impact on society and anti-competitive practices. For Microsoft, the following decade was a painful, distracting, and …
Risk Oversight Proposal at Facebook Receives 45% Vote
June 6, 2018 // Boston, MA – At last week’s annual meeting, Facebook (NASDAQ: FB) shareholders sent a strong message to management when Trillium Asset Management’s risk oversight committee shareholder proposal received a 45% vote of non-insiders. This means 45% of the total votes cast, after excluding the votes of 14 insiders that are executive officers and directors, were in favor of our proposal. Investor demand for greater oversight and accountability has steadily mounted as the frequency and string of controversies has sparked extensive criticism and concern. The shareholder proposal asked Facebook to establish a Risk Oversight Committee at the …
Failure to Divest from Fossil Fuels Leads to over $1 Billion Shortfall for MA Pension Fund
FOR IMMEDIATE RELEASE CONTACT: Stephanie Leighton, Trillium Asset Management, sleighton@trilliuminvest.com, (617) 423-6655 Jon Grossman, SEIU Local 509, jgrossman@seiu509.org, (617) 312-7180 Failure to Divest from Fossil Fuels Leads to over $1 billion Shortfall for MA Pension Fund June 1, 2018 // Boston, MA – A recent financial analysis conducted by MassDivest Coalition and Trillium Asset Management, a Boston-based sustainable and responsible investment firm, found that the Massachusetts Pension Reserves Investment Trust (PRIT) lost an estimated $79 million on its $1.6 billion fossil fuels equities for the five years ending June 30, 2017. The analysis was released just as legislators failed …
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