Investors to AT&T: Let Shareholders Vote on Open, Free Internet Access for All
October 26, 2011 NEW YORK – Shareholders of AT&T Inc. have filed a proposal calling for the company “to publicly commit to operate its wireless broadband network consistent with network neutrality principles” that would maintain open access to the Internet on wireless networks. The filing comes only weeks before implementation of new Federal Communications Commission rules on network neutrality that provide a broad exemption for wireless broadband networks – the fastest growing segment of the Internet. AT&T has sought in the past to block shareholders from voting on network neutrality issues. A similar shareholder proposal on wireless networks was excluded …
Dear Reader
As I reflect on my first two years as Trillium’s CEO, I am gratified by the support of our clients and proud of what our Trillium team has achieved. In particular, we are continuing to build on three key themes at the heart of our company: a commitment to employee empowerment, a focus on impact through advocacy, and a longterm goal of transforming capital markets. Let me give you a quick update in each of these areas. First, on employee empowerment. Our founder Joan Bavaria started Trillium with the belief that we should create a “work environment that encourages personal …
Trillium Stands in Support of Clean Fuel Standards
BOSTON – September 20, 2011 Trillium joined business leaders, other SRI investors, and members of the community at a meeting on September 20th, 2011 to deliver a strong economic argument to Massachusetts Gov. Deval Patrick and 10 other Northeast and Mid-Atlantic Governors in favor of pursuing a regional clean fuels standard in their states. The meeting was hosted by NESCAUM, Northeast States for Coordinated Air Use Management to give stakeholders a chance to discuss an economic analysis, released last month, on the regional impacts of a clean fuels standard. The clean fuel standards require producers to gradually reduce the amount …
United Nations Releases Guiding Principles on Business and Human Rights
Susan Baker Good news came out of the United Nations this summer that has positive implications for shareholder advocates and activists working to promote and protect human rights. The UN Human Rights Council (formerly the UN Commission on Human Rights) endorsed the Guiding Principles on Business and Human Rights: Implementing the United Nations ‘Protect, Respect and Remedy’ Framework.[1] Six years in the making, the Guiding Principles are the first set of standards ever endorsed by the UN that examine the intersection of business and human rights. Unlike the UN Global Compact, a set of voluntary business principles introduced in 2000 …
Seasonal Wrap-up: Trillium's 2011 Engagement Highlights
Trillium Asset Management, LLC, a Boston-based pioneer in the field of environmental, social and governance (ESG) investing, reported out today on the results of its 2011 proxy season engagements with nearly two dozen major U.S. corporations. (For a full listing of our 2011 Shareholder Proposals, scroll to the end of the page.) “A good portion of our dialogues and resolutions resulted in agreements with companies to improve policies and provide more transparency,” said Matthew Patsky, CEO of Trillium. “Both are helpful in assessing the environmental, social and governance risks and their financial impact on shareholders.” Trillium’s ESG program addressed a …
Of Climate Change and Cost Curves
As communities around the globe strive to meet ever-increasing energy demand and produce sustainable jobs and investments, we are at a crossroads where we must either aggressively adopt non-fossil fuel energy sources or risk exceeding the 2°C temperature rise already expected from the cumulative buildup of greenhouse gases in the atmosphere. Mainstream conventional wisdom holds that nuclear power must be embraced in the transition to a post fossil fuel future, and that solar and wind’s high costs and lack of scalability will consign their contributions to the margins. But as we discuss in this article, for reasons inextricably linked to …
Dear Reader
Matt Patsky, CFA, CEO It is exciting for me personally and for Trillium to be involved in the emergence of Impact Investing as a vital piece of the larger Sustainable and Responsible Investing (SRI) industry. I recently had the privilege of attending both the Skoll World Forum and the Social Venture Network’s spring conference. These organizations, among so many others, are working to find innovative solutions to the world’s most pressing challenges. While attending the Forum, I also had the opportunity to meet briefly with Archbishop Desmond Tutu, who was one of the keynote speakers. The Archbishop spoke appreciatively of …
Trillium hires SRI Veteran Paul Hilton
June 7, 2011 Boston, MA – Trillium Asset Management is pleased to announce that Paul Hilton, CFA, has joined the firm as a portfolio manager. Mr. Hilton has been involved in sustainable and responsible investing for over 15 years, working on both the investment and sustainability research and advocacy sides. “We are delighted to have Paul join Trillium. His long history as an innovator in the field of SRI augments the deep talent already in place at Trillium,” commented Matt Patsky, Trillium’s CEO. “Paul has collaborated with Trillium staff over the years on various projects, including the co-founding of SIRAN …
Home Depot Shareholders Urge Company to Improve Diversity Disclosure
Boston, MA, June 1, 2011 Investors will cast their votes tomorrow at the annual meeting of The Home Depot (NYSE: HD) on a shareholder proposal calling on the company to prepare a diversity report. The resolution, filed by members of the Interfaith Center on Corporate Responsibility requests that the report include the following: 1. A chart identifying employees according to their gender and race, 2. A summary description of any affirmative action policies and programs, and 3. A description of any policies and programs oriented specifically toward increasing the number of managers who are qualified females or minorities. “Employment barriers …
Large Investor Coalition Urges Chevron to Explore Settlement in Rainforest Pollution Lawsuit; Related Shareholder Proposal Gets 25% of Vote
“The entire case is looming like a hammer over shareholders’ heads. Chevron should start fresh with a new approach that embraces environmental responsibility and risk management as part of its corporate culture. More legal proceedings will only delay the inevitable.” ~ New York State Comptroller Thomas P. DiNapoli …
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