Trillium Asks Securities and Exchange Commission to Investigate Chevron Corporation’s Disclosures Re Historic Ecuadorian Judgment
Contact: Shelley Alpern, Trillium (617) 292-8026, x 248 Jonas Kron, Esq., Trillium (503) 592-0864 Sanford Lewis, Esq. (413) 549-7333 Boston, MA, May 23, 2011 – Trillium Asset Management (“Trillium”) has requested that the Securities and Exchange Commission (SEC) undertake a staff review to examine whether Chevron Corp. has appropriately disclosed to its shareholders the scope and magnitude of financial and operational risk from a recent adverse legal judgment in Ecuador. In its letter, Trillium states its belief that the issues raised may have “the potential to rise to the level of materiality under the securities laws.” After nearly two decades …
Trillium Signs on to Amicus Brief to Defend Montana's Ban on Corporate Political Contributions
Coalition of socially responsible investors seeks to protect the First Amendment rights of their investors Trillium Asset Management announced today that it has signed on to an amicus curiae brief in Western Tradition Partnership v. Attorney General of the State of Montana, currently before the Supreme Court of the State of Montana. Trillium is joined by a coalition of investors led by Domini Social Investments managing more than $100 billion. The coalition represents a wide range of institutional investors, including mutual fund managers, a private wealth manager, foundations, and healthcare systems. The investor brief supports the state of Montana’s defense …
2011 Bavaria Award Recipients: KLD Co-founder Peter Kinder and Root Capital's William Foote
Building a Sustainable Global Economy: KLD Co-founder Peter Kinder and Root Capital’s William Foote Recipients of 2011 Bavaria Awards May 11, 2011 OAKLAND—Socially responsible investing advocates Peter Kinder, co-founder and president until 2009 of KLD Research & Analytics, and William Foote, founder and CEO of Root Capital, were honored last night, May 10, by Ceres and Trillium Asset Management as this year’s winners of the fourth annual Joan Bavaria Awards for Building Sustainability into the Capital Markets. The announcement was made at the opening reception of the Ceres annual conference, which runs May 11-12, at the Oakland Marriott City Center …
Trillium joins investors in urging oil companies in Libya to cut off support to Qaddafi regime
Oil Companies Should Halt Revenue Payments to Government, Fund Civilian Recovery WASHINGTON, D.C. – Twenty-four institutional investors, including Trillium Asset Management, called on oil companies doing business in Libya to halt revenue or other payments to the Libyan government. The investors have called on oil companies to place revenue payments into a Libya Recovery Fund that would cut financial support from the government while avoiding undue economic harm to civilians. “Oil companies operating in Libya possess tremendous economic leverage and have an opportunity – and responsibility – to ensure their operations do not support the Libyan government, which has launched …
Target & Best Buy Announce New Policies on Political Spending
Target Corporation (NYSE: TGT) and Best Buy (NYSE: BBY) have revised their policies on political spending in the aftermath of the nationwide controversy that erupted following last summer’s contributions to MN Forward, an independent political committee that funneled money to a gubernatorial candidate known for his extreme opposition to lesbian and gay civil rights. The new policies culminate months of review by both companies. Target and Best Buy made contributions of $150,000 and $100,000, respectively, to MN Forward. After the contributions were disclosed in state filings, Target in particular drew the ire of retail consumers, gay rights organizations, and those …
Dear Reader
Over the past year, I have spent a lot of time traveling around the country meeting Trillium clients. It is a part of my job that I enjoy very much. You, our clients, have helped me understand what Trillium is doing well and what needs improvement. For over 25 years, Trillium and our clients have been successfully working with companies and communities to improve social and environmental outcomes. During that time, Trillium has consistently delivered competitive financial returns. We can’t do what we do without you, our clients. Thank you. For the past 13 years, Trillium has also had a …
South Africa Leads the World’s Stock Exchanges on Environmental and Social Reporting
Jonas Kron Investors are increasingly recognizing the important role that stock exchanges can play in improving corporate sustainability reporting and ultimately a sustainable economy. Markets, where investors and companies meet, are driven by information. Because of this strategic position, the exchanges, through their listing requirements (which dictate the information corporations must disclose on an annual basis in order to remain listed) have the power to either mandate or incentivize how companies report on their environmental and social impacts. They can also create indexes that recognize leaders in sustainability. One could argue that the most significant environmental and social impact of …
Congress: Companies Must Account for Conflict Minerals
Susan Baker Its wealth is unearthed by the poor, controlled by the strong, then sold to a world largely oblivious to its origin. So reads the “African natural resource curse” – a paradox of plenty. In few African nations has this curse brought greater conflict and environmental damage than in the Democratic Republic of Congo (DRC). When perpetrators of the genocide in Rwanda crossed the border, battles escalated with rebels and foreign armies for control of valuable mineral deposits. In Africa’s Eastern Congo and neighboring Uganda and Rwanda, the extraction and transport of “conflict minerals” – tin, tungsten, tantalum (the …
Hanging Out with Oliver Stone, Looking for Answers
Milton Moskowitz If Karl Marx was still living, I think he would probably be invited to ring the opening bell at the New York Stock Exchange or at NASDAQ. Or, more likely, the Hong Kong or Shanghai stock markets. And why not? His penetrating analysis of capitalism’s tendency to self-destruct might well have inspired some Wall Street traders to anticipate the financial crisis of the past two years. Dialectical materialisms certainly did not hinder Russia and China from creating huge capitalist corporations. On Monday, September 20, the film director Oliver Stone strode into NASDAQ’s site in the heart of Times …
Making a Difference from Behind a Desk
Catherine Pargeter After completing a graduate program in environmental science and management in 2006, most of my class was off to desk jobs in offices. Lucky were the ones who found a job that let them be outside for at least some part of the day. And then there was me. I grabbed my backpack and volunteered for three years with the U.S. Peace Corps. My village was in the Chikwawa district of southern Malawi. Surrounding the national park where I worked were vast sugar cane fields, with the headquarters of the sugar company 20 kilometers away. It was an …
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