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 …
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 …
An Impact Pioneer: How Joan Bavaria Harnessed Shareholder Power to Forge Corporate Change
By Rahul Kolluri Trillium’s history in shareholder advocacy stretches back three decades. Trillium’s founder Joan Bavaria was inspired by the Interfaith Center on Corporate Responsibility’s (ICCR) use of advocacy to push for divestment from companies doing business in Apartheid South Africa. With this example, Joan began similar campaigns at companies on a variety of environmental, labor and human rights, and diversity and equality issues. Through the next decades, coalitions of investors were able to demonstrate that combining the power of shareholders with their passion for change is a powerful asset in creating corporate reform. Environment Beginning in 1990, Joan was …
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 …
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 …
Tractor Supply Takes Action to Phase out ‘Neonic’ Pesticides
Boston, MA // May 30, 2018 – Trillium Asset Management commends Tractor Supply Company (NASDAQ :TSCO), the largest retailer of rural lifestyle stores, for providing in its recently published 2017 Stewardship Report clear disclosure and strategies to eliminate bee harming neonicotinoid (“neonic”) pesticides in its products and supply chain. In March, Trillium and Clean Yield Asset Management successfully withdrew a shareholder proposal asking the company to report on risks of selling pesticide-containing products linked to pollinator decline. Farms and backyard gardens maintained by Tractor Supply customers may provide important safe havens for pollinators. A typical farm or garden owner shopping …
Letter to Travelers Shareholders: Vote Yes for Workplace Diversity Proposal
May 18, 2018 // Boston, MA – Trillium Asset Management published a letter to Travelers Companies (NYSE: TRV) shareholders encouraging them to vote in favor of a proposal on the Company’s 2018 proxy. This proposal requests the company to disclose workforce diversity metrics as well as a description of policies and programs focused on increasing gender and racial diversity in the workplace. The letter provides the following rationale for voting ‘Yes’: 1. Travelers does not disclose any quantitative workforce diversity data 2. Evidence finds that greater workforce diversity may lead to better business outcomes 3. Providing detailed workforce information may …
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 …
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