Trillium’s 2013-14 Corporate Engagement Highlights
During the 2013-2014 proxy season, Trillium filed more than two dozen shareholder proposals with publicly traded U.S. companies and engaged with scores more through direct outreach, sign-on letters and in-person meetings. Our corporate engagement addressed a wide range of issues including climate change, board diversity, workplace discrimination, political and lobbying spending, privacy and data security as well as indigenous rights. You can read about some of the highlights here. …
Two Decades Later, Trillium Still Engaging Companies on Diversity
By Susan Baker and Randy Rice Trillium Asset Management believes that diversity, inclusive of gender and race, is an essential component of sound governance and a critical attribute to a well-functioning organization. We strive to achieve diversity at all levels and seek to invest in companies that are doing the same—from the mail room to the board room. Using tools including shareholder dialogue and advocacy, our founder, Joan Bavaria, helped establish and promote the concept of using stock ownership to improve corporate outcomes on the environment, human rights, workplace diversity, and other areas. Many of America’s largest corporations have programs …
Spotlight on Trillium’s Small/Mid Cap Portfolio
Trillium’s Small/Mid Cap (SMID) portfolio was launched in 2001 and invests in small and mid-capitalization companies across economic sectors that also meet Trillium’s sustainability criteria. As of March 31, 2014, the strategy has over $100 million in assets. The SMID investment strategy team, led by Laura McGonagle, CFA, seeks to find stocks with superior earnings growth prospects that are available at a reasonable price. Prior to joining Trillium in 2001, Laura was a sell-side equity analyst focusing on consumers’ growing awareness of the impact of nutrition, environment, and lifestyle choices on their well-being. Investing For a Better World’s editor, Randy …
Trillium Responds to Wall Street Journal Editorial Regarding Corporate Political Spending Disclosure
An abridged version of Trillium’s response, along with a letter from the Center for Political Accountability, was posted to the Wall Street Journal website, yesterday. ***** In the wake of the U.S. Supreme Court decision in Citizens United there has been increasing concern about corporate dollars flowing into political races via trade associations and other tax exempt organizations. Trillium Asset Management supports transparency and accountability in corporate spending on political activities. We believe that disclosure is in the best interest of companies, their shareholders, our democracy and our economy. Our firm engages companies on these issues …
Sustainability Reporting Proposal at Chipotle Receives More Than 30% of Vote
May 2014: Shareholders sent a strong message to the management of Chipotle Mexican Grill (NYSE: CMG) on May 15, with roughly one in three votes cast in favor of a request for a sustainability report. The proposal received a 31.3% vote, representing $3.5 billion. The shareholder proposal, filed by Trillium Asset Management LLC and Domini Social Investments,as co-filer, requested the Board of Directors to: issue an annual sustainability report describing the company’sshort- and long-term responses to ESG-related issues. The report should include objective quantitative indicators and goals relating to each issue where feasible, be prepared at a reasonable cost, …
On Demand Webcast Replay: Trillium’s All Cap Core Strategy
Trillium’s All Cap Core Strategy Update, which took place on Thursday, May 22, 2014, is now available for on-demand replay by clicking the link below (Note: The video may take a few seconds to load.): Trillium’s All Cap Core Strategy Update This strategy seeks to provide long-term competitive returns by investing across the range of market capitalizations and economic sectors in companies that meet Trillium’s sustainability criteria. The strategy employs fundamental equity analysis that integrates Environmental, Social and Governance factors and emphasizes higher growth companies trading at reasonable valuations. …
Lowe’s Commits to Greenhouse Gas Emission Targets – Trillium Withdraws Shareholder Proposal
May 27, 2014 // BOSTON, MA: Trillium Asset Management is pleased to announce that we have successfully withdrawn our shareholder proposal at Lowe’s (NYSE: LOW) following commitments from the company to set quantitative targets for the reduction of greenhouse gas emissions. Lowe’s has committed to setting a scope 2 reduction goal (emissions from purchased electricity), which targets the largest portion of the company’s emissions. The company has set an intensity goal to reduce green house gas emissions 20% by 2020. The target will be included in the company’s Social Responsibility report as well as in the company’s 2015 form …
Valuewalk.com: SRI Groups Appear To Be The Most Active Investors
ValueWalk.com recently published an article about corporate engagement in the Sustainable and Responsible Investing industry. Michael Ide writes: “…Trillium Asset Management, which had the highest percent VAM (votes against management) and $1.5 billion AUM, was unsurprised to learn that they voted against management more than half the time, or that they were one of the most vocal investors that a company might have to work with. Trillium actively engages management on environmental issues, privacy concerns, disclosure and accountability for political donations, and more. It is also stringent on compensation packages. ‘We have high standards on remuneration, and draw a hard …
GreenBiz: Starbucks, Green Mountain and McDonald’s Pour on Coffee Efforts
GreenBiz.com recently published a story on how companies with significant coffee interests are responding to the reality of climate change. Christina DesMarais writes: “Climate change poses challenges for many industries, but it’s particularly troublesome for the $81 billion global coffee industry, which relies on a fussy plant that likes temperatures to be within a band of about 19 to 25 degrees Celsius… When you think of the Smuckers brand, jams and jellies probably come to mind, but as of January coffee actually accounted for 47 percent of the J.M. Smucker Company’s sales. Dunkin’ Donuts, Folgers and Millstone are all Smuckers …
Investors Applaud Federal Court Decision Denying Suspension of Conflict Mineral Reporting Rule
MAY 15, 2014: Investors welcome the decision by the U.S. Court of Appeals for the D.C. Circuit to deny trade associations’ request for a temporary stay of the Securities and Exchange Commission (SEC) conflict minerals reporting rule for Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Many companies, including those with complex global supply chains, have demonstrated the willingness and ability to comply with the rule by conducting due diligence and preparing disclosures. The SEC has made clear that it expects companies to file reports by the June 2 deadline, and yesterday’s court decision eliminates any …
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