The Winter 2013 Edition of Trillium’s Newsletter, Investing For A Better World, is Now Available
Articles in the Winter 2013 edition of Investing For A Better World include: • Is it Really Possible to Have a Fossil Fuel Free Investment Portfolio? by Leslie Samuelrich, Senior Vice President, Green Century Capital Management & Will Lana, CFA, Senior Vice President, Trillium Asset Management • Op-Ed: Citizens United and the 2012 Election by Jeffrey Clements, Esq., co-founder and President of Free Speech for People • Trillium Announces New Members of its Board of Directors • A Few Highlights from Trillium’s First 30 Years of Advocacy by Jonas Kron, Esq., Senior Vice President, Trillium Asset Management You can download this edition of Investing For A …
WSJ: Citigroup Chairman Not Pressing Bank Breakup
In the autumn of 2012, Trillium Asset Management LLC, on behalf of the Benedictine Sisters of Mount St. Scholastica, along with the AFSCME Employees Pension Plan filed a shareholder proposal with Citigroup Inc. (NYSE: C) asking the company’s board of directors to explore a possible separation of one or more of its business units. On February 20, 2013, the Wall Street Journal published a story regarding Citigroup Chair Michael O’Neil’s current thinking on exploring a breakup of the bank. Suzanne Kapner writes: “Even thinking about breaking up is hard to do. Just ask Citigroup Inc. Michael E. O’Neill was among …
Trillium Supports Proposal #2 on Apple Inc.’s 2013 Proxy Materials
Trillium Asset Management supports management Proposal #2 on Apple Inc.’s 2013 proxy materials. The proposal asks shareholders for approval to amend the company’s articles of incorporation to: 1. Eliminate certain language relating to the term of office of directors in order to facilitate the adoption of majority voting for the election of directors; 2. Eliminate “blank check” preferred stock; 3. Establish a par value for the Company’s common stock of $0.00001 per share; and 4. Make other conforming changes as set forth in the text of the amendment below, including eliminating provisions in the Articles relating to preferred stock of …
Investors Press Oil and Gas Companies to Reduce and Report Risks from Hydraulic Fracturing Operations
BOSTON, MA // FEBRUARY 5, 2013: Citing concerns over water management, toxic chemical disclosure, greenhouse gas emissions and other community impacts, investors have called upon 9 leading oil and gas companies to disclose critical information about the ways they are managing and measuring the risks associated with hydraulic fracturing, or “fracking,” operations and shale gas transmission. Shareholders have filed resolutions with Cabot Oil and Gas, Chevron, Exxon Mobil, EOG Resources, ONEOK, Pioneer Natural Resources, Spectra Energy, Range Resources and Ultra Petroleum challenging these companies to quantifiably measure and reduce environmental and societal impacts. “Now is the time for companies to …
Trillium Asset Management Announces the Election of Four Members to its Board of Directors
JANUARY 29, 2012 // BOSTON, MA: Trillium Asset Management, LLC (Trillium) announces the election of four members to its Board of Directors. “This new slate of Directors brings with it a deep level of commitment to corporate sustainability.” said Matthew Patsky, Trillium’s CEO. “Our employee/shareowners elected these directors to help build the firm’s long-term shareholder value with consideration of its strong social and environmental policies. I look forward to working with them as we position Trillium for its next 30 years”. Peter Kinder is an independent consultant on socially responsible investing and a blogger at The Bell and Accountability Central. …
Fossil Fuel-Free Investing at Trillium
The frequency and severity of extreme weather systems continues to impact the lives of people around the globe and increasingly in our own communities. Following Hurricane Sandy, many investors are becoming acutely aware of the presence of fossil fuel companies in their own portfolios. It seems clear that climate change is no longer solely a threat to future generations. The damage to the environment, economy, homes, and lives is happening today. The Trillium-managed Green Century Balanced Fund (Ticker: GCBLX) has been fossil fuel-free since 2005. In 2008, Trillium launched its Sustainable Opportunities strategy, which has been fossil fuel-free since inception. …
Information for Current Citigroup Shareholders Regarding Trillium's Shareholder Engagement
In the autumn of 2012, Trillium Asset Management LLC, on behalf of the Benedictine Sisters of Mount St. Scholastica, along with the AFSCME Employees Pension Plan filed a shareholder proposal with Citigroup Inc. (NYSE: C) asking the company’s board of directors to explore a possible separation of one or more of its business units. Despite some positive steps taken since the start of the financial crisis, we believe Citigroup’s progress toward simplifying and de-risking its business has been slow and incomplete. Citigroup boasts many attractive attributes, but remains burdened by excessive complexity, as well as the stigma and risks associated …
Charlotte News Observer Op-Ed: Time for Private Purchases of Renewable Power
The Charlotte News Observer published an Op-Ed, authored by Trillium’s CEO Matt Patsky, which advocates for the expansion of private sector solutions to financing renewable energy in North Carolina. “Five years ago, North Carolina became the first state in the Southeast to set a renewable energy and efficiency standard… Strong renewable energy standards like North Carolina’s are helping to build up supply chains and keep energy jobs here on our shores. …[C]ompanies are increasingly entering into long-term power purchase agreements with renewable energy developers. This way, they get the power they want – often solar panels installed right on their …
Matt Patsky Appears on CNBC to Discuss Citigroup’s Earnings and Trillium’s Shareholder Engagement with the Bank
Trillium’s CEO, Matt Patsky, was a guest on CNBC’s Squawk on the Street with Carl Quintanilla on January 17th. Matt discussed Citgroup’s (NYSE: C) disappointing earnings report and why the bank needs to explore restructuring to realize “greater value for the shareholder”. In the autumn of 2012, Trillium, on behalf of the Benedictine Sisters of Mount St. Scholastica, along with the AFSCME Employees Pension Plan filed a shareholder proposal with Citigroup asking the company’s board of directors to explore a possible separation of one or more of its business units. “We think that the company is not just ‘too big …
New AT&T Report on Net Neutrality Highlights ‘Failure in Corporate Citizenship' Say Investors
A new report by AT&T Inc. summarizing the company’s positions on so-called network neutrality principles highlights a “worrisome failure in corporate citizenship” and raises significant concerns about AT&T’s long-term commitment to open Internet principles that benefit the American economy and all consumers, according to a group of AT&T investors. The report was issued by AT&T last month (December 2012) in response to a proposal by shareholders concerned about the company’s current open Internet policies for wireless networks, which comprise the fastest-growing segment of the Internet. In 2011 wireless constituted about half of AT&T revenue; the company has projected that its …
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