Report on Bisphenol A in Thermal Receipt Paper- Panera Bread Company (2012)
WHEREAS: The value of Panera Bread Company’s brand is based in part on customer trust. We believe that if the company’s cash register thermal receipt paper contain bisphenol A (BPA), a potentially hazardous chemical, that trust could be put at risk. The U.S. Environmental Protection Agency (EPA) has stated “Some receipts made of thermal paper may now contain as much as 10 mg. of BPA, which could pose a risk for human exposure, as well as account for substantial environmental releases of BPA.” http://www.epa.gov/dfe/pubs/projects/bpa/index.htm BPA reportedly mimics estrogen in the body; a number of animal studies link BPA, even …
Still “Impactful” After All These Years
Jonas Kron, JD In the Winter 2011 issue of Investing For A Better World, our colleague Farnum Brown described shareholder advocacy as version 2.0 on SRI’s (socially responsible investment’s) travels towards 3.0, and discussed the importance of directly pressing companies to improve their environmental and social impacts. Similarly, Amy Domini of Domini Social Investments recently wrote passionately in the Huffington Post about the importance of shareholder advocacy as a meaningful way for investors to have a positive impact on the world. Both pieces touched upon the ongoing debate about what to call our field. What was once “socially responsible” or …
Trillium Wraps Up 2010 Proxy Season
The 2009-2010 proxy season was marked by a number of strong votes on shareholder proposals and successful corporate dialogues sponsored by Trillium Asset Management Corporation. “Across the industry, investor support for environmental, social and governance proposals (ESG) has climbed dramatically in the last several years,” said Shelley Alpern, Director of ESG Research and Shareholder Engagement at Trillium. “Support for our proposals reflected this trend almost across the board, with the median level of support reaching 26 percent. If abstentions are considered as an indicator of investor dissatisfaction, it is clear in several cases that shareholders are even more dissatisfied with …
Mamma Chia
www.mammachia.com by Chris Lindstrom, an early investor in Mamma Chia When many people hear the word “chia” they think of little ceramic pets that sprout green leafy “hair.” But a growing number of people know it as a miraculous seed that is one of the most nutritious whole foods in the world – and soon, they will know it as a delicious vitality beverage. Mamma Chia is an organic, chia-based food and beverage company based in San Diego, backed by a provisional patent that will be launching its first-to-market chia vitality beverage later this year. Mamma Chia contains hundreds of …
Heading into Corporate Annual Meeting Season, Trillium Announces Four Shareholder Proposals Withdrawn
Trillium Asset Management Corporation (“Trillium”) is pleased to announce the withdrawal of four shareholder 2010 resolutions as we head into the annual meeting season. Resolutions filed with Plum Creek Timber, Lincoln Electric, State Street Bank and Whole Foods Market have resulted in changes to corporate policies that will have a positive impact on transparency, corporate governance and workplace diversity. Plum Creek Timber Company (PCL): Say on Pay Our “say on pay” proposal called upon management to submit an advisory resolution on executive compensation for shareholder approval at annual meetings. After evaluating the resolution, for which Trillium was the lead filer, …
Trillium's 2010 Shareholder Resolutions At-A-Glance
Note: This list includes “lead filings,” where Trillium Asset Management Corporation heads up a coalition of shareholder advocates, and “co-filings,” in which we participate in filings led by others. In the table below, our lead filings are indicated in bold. Coal Ash FirstEnergy** Report on efforts to manage coal combustion waste Withdrawn In-person shareholder meetings Intel*,** Drop plans to conduct shareholder meetings exclusively online Withdrawn Environmental Health Coca Cola Report on Alternatives to Bisphenol-A 21.92% Environmental Justice Chevron Add environmental expert to Board of Directors 26.77% Equal Employment Opportunity PPG Disclose environmental impacts at community level 7.08% Equal Employment Opportunity …
Trillium Co-files Shareholder Proposal at Whole Foods Markets
October 14, 2009 — Trillium Asset Management Corporation has joined the union conglomerate Change to Win and Hermes, the British investment company, in filing a binding bylaw proposal at Whole Foods Markets (NASDAQ: WFMI). The bylaw change would mandate that the Chair of the Board of directors be “independent” of the company, which would exclude any current employees such as the current Whole Foods Board Chair and CEO, John Mackey. Mackey, the founder of Whole Foods, has been a controversial leader. His pseudonymous internet postings denigrating the Wild Oats grocery chain, later acquired by Whole Foods, led the Federal Trade …
Whole Foods Markets – Establish Independent Chair (2010)
RESOLVED That pursuant to Section 2.23 of the Texas Business Corporation Act and Article IX of the Amended and Restated Bylaws of Whole Foods Market, Inc., the stockholders of Whole Foods Market, Inc. hereby amend those Bylaws as follows: • Article III, entitled “Directors”, is amended by adding the following section 13: “Independent Chairman. The Chairman of the Board shall be a director who is independent from the Corporation. For purposes of this requirement, “independent” has the meaning set forth in New York Stock Exchange (“NYSE”) listing standards, unless the Corporation’s common stock ceases to be listed on the NYSE …
Indecent Exposure
Over the past year, the chemical bisphenol A (BPA) has received increasing scrutiny from consumers, scientists, regulators, the media and investors. You may have heard about it when Canada declared it unsafe. Or maybe when the water bottle manufacturer Nalgene (a brand of Thermo Fisher Scientific), announced it was phasing out its use of BPA. Or when Connecticut Attorney General Richard Blumenthal announced his office would investigate allegations that companies are using “fear tactics, political manipulation and misleading marketing” reminisent of Big Tobacco to fight regulation of BPA. Perhaps it was when California announced it might follow Connecticut, Minnesota, the …
I’ll Have the Souffle
In March, nervous that the Employee Free Choice Act being introduced before Congress would depress Wal Mart’s earning potential, Citigroup’s research division lowered Wal Mart from a buy to a hold recommendation. The bill, also known as EFCA, would make it easier for employees to form unions, and is supported by the Obama Administration. In the Trillium article Keeping the SRI in ESG, the efforts of some major Wall Street firms to incorporate environmental, social and governance (ESG) factors into their investment decision making are desribed. For a while, Citigroup also issued research advice from an ESG perspective, but that office was …
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