Starbucks, Responding to Investor Pressure, Steps Up
October 30, 2018: This week Starbucks took a significant step in demonstrating its commitment to workforce diversity. The company published data containing detailed information about the gender and minority-status for all 277,000 employees. Employees are categorized across five high-level roles and also categorized by companywide racial and ethnic data. The chart provides meaningful disclosures alongside diversity goals and initiatives focused on attracting and retaining women and underrepresented minorities in its workforce. Last fall Trillium Asset Management filed a shareholder proposal asking Starbucks to report this exact information as a way to measure the company’s progress in increasing gender and racial …
Illinois State Treasurer Frerichs, Rhode Island State Treasurer Magaziner, Pennsylvania Treasurer Torsella, and New York City Comptroller Stringer Press for Independent Board Chair at Facebook
FOR IMMEDIATE RELEASE October 17, 2018 CONTACT: Paris Ervin, Illinois 217.524.5749 Pervin@illinoistreasurer.gov Evan England, Rhode Island, 401.222.2240 evan.england@treasury.ri.gov Heidi Havens, Pennsylvania 717.787.2991 hhavens@patreasury.gov Tian Weinberg, New York City 646.988.5627 tweinbe@comptroller.nyc.gov Jonas Kron, Trillium 413.522.2899 jkron@trilliuminvest.com Opening a new front at Facebook, Illinois State Treasurer Michael Frerichs, Rhode Island State Treasurer Seth Magaziner, Pennsylvania Treasurer Joe Torsella, and New York City Comptroller Scott Stringer today co-filed a shareholder proposal asking the Facebook board of directors to make the role of Board Chair an independent position. Doing so is best governance practice that will be in the interest of shareholders, employees, users, …
A Solid Foundation: Nike Launches Milestone Ad-Campaign Supporting Social Justice Issues. Trillium wonders what’s next.
September 21, 2018 // Boston, MA Nike’s latest ad-campaign featuring Colin Kaepernick is a defining moment for the protests he began over two years ago and we commend Nike for rekindling the public conversation around systemic racism and police brutality. This ad-campaign sends another important signal that Nike is committed to advancing discussions brought forth by Mr. Kaepernick and other athletes around social inequities. The need for Nike to step in was clear after the NFL instituted its “no-kneeling” policy in May 2018. Trillium, along with many others, saw this policy as an attack on free speech and another form …
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 …
California Passes Historic Climate Bill
September 14, 2018 // Boston, MA Last week California Governor Jerry Brown signed one of the most ambitious climate policies in the United States. The new law, SB100, sets California on a path to source 100% clean energy by 2045 making it just the second state with such an ambition. Setting this new goal was a key next step that will help the state achieve its GHG reduction goals, while also ensuring continued investment in clean energy projects. This ambitious, long-term climate bill provides the much desired market certainty and predictability needed for business planning and for investors. Over the …
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 …
Businesses Urge US Court to Uphold Coverage of Reproductive Health Care Benefits
June 19, 2018 // Boston, MA – Last week, Trillium Asset Management joined the U.S. Women’s Chamber of Commerce and a group of 15 businesses in submitting an amicus brief to the 9th Circuit Court of Appeals. This brief urges the court to uphold the Affordable Care Act’s (ACA) requirement that employers provide comprehensive sexual and reproductive health coverage to their employees. If the federal agencies succeed in their appeal efforts, we believe many employers would seek exemptions from the ACA requirement, meaning many thousands of women will lose access to this “essential health benefit”. The amicus brief explains how …
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