“Shareholder advocacy group As You Sow, which filed the resolution, responded this week by saying shareholders were not demanding disclosures requiring the kind of ‘intricate detail’ outlawed by SEC guidance.” Read More →
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ESG disclosure is maturing and starting to get the support it needs from the SEC, said Andrew Behar, CEO of As You Sow, a shareholder advocacy group that pushes companies to be more socially responsible.
“It’s all moving us into a place where we can actually judge which companies are part of an economy based on justice and sustainability,” Behar said. Read More →
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“Politics should be separate from markets,” said Danielle Fugere, president of shareholder advocacy group As You Sow. “The world is transitioning towards a greener economy, and markets are adjusting to that. It is absurd for lawmakers to think that they’re going to put a stop to that progress. It would be detrimental to U.S. businesses.” Read More →
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"We are concerned that the Proposal's division of funds into three separate categories does not reflect the reality of how fund managers incorporate ESG factors in investment and stewardship decision-making, which could increase compliance costs," As You Sow CEO Andrew Behar said in a letter to the SEC. Read More →
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Shareholder advocacy non-profit As You Sow also welcomed the change, with the organisation’s President, Danielle Fugere, calling it a “timely and necessary” move which would help shareholders play a “critical role in ensuring companies are addressing issues that create risk and opportunity and can affect shareholder value”. Read More →
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“This guidance, which underscores the [right of] shareholders to raise and vote on important issues, is timely and necessary,” Danielle Fugere, president of As You Sow, said in a statement. Read More →
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“As You Sow and the shareholders we represent believe that corporations need to disclose greater detail about their policies and practices to include material environmental, social, and governance” data, Behar said. Read More →
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Phillip Goldstein, a co-founder of Bulldog Investors LLC, wrote the SEC in March to urge the agency to stop a potential move by companies to opt out of the rule by only allowing votes on shareholder proposals that have been approved by a company board… Other stakeholders such as Andrew Behar, the chief executive officer of the non-profit organization As You Sow, says worries about excessive shareholder proposals are overblown. Read More →
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Corporate boards, on the other hand, don’t tend to share the same appreciation. Companies aren’t as comfortable having explosive concerns aired in “the public eye…where they cannot necessarily control what is said about them,” says Welsh, whose organization produces the Proxy Preview with the nonprofit shareholder activist organization As You Sow and Proxy Impact, a shareholder advocacy and proxy voting service. Read More →
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Green America, a not-for-profit membership organization focused on the economic power of consumers, investors and businesses to create an environmentally sustainable economy, along with Americans for Financial Reform and As You Sow, delivered the petition. Read More →
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Green America, Americans for Financial Reform (AFR) and As You Sow delivered the signatures today to the SEC at its Washington, D.C., offices at 100 F Street NE. Signatures also were gathered by Public Citizen and Interfaith Center on Corporate Responsibility (ICCR). Read More →
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“Reducing greenhouse gas emissions at the margins, while continuing business as usual as Exxon and Chevron are doing, is not a successful long-term business plan, especially when competitor companies are implementing new paths to thrive in a low-carbon economy,” said Danielle Fugere, president of As You Sow, sponsor of resolutions demanding Chevron and Exxon align their business models with the goals of the Paris Agreement. Read More →
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The power of the shareholder to hold accountable the companies in which they invest is under threat in the US.
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The U.S. Securities and Exchange Commission formally proposed a new rule on Tuesday that could make it harder for shareholders to submit proposals dealing with social issues like executive pay and climate change.
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The Securities and Exchange Commission proposed Tuesday two long-anticipated rules that seek to limit shareholders’ influence over how companies address contentious issues such as climate change and executive compensation.
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Law360 (April 9, 2019, 7:09 PM EDT) -- The U.S. Securities and Exchange Commission is drawing new boundaries around how shareholders in ExxonMobil and other energy companies can demand climate change-related actions like reducing corporate carbon footprints and demanding disclosures on progress.
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Imagine a Walmart semi-truck rolling down the interstate with its back doors open, plasma-screen televisions tumbling out onto the highway, crashing through windshields and causing chaos.
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