Toxic Chemicals Shareholder Resolutions Printer-friendly version
Introduction
Toxics Debate
About 'Toxic' Chemicals
Regulatory Trends with Global Influence
International Initiatives
Regional and National Regulatory Trends
Regional & National Initiatives
Best Practice Examples
Investors Initiatives
Shareholder Resolutions
Scientific Research
NGO Activities and Information Centers


     Back to ASrIA Portal

 

Investor Environmental Health Network (IEHN)
http://www.iehn.org

Inspired by the effectiveness of the Investor Network on Climate Risk and The Carbon Disclosure Project in encouraging companies to recognize the impact of global climate change on long-term corporate value, IEHN was set up to urge companies to Green Century coordinates efforts with other shareholders to influence the companies in its portfolio to adopt cleaner and healthier practices and products. It engages companies on the merits of improving their environmental performance, and makes the case that such action may help them succeed financially as well. Address environmental health questions in relation to their products. By engaging with corporate management and filing resolutions if necessary, IEHN aims to help companies position themselves both to avoid future liabilities and to take advantage of potential value enhancement opportunities. Its website shows various shareholder resolutions that IEHN has been involved in as well as useful reference documents that are relevant to investors and senior corporate management.

Shareholder Resolutions Filed in 2007:

  • Bed, Bath and Beyond – Report on toxic chemicals in products
  • ServiceMaster – Synthetic pesticides in lawn care products
  • Sears – Sustainability report (PVC)
  • Scotts Miracle-Gro – Report on efforts to oppose local environmental health policies
  • Mohawk Industries – PFOA and PVC
  • Hasbro – Sustainability report (PVC)
  • DuPont – Chemical safety, PFOA

Shareholder Resolutions Filed in 2006:

  • Becton, Dickinson & Company- Shareholder proposal on environmental report
  • ConAgra - Report on certain materials in food packaging
  • DuPont - Report on increasing inherent security of chemical facilities
  • DuPont - Shareholder proposal on PFOA
  • Johnson & Johnson - cosmetics safety
  • Avon - Report on toxics policy
  • ServiceMaster - Report on the discontinuance of the use of lawn care pesticides
  • Dow Chemical - Report on chemicals with known links to asthma and other respiratory problems
  • Dow Chemical - Report on improving inherent security of chemical facilities
  • CVS - Cosmetics safety

Trillium Asset Management Corporation – History of shareholder resolution filing
http://www.trilliuminvest.com/pages/activism/activism_resolutions.aspx

Trillium advocates the term "shareownership" which reflects its belief that the individuals and institutions that own shares in companies have a right and a responsibility to provide guidance to management on pressing policy issues the company faces. To do this, Trillium is in constant communication with corporate officials. If dialogue fails, it is willing to exercise the rights of its clients as shareholders to file a resolution, which usually comes up for a vote at the company's annual meeting. The following are examples of resolutions filed in relation to chemical issues.

  • General Electric - Disclosure of costs of delay of cleanup of toxic sites
  • Dow Chemical - Report regarding certain toxic substances
  • Dow Chemical - Report on dioxin and persistent toxics policies
  • Dow Chemical - Report on products' links to asthma & other respiratory problems
  • PG&E - Report on toxic air emissions
  • Chevron - Disclose costs related to Ecuador litigation
  • Avon - Expand disclosure related to breast cancer fundraising and grant distribution

Health Care Without Harm (HCWH) – Resolutions and shareholder MOUs on PVC, DEHP, Dioxin, Medical Waste Incineration
http://www.noharm.org/us/pvcDehp/reducingPVC

Established in 1996, HCWH is an international coalition of hospitals and health care systems, medical professionals, community groups, health-affected constituencies, labor unions, environmental health organizations and religious groups. Its mission is to transform the health care industry worldwide to be an ecologically sustainable one, without compromising patient safety or care. HCWH has been working with health care facilities to phase out the use of PVC, by developing case studies to showcase their efforts for other healthcare facilities. Its website also provides information on the history of "Resolutions and Shareholder MOUs on PVC, DEHP, Dioxin, Medical Waste Incineration" filed by medical organizations and municipal governments.

Boston Common Asset Management – Active investor social update
http://www.bostoncommonasset.com/socialmemo/index.html

Boston Common tries to leverage its clients' rights as shareholders to engage companies on their practices and encourage reform. The details of its activities are reported on a quarterly basis and can be found in the section called"Active Investor Social Update" in its website.

Calvert Social Investment Fund (CSIF) – History of shareholder resolution filing
http://www.calvert.com/sri_648.html

CSIF became the first mutual fund to file a shareholder resolution in the US in 1986. Calvert funds continues to propose shareholder resolutions on a variety of issues when their dialogue with corporate managers is unsuccessful in persuading a company to take action. Calvert filed 34 resolutions so far in 2007, followed by 26 in 2005 and 17 in 2006.

Citizens Advisers, Inc. – Shareholder activism report
http://www.citizensfunds.com/responsible/activism.htm

Citizens is committed to shareholder activism and advocacy as part of an ongoing effort to encourage the companies it invests in to address corporate, social and environmental concerns that may affect shareholder value. If it uncovers issues that need to be addressed in the process of investment process, Citizens engages in dialogue with company executives, writes letters and/or files or co-files resolutions that bring the issues to a vote by shareholders.

Domini Social Investments – History of shareholder resolution filing
http://www.domini.com/shareholder-advocacy/History-of/index.htm

Domoni has actively engaged in shareholder activism since 1996 – through direct dialogue with corporations in its portfolios and the filing of shareholder resolutions. In 2006, Domini filed two chemical related resolutions: Avon on toxic policy report and Becton Dickinson on brominated fire retardants.

Ethical Funds Company – Shareholder resolution cases
http://www.ethicalfunds.com/do_the_right_thing/sri/shareholder_action/shareholder_resolutions.asp

The Ethical Funds is the first mutual fund company in Canada to file shareholder resolutions on socially responsible business policies and practices. As of 2007, the Ethical Funds Company has filed shareholder resolutions with 13 companies on a variety of issues such as climate change, biodiversity, sustainability reporting, etc. 

Green Century Capital Management – Proxy voting and corporate engagement history
http://www.greencentury.com/shareholder/

Green Century coordinates efforts with other shareholders to influence the companies in its portfolio to adopt cleaner and healthier practices and products. It engages companies on the merits of improving their environmental performance, and makes the case that such action may help them succeed financially as well.

Others - "Voting on Sustainability by Seven Large Dutch Investors", which includes text of shareholder proposals and company proxy statements
http://www.abnamro.com/com/about/sd/report2005/vbdoreport.pdf

 

  Back to Top



Association for Sustainable & Responsible Investment in Asia © 2001 - Quotation, copying or use of materials from this website is permitted with due credit.  Powered By Ideo Concepts