ORRVILLE, OH // AUGUST 10, 2017: Trillium Asset Management has published a letter to shareholders of J.M. Smucker Company (NYSE: SJM) urging them to vote next Wednesday, August 16, 2017, in favor of a shareholder proposal on the company’s 2017 proxy card. The proposal, asks J.M. Smucker to issue a report by January 2018 analyzing and proposing how the company can increase renewable energy sourcing and/or production.
The letter provides the following rationale for voting “Yes”:
- Opportunities: Increased renewable energy sourcing can lead to cost savings, improve the company’s license to operate, and enhance U.S. energy security
- Risk management: Investing in renewable energy may reduce Smucker’s exposure to volatile energy prices and reduce reputational risk
- Smucker’s opposition statement is non-responsive and it fails to disclose the company’s evaluation of renewable energy.
- The company may be lagging behind peers who are already successfully using renewable energy
“Implementing the proposal would allow investors to better assess the company’s risks and opportunities around renewable energy,” said Brianna Murphy, Vice President of Shareholder Advocacy at Trillium Asset Management. “We are deeply concerned that [Smucker] is not taking even modest advantage of the financial, social and environmental opportunities that renewable energy presents to the company, its stakeholders, and its shareholders.”
By creating renewable energy targets for sourcing and/or production, Smucker can reduce its exposure to fluctuating energy prices, diversify its energy sources, and move closer to achieving its greenhouse gas (GHG) reduction goal.
Read the letter to shareholders by clicking here.
Contact: Brianna Murphy, Trillium Asset Management, 617-532-6662, firstname.lastname@example.org
Trillium Asset Management, LLC is the oldest independent investment advisor devoted exclusively to sustainable and responsible investing. With over $2 billion in assets under management, Trillium has been managing equity and fixed income investments for high net worth individuals, foundations, endowments, religious institutions, and other nonprofits since 1982. A leader in shareholder advocacy and public policy work, Trillium’s goal is to deliver both impact and performance to its investors.
The information provided is not a recommendation to buy or sell the security mentioned. The security was selected on an objective basis for illustrative purposes and does not represent all of the securities purchased, sold or recommended. It should not be assumed that investments in the security has been or will be profitable.