JANUARY 7, 2015: Trillium Asset Management, Walden Asset Management, Boston Common Asset Management, and Calvert Investments are pleased to announce they have successfully withdrawn their shareholder proposal at Costco Wholesale (NASDAQ: COST) regarding greenhouse gas emissions and climate change policy.
The proposal was withdrawn following several commitments from the company including resuming participation in the CDP (Carbon Disclosure Project). In addition, Costco’s next sustainability report in 2015 will include a discussion of the company’s approach to energy use within the context of the Intergovernmental Panel on Climate Change recommendations and the Copenhagen Accord’s agreement to attempt to limit global warming to 2 degrees Celsius. Costco has also committed to keeping the growth of its GHG emission to less than its sales growth over the next five years and to an ongoing dialogue. Costco’s commitments build on its previous efforts on renewable energy highlighted in the Power Forward 2 report, and on energy efficiency, which have enabled the company to grow its sales from 2008 to 2011 without increasing its emissions.
We commend Costco for taking these positive steps towards addressing the company’s exposure to climate change. Managing and reporting on climate change business practices helps companies compete in a global business environment, build resilient supply chains, manage operational and reputational risk, and create new products and services. We believe the positive steps taken by Costco will keep it on the path towards greater efficiency, increased savings and playing an important role in addressing climate change.
For more information: Randy Rice, Trillium Asset Management, (617) 515-6889, email@example.com
IMPORTANT DISCLOSURE: The views expressed are those of the authors and Trillium Asset Management, LLC as of the date referenced and are subject to change at any time based on market or other conditions. These views are not intended to be a forecast of future events or a guarantee of future results. These views may not be relied upon as investment advice. The information provided in this material should not be considered 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. To the extent specific securities are mentioned, they have been selected by the authors on an objective basis to illustrate views expressed in the commentary and do not represent all of the securities purchased, sold or recommended for advisory clients. The information contained herein has been prepared from sources believed reliable but is not guaranteed by us as to its timeliness or accuracy, and is not a complete summary or statement of all available data. This piece is for informational purposes and should not be construed as a research report.