Trillium Lobbies Berkshire Hathaway Shareholders in Support of Sustainability Reporting Proposal
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Boston, MA (April 27, 2009) Trillium Asset Management Corporation (“Trillium”) is joining two nonprofit advocacy organizations, the International Labor Rights Forum and the International Rivers Network, in calling on fellow Berkshire Hathaway investors to back a proposal on the agenda for the company’s upcoming May 2, 2009 annual meeting which requests that Berkshire prepare a Sustainability Report on its performance on environmental and social issues. Boston-based Trillium today released a letter filed last week with the Securities and Exchange Commission and sent to Berkshire’s nearly 2,000 institutional shareholders, who own more than $26 billion in its preferred and common stock. The letter urges a vote in favor of the proposal, which was submitted by Berkshire shareholder Joseph G. Petrofsky. The letter comes in the wake of a report recently issued by leading shareholder advisory firm PROXY Governance that recommends a vote in favor of the resolution, calling Berkshires disclosure of environmental and social issues affecting its portfolio relatively poor, and concluding that additional disclosure in this area would help shareholders. Read more.
Putting China on the Spot for Sudan
Trillium Spearheads Effort to Protect and Enhance Shareholder Rights
Obama Administration has the Opportunity to Reverse SEC Policies that Censored Environmental and Social Inquiries
The current financial and economic crisis demonstrates the extent to which all sectors and all participants in the market, whether companies, investors, employees, or communities, are interrelated and deeply affected by the actions of any one participant. Protecting and enhancing the rights of investors to seek and receive information from their companies about company activities improves the stability of the financial system as a whole. President-elect Barack Obama can help to avoid future market disruptions and also pave the way for a sustainable economy if he protects and strengthens investors’ rights to use the shareholder resolution process to highlight corporate risk factors and press for needed remedies, according to a joint letter submitted today by more than 60 leading U.S. institutional investors, investment firms and investor groups representing more than $5 trillion in assets.
Letter to President-Elect Obama
Social Issues
At any given time, the social research and advocacy staff of Trillium Asset Management Corporation are actively working on numerous social and environmental issues of concern to our clients. (Please visit our Engagement page to read more about the means we use to influence corporations.)
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