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Trillium Successfully Withdraws Renewable Energy Shareholder Proposal at 3M

February 4, 2015: Trillium Asset Management (Trillium) is pleased to announce that we have withdrawn our shareholder proposal at 3M (NYSE: MMM) following a commitment from the company that it will set quantitative goals for the sourcing and/or production of renewable energy.

The proposal asks the company to incorporate renewable energy into the company’s climate change strategy. To meet these goals, 3M has announced that it will use a mix of on-site production and long-term Power Purchase Agreements (PPA) with specific renewable energy projects. In addition to these goals, the company will announce Greenhouse Gas reduction goals in their 2015 Sustainability Report.

“Companies increasingly have the opportunity to drive significant change in the demand and consumption of clean energy,” said Brianna Murphy, Trillium’s Vice President Shareholder Advocacy and Corporate Engagement. “By making this commitment, 3M is demonstrating a proactive approach to reducing exposure to volatile energy prices, enhancing U.S. energy security, reducing reputational risk, and meeting the global need for cleaner energy.”

We commend 3M for making these meaningful commitments and for recognizing the critical role renewable energy plays in a carbon reduction strategy.

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For more information: Randy Rice, Trillium Asset Management, (617) 515-6889, rrice@trilliuminvest.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.

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