MARCH 4, 2015: Trillium Asset Management (Trillium) is pleased to announce that we have withdrawn our shareholder proposal at The Home Depot (NYSE: HD), which was filed on behalf of Paul LeFort and co-filed with Zevin Asset Management, after the company set quantitative goals for the sourcing and/or production of renewable energy.
In making these commitments, Home Depot joins a growing number of companies that have already demonstrated the feasibility of investing in renewable energy to reduce emissions and power their businesses.
“Companies, especially those of Home Depot’s size, 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. “Home Depot has set achievable and measurable goals that will reduce emissions while also reducing the company’s exposure to volatile energy prices”.
“Setting these goals is a clear indication from Home Depot that they have heard shareholders’ concerns and are ready to act in a meaningful way to move towards more sustainable business operations,” added Sonia Kowal, President of Zevin Asset Management.
There is now a stronger emphasis on the need for companies to diversify their energy sources. Although energy efficiency is crucial for reducing emissions, there is a limit to how far operational efficiencies can carry a company relative to the reductions needed to mitigate the worst impacts of climate change. Sourcing renewable energy is essential to achieve the greatest emissions reductions.
We commend Home Depot for making these meaningful commitments and for recognizing the critical role renewable energy plays in a carbon reduction strategy.
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.