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Advocacy Update: An Inch at a Time Download PDF

First Affirmative co-filed three shareholder proposals for the 2009 proxy season, and one has already been withdrawn! Intel’s Board of Directors has adopted the Advisory Vote on executive compensation, which will allow shareholders to vote their non-binding approval or disapproval of executive compensation packages.

Agreement [photo]Each year, many resolutions are withdrawn by filers due to advocacy work that happens behind the scenes. Companies frequently agree to work with advocates to address issues raised by investors and avoid proxy votes.

Outstanding ballot resolutions include one at ConocoPhillips requesting a report on the environmental risks of oil sands development and one at Enbridge regarding free, prior, and informed consent for oil development on First Nations lands.

Separately, more than 65 shareholder resolutions were filed by investment managers who manage assets in First Affirmative client portfolios. More than a dozen have been filed in support of sustainability reporting, and several have been filed requesting reports on predatory credit card practices and predatory lending at some of the nation’s largest financial services companies.

 
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