Tell the SEC That Shareholder Resolutions Matter
Investors have real power to change corporate behavior for the better. On issues from climate change to sweatshops, from toxic chemicals to CEO compensation, Domini and our fund investors have used that power to tell the companies we own what we expect of them, and to help build a fairer and more sustainable world. One of our most important tools is the right to propose shareholder resolutions, on which every company shareholder then gets to vote.
The Securities and Exchange Commission is currently considering whether to issue new rules that could restrict or eliminate this essential tool for corporate accountability. Domini, on behalf of our investors, has filed about 150 of these resolutions since 1994. They have helped us convince companies to report their greenhouse gas emissions, adopt strong policies to protect the fundamental rights of workers in their global supply chains, publish sustainability reports, disclose political contributions, prohibit discrimination against gay and lesbian employees, and more.
In July, we asked Domini shareholders to contact the SEC about this important issue. More than 400 people responded in a matter of days, and the SEC heard us - actually referring to those emails in their recent proposal.
Now, your help is needed even more urgently. The SEC is seeking public comment on a series of concepts that, if adopted, could virtually eliminate shareholder resolutions. In some cases, the SEC is considering allowing companies to simply "opt out" of the process altogether. Please act now to make sure the SEC understands that investors like you value your voice in the boardrooms of the companies you own.
How can you help? Please send the customizable letter below to urge the SEC to protect shareholders' rights to propose nonbinding shareholder resolutions. Click "send message" below to send your message to Christopher Cox, the chairman of the SEC. Your prompt action can make a difference! Please note that your name (but not your email address) may appear on the SEC website. (Note: Tags like this "<p>" are for paragraph breaks. Please leave them in if you want a break to appear.)
Learn More: View the SEC's proposal, which contains (beginning at page 50) a series of open questions relating to the ability to file nonbinding shareholder proposals. (Domini's original Action Alert is referenced as “Form Letter B” in footnote 70 on page 50.)
View comments that have been submitted to the SEC.
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