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CONTENTS EdEvidence Newsletter

October 2007

Impressive Results from Shareholder Resolutions

A 45% vote on a resolution at Hasbro focusing on PVC (polyvinyl chloride) and requesting a corporate sustainability report was the highlight of a successful 2007 proxy season for IEHN resolutions. The vote represented the second highest vote on record for a sustainability report resolution opposed by corporate management. Another highlight was a 22% vote on a resolution at Bed, Bath, and Beyond requesting corporate management to report on issues associated with PVC, safer cosmetics, and a chemical named PFOA used in the manufacture of nonstick pans and stain resistant carpeting. IEHN participants filed 13 resolutions in the 2007 proxy season compared to 12 in 2006. Resolutions were withdrawn at Sears, in exchange for a dialogue on PVC policy, at Mohawk Industries, which revealed its impressive efforts to phase out PVC and PFOA, at Apple, which agreed to strengthen its policies on PVC and brominated flame retardants, at ConAgra, which disclosed plans to reduce use of PFOA in food packaging, and at CVS, which agreed to a dialogue with investors on safer cosmetics policies. For a complete list of resolutions and outcomes, see our website, www.iehn.org.

The shareholder resolutions represent just the tip of the iceberg of IEHN's corporate engagements. The shareholder resolutions are publicly visible; less visible but no less valuable are the numerous dialogues IEHN's investor members have had with companies without filing shareholder resolutions, where companies have revealed steps they're taking to address toxic concerns and have benefited from the exchange of information and expertise that these dialogues have offered.

 

 


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