More Social-Issue Shareholder Resolutions

The Social Investment Forum (SIF) reported May 30 that investors are filing a record number of social and environmental shareholder resolutions this year, led by resolutions on climate change, increased disclosure of political contributions and trade and association ties, and enhanced sustainability reporting, citing data from Institutional Shareholder Services (ISS). The Forum said such shareholder pressure, particularly on global warming, has already resulted in what it called “significant victories,” such as ConocoPhillips’s decision last month that it would join the U.S. Climate Action Partnership, and provide $22.5 million in funding for research at Iowa State University on technologies for producing biofuels. Those actions led SIF member Trillium Asset Management to withdraw a resolution asking ConocoPhillips to develop renewable energy alternatives.