Corporate Governance / Board terms and selection
Climate Scientist Joins Exxon Board (02/03)
The oil and gas giant responds to years of shareowner action by appointing atmospheric scientist Susan Avery to its board of directors.
Financial Stability Board to Review Governance Principles (08/16)
The international body, formed to promote financial stability following the global financial crisis, seeks to determine how its member jurisdictions have implemented the G20/OECD Principles of Corporate Governance.
Sustainable Investors Respond to Climate Pact (01/15)
With COP21 Climate Conference in Paris ending with agreement intended to keep global temperature increase below two degrees Celsius, investors envision portfolios focused on renewable energy. First in a three-part series.
Shareowners Target Amazon on Human Rights and Climate (06/12)
Sustainable shareowners submitted four resolutions addressing environmental, social, and corporate governance issues at this week's annual general meeting, as pressure grows for the company to improve its sustainability performance.
ICCR Publishes 2015 Proxy Resolutions and Voting Guide (02/09)
Climate change and wealth inequality lead members of the the Interfaith Center on Corporate Responsibility to increase for the third year in a row the number of shareowner resolutions filed. Second of a two-part series.
New Controls for Old Risks at JPMorgan Chase (01/02)
In response to shareowner pressure, the bank endorses the Shareholder-Director Exchange as a means of improving the quality of engagement between investors and board directors. Second of a two-part series.
Shareowner Rights Under Attack (06/11)
Abetted by comments by an SEC commissioner, the US Chamber of Commerce petitions to keep shareowner resolutions from returning to proxy ballots.
Activist Shareowners Make Their Way to Texas to Confront Chevron (05/31)
Simon Billenness of the Unitarian Universalist Association talks with SocialFunds.com about Chevron's ongoing legal quagmire in Ecuador and his efforts to have the oil and gas company appoint an independent Chair.
Third National Climate Assessment Published (05/06)
In its new report, the US Global Change Research Program asserts that the effects of climate change have already become a present day concern, and announces the launch of a website to help Americans receive reliable scientific information.
Google Facing Several Resolutions on Corporate Governance (04/22)
The tech giant's 2014 proxy statement reads like a compendium of corporate governance issues. Second of a two-part series.
Resolution Calls for Transparency in Lobbying Expenditures by Google (04/21)
Filed by Walden Asset Management and other sustainable investment organizations, the resolution documents a 250% increase in lobbying expenditures by Google in the last five years. Part one of a two-part series.
Investors Protest Corporate Lawsuits Against Shareowners (03/22)
A coalition of investors led by NorthStar Asset Management writes to four companies that have sought to bypass regulatory system by bringing lawsuits against shareowners for resolutions they filed.
Massachusetts Court Upholds Corporate Governance Proposal (03/13)
Denied a no-action letter by the SEC on a shareowner resolution calling for an independent chair, EMC turns to the courts instead and fails.
JPMorgan Agrees to Report on Governance and Risk Management (02/22)
After engagement with the bank, members of the Interfaith Center on Corporate Responsibility withdraw resolutions addressing risk mitigation efforts and separating the positions of Board Chair and CEO.
Shareowners Opt for Engagement to Press Chevron on Corporate Governance (11/19)
Shareowner advocate Simon Billenness updates SocialFunds.com on judgment against Chevron in Ecuador, and explains why engagement with fossil fuel companies is more effective than divestment.
Shareowners Call for Independent Chair at Twenty-First Century Fox (10/21)
A resolution co-filed by Christian Brothers Investment Services and the British Columbia Investment Management Corporation is supported by two-thirds of independent shareowners, but the company's dual-class stock structure insulates Rupert Murdoch from a majority vote.
Record Number of Sustainability Resolutions in 2013 (08/21)
In its overview of the 2013 proxy season, Ceres reports that 40% of all resolutions filed address environmental and social issues, and that 40 of the 110 such resolutions were withdrawn.
Investors Square Off with Chevron CEO at Shareowner Meeting (06/01)
Shareowner advocate Simon Billenness cites the company's $19 billion legal quagmire in Ecuador in requesting a lower threshold for calling special meetings while Atossa Soltani of Amazon Watch is ejected from meeting at request of CEO John Watson.
High Profile Proxy Season Reveals the Plumbing (05/24)
A proxy distribution service abruptly reverses policy and refuses shareowner access to preliminary vote totals at JPMorgan Chase, and Institutional Shareholder Services settles charges that an employee sold voting data.
JPMorgan Shareowners Vote on Corporate Governance and Genocide-Free Investing (05/22)
A resolution calling for the separation of the positions of board chair and CEO gains the votes of one-third of the bank's shareowners, while support for a genocide-free investing proposal increases.
Chevron Continues to Misrepresent Ecuador Judgment, Updated Report Says (05/20)
Attorney Graham Erion updates his 2012 report on misrepresentations made by Chevron to investors regarding the $19 billion judgment against it for environmental destruction in Ecuador.
Shareowners Re-file Governance Resolutions at News Corp (05/15)
Christian Brothers Investment Services and the British Columbia Investment Management Corporation request separation of positions of board chair and CEO, while the Nathan Cummings Foundation calls for elimination of the media company's dual-class share structure.
Shareowners Call for a Vote in Favor of Good Governance at JPMorgan (04/15)
In a letter to the bank's shareowners, the American Federation of State, County & Municipal Employees and its co-filers argue for support for their resolution calling for separation of the positions of Chair and CEO.
Bankrolling the Dismantling of the Volcker Rule (04/05)
Despite a Senate report finding that JPMorgan's London Whale losses would have been prohibited by the Volcker Rule, members of a House Committee take bank contributions and vote to advance a bill that would allow taxpayer bailouts of too big to fail banks.
Shareowners Renew Call for Separation of CEO and Chair at JP Morgan Chase (02/21)
The American Federation of State, County & Municipal Employees and a coalition of institutional co-filers will return to the banking giant's annual general meeting this year with a resolution that gained 40% of shareowner support in 2012.
ICCR Publishes 2013 Proxy Resolutions and Voting Guide (02/07)
The Interfaith Center on Corporate Responsibility reports that its members have filed 180 shareowner resolutions and engaged in 225 corporate dialogues this proxy season.
Shareowner Resolution Challenges Chevron for Attacking Investors (01/12)
The Needmor Fund and Zevin Asset Management file a shareowner resolution requesting that Chevron explain the rationale behind issuing subpoenas to force investors to share confidential communications.
Top Sustainable Investment Stories of 2012, Part 5 (01/05)
In a cautionary tale of poor corporate governance, the year for Chevron began with a court in Ecuador upholding the $18 billion judgment against it for environmental damage, and ended with the company's lawyers serving subpoenas on its own shareowners.
Investors Urge Citigroup Board to Consider Breakup of Too Big to Fail Bank (11/16)
Trillium Asset Management and AFSCME Employees Pension Plan file a shareowner resolution with Citigroup asking its board to explore a separation of one or more of its business units.
Calvert Launches Emerging Markets Fund (11/07)
The Calvert Emerging Markets Equity Fund uses the firm's environmental, social, and corporate governance criteria in determining the components of a portfolio investing in the fastest-growing segment of the global economy.
Independent Shareowners Want Murdoch out as Chairman of News Corp (10/20)
Resolutions calling for separation of Chairperson and CEO, and end to dual-class stock structure, gain support of two-thirds of independent shareowners at media company's annual meeting.
Investors in UK Celebrate National Ethical Investment Week (10/17)
A survey conducted for the occasion reveals that almost half of adults with investments want large pension plans to sign onto the UK Stewardship Code, and research from EIRIS finds $18 billion invested in green and ethical retail funds.
GMI Licenses Research for Corporate Governance Indexes (10/01)
The firm's agreement with the Global Index Group, which will create the first indexes focusing on corporate governance performance, is commended by governance advocate James McRitchie as a very important development for investors.
GMI and Trucost Form Partnership (09/10)
The strategic partnership provides for environmental research by Trucost to be incorporated into GMI's analysis of the corporate governance performance of companies.
Muhammad Yunus, Father of Microcredit and Nobel Peace Prize Recipient, to Address SRI Conference (09/05)
The founder of the Grameen Bank will be the keynote speaker at October's SRI Conference on Sustainable, Responsible, Impact Investing, which will also feature author Deepak Chopra and Robert F. Kennedy Jr. Second of a two-part series.
PRI Signatories Prioritize ESG Issues for Engagement (09/04)
A survey of frequent users of the PRI Clearinghouse indicates that executive compensation, climate change, and labor standards in corporate supply chains will be the top areas of engagement for institutional investors during the coming year.
CalSTRS Engages with Russell 2000 Companies on Majority Voting Standard (08/29)
The pension fund's engagement with 95 companies during 2012 proxy season results in 86% of them either adopting the standard or making significant progress toward doing so.
Emerging Markets ESG Updates Database of Contacts (08/18)
SocialFunds.com talks with Geoffrey Mazullo, whose twenty years of involvement with environmental, social, and corporate governance issues in emerging markets have provided him with a wealth of data and contacts compiled in a unique resource.
Pension Fund Wants Wal-Mart to Come Clean on Bribery Allegations (08/17)
After receiving documents relating to allegations of bribery by the retail giant's Mexican subsidiary, the Indiana Electrical Workers Pension Trust Fund charges in a lawsuit that nearly half of the pages were blacked out.
Church of England Sells its Shares in News Corp. (08/07)
A year of engagement following the phone hacking and bribery scandal has failed to produce a commitment by the media giant to improve its corporate governance, and the Church responds to the lack of progress with divestment.
Proxy Access Still Key to Changing Corporate Behavior (08/03)
SocialFunds.com talks with James McRitchie of CorpGov.net about corporate governance shareowner proposals and the case for improved proxy access for individual investors.
Emphasis on Engagement Seconded by Mainstream (07/28)
A report from Ernst & Young analyzing the 2012 proxy season agrees with observations by sustainable investment organizations that increased shareowner engagement represents the most dramatic development.
Institutional Investors: Part of the Problem or Part of the Solution? (07/24)
Authors Ben Heineman and Stephen Davis argue in a working paper that many institutional investors lag behind corporations in transparency, and call for a national database on the behavior of institutions. Second of a two-part series.
What Good Are Shareowners? (07/23)
An analysis published in the current Harvard Business Review argues that the rise of short-termism in the markets, and poor communications between management and shareowners, require engagement by diverse long-term stakeholders. First of a two-part series.
Voting Rights Curtailed by Dual-Class Structure, News Corp. Shareowners Call for Reforms (07/20)
Eighteen investors representing over $1.6 trillion in assets under management write to Rupert Murdoch, urging him to support a shareowner resolution calling for the separation of the positions of Chair and CEO.
Separating CEO and Chair Provides Financial Benefits (07/02)
A report from GMI Ratings finds that companies with a combined CEO and chair pay far more compensation for the positions, are more likely to pursue aggressive accounting practices, and are twice as likely to receive a failing grade for environmental, social, and corporate governance performance.
Sanders Calls for End of Conflicts of Interest on Federal Reserve Boards (06/14)
After introducing legislation prohibiting bank executives from serving on Federal Reserve boards, Sen. Sanders of Vermont names 18 Fed directors whose firms benefited from the bailout during the financial crisis.
Shareowners Voice Support for Environmental and Governance Resolutions at Chevron (06/01)
A call for the separation of the positions of CEO and Board Chair gains more than 38% of shareowner support, while 27% vote in favor of improved disclosure of risks associated with hydraulic fracturing.
Investors Write to Chevron Again (05/29)
Led by the New York State Common Retirement Fund, a coalition of 40 institutional investors with $580 billion in assets under management calls on Chevron to end its legal wrangling over an $18 billion judgment against it for environmental damage in Ecuador.
Shareowners Ask SEC to Investigate Chevron (05/21)
Three sustainable investment organizations say that the company's management appears to be covering up the risks associated with an $18 billion legal judgment against it for environmental damage in Ecuador. Second of a two-part series.
Is Chevron in Violation of Securities Law? (05/18)
New reports on Chevron's liabilities relating to environmental damages in Ecuador assert that while the company's legal options have narrowed significantly, its public filings repeat the same arguments made in 2008. First of a two-part series.
JP Morgan Chase Holds Annual Meeting Days After $2 Billion Loss (05/17)
A resolution calling for improved corporate governance through separating the roles of Chair and CEO gains 40% of shareowner support.
Shareowners Renew Call for Improved Governance at JPMorgan Chase (05/11)
After the bank reports $2 billion in losses on risky trading, the American Federation of State, County & Municipal Employees calls for the appointment of an independent Chair, stating that the stakes are too high to leave CEO Jamie Dimon unsupervised.
Chesapeake Energy Agrees to Separation of Chair and CEO (05/07)
The controversial oil and gas company agrees to a key corporate governance reform after widespread criticism of an arrangement allowing CEO Aubrey McClendon to borrow more than a billion dollars from its treasury.
SEC Reconvenes Investor Advisory Committee (04/11)
The Committee, which was formed in 2009 and terminated after passage of the Dodd-Frank bill, again includes representatives of the sustainable investment industry.
Shareowner Advocates Disappointed by Goldman's Choice for Lead Independent Director (04/07)
The American Federation of State, County & Municipal Employees withdraws resolution calling for separation of Chair and CEO at Goldman Sachs, then expresses disappointment at the firm's choice for lead independent director.
Shareowner Resolution Calls for Independent Board Chair at News Corporation (04/04)
Christian Brothers Investment Services resubmits proposal introduced at the media giant's annual meeting last October, citing the company's inaction in implementing reforms in the wake of phone hacking scandal.
New York City Pension Funds File Corporate Governance Resolutions at 13 Companies (03/19)
Shareowners request that Chesapeake Energy and Nabors Industries permit proxy access, and additional resolutions address board declassification, an independent board chair, and a majority voting standard.
James Murdoch Steps Down at News International (03/02)
Christian Brothers Investment Services welcomes the move as a small first step, but calls for additional corporate governance reforms at the media giant.
Zevin Asset Management Grows into a Corporate Engagement Powerhouse (02/28)
The Boston-based investment manager, with $335 million in assets under management, has co-filed 14 shareowner resolutions for the 2012 proxy season.
HP Agrees to Proxy Access (02/20)
The computer giant agrees to allow institutional investors meeting ownership thresholds to nominate candidates for its Board of Directors.
CalSTRS to Facebook: More Women on Board (02/08)
The pension fund's Director of Corporate Governance writes to Mark Zuckerberg, expressing disappointment in the lack of diversity on Facebook's board of directors.
ICCR Publishes 2012 Proxy Resolutions and Voting Guide (02/07)
The Guide reveals a focus by members of the Interfaith Center on Corporate Responsibility on social issues and corporate engagement.
Ecuadorian Court Upholds $18 Billion Judgment Against Chevron (01/06)
In addition to upholding the judgment for environmental damages in Ecuador's Amazon rainforest, the court also criticized Chevron's efforts to undermine the trial.
Shareowners Press Chevron to Acknowledge Environmental Liabilities in Ecuador (12/27)
Even as Chevron's liability for a November oil spill in Brazil reaches billions of dollars, the company still refuses to disclose to shareowners the risks associated with an $18 billion court judgment against it in Ecuador. Second of a two-part series.
Two Shareowner Proposals Request Proxy Access (11/23)
The proposals are based on a Model Shareowner Proposal for Proxy Access, developed by the United States Proxy Exchange, which requests shareowner votes under SEC Rule 14a-8.
Support by Mutual Funds for Sustainability Proposals Increases, but is it Happening Quickly Enough? (11/16)
SocialFunds.com talks with Jackie Cook of Fund Votes about the results of voting by mutual funds on shareowner proposals in 2011 relating to sustainability.
Murdoch to Shareowner Activists: the Polls are now Closed (10/25)
Julie Tanner of Christian Brothers Investment Services describes the frustration of advocating for governance reforms at the annual meeting of scandal-plagued News Corp.
News Corp, Nine Other Firms Singled out for Poor Governance (10/14)
GMI Risk List highlights ten companies with poor governance issues and other ESG-related concerns.
Proxy Firm Tells US Investors to Oust News Corp Directors (10/10)
Citing concerns about objectivity and independence, Glass Lewis advises shareowners to vote against six of the media giant's directors.
Despite Court Ruling, Opportunity for Proxy Access Remains (09/23)
SocialFunds.com talks with corporate governance advocate James McRitchie about the challenges and potential benefits provided by SEC Rule 14a-8, which was left standing when Rule 14a-11 was struck down.
Investors Continue to Press SEC on Proxy Access (09/14)
Institutional investors with $2 trillion in assets urge the Securities and Exchange Commission to issue regulations allowing proxy access.
Investors Urge SEC to Pursue Proxy Access (08/25)
The Council of Institutional Investors describes proxy access as its "number one priority" in a letter to the Commission.
Investors Call for Improved Governance at News Corp (08/11)
In the aftermath of phone hacking and bribery scandals at the media company, members of the Interfaith Center on Corporate Responsibility call for separation of Chair and CEO positions and elimination of dual-class stock structure.
TIAA-CREF Publishes 2011 Socially Responsible Investing Annual Report (07/26)
The report describes the accomplishments of the $470 billion financial services company in promoting sustainable investment according to environmental, social, and corporate governance (ESG) criteria.
Court of Appeals Strikes Down SEC Rule on Proxy Access (07/25)
The Court agreed with the Chamber of Commerce in finding that the rule, which would have allowed shareowners to have their nominees for boards of directors included in proxy materials, was "arbitrary and capricious."
Shareowner Action Contributes to Sea Change in Corporate Governance (07/01)
GovernanceMetrics International reviews the results of the 2011 proxy season thus far, and finds that important corporate governance policies are now enshrined at most S&P 500 companies.
Getting on Board with Corporate Social Responsibility (08/25)
Corporate boards can and should influence their companies' social and environmental performances finds a new report.
Responsible Businesses are More Competitive (02/24)
IBM study reports businesses with corporate social responsibility as part of their core plans have an advantage.
SEC Sacrifices Shareholder Rights to Achieve Temporary Certainty (12/11)
Instead of reaffirming shareholder rights to file resolutions to nominate directors, the SEC cites uncertainty as a rationale for stripping these rights.
SEC Chair Cox Votes For Two Opposing Proxy Access Proposals--Both May Curtail Shareowner Rights (08/01)
Republican commissioners support a proposal barring shareowners from nominating directors; Democrats support one allowing it, though it introduced other reductions in shareowner power.
Opening Up Pandora's Box: SEC Proxy Roundtable Questions Role of Non-Binding Resolutions (05/15)
SEC officers and panelists discuss the possibility of removing non-binding resolutions from the proxy and replacing them with online communications between shareowners and companies.
Dear Sir or Madam: Stakeholder Letters Push Corporate Sustainability Improvements (11/16)
Letters remains an important mode for addressing environmental, social, and governance issues, encompassing a broader swath than simply communication between shareowners and companies.
Court Affirms Shareowner Right to File Resolutions on Proxy Access for Nominating Directors (09/14)
The decision, which simply upholds existing rules that SEC practice had departed from, fills the void left when the SEC proposed then abandoned a rule on proxy access for nominating directors.
Barclays Files for Permission to Launch iShares ETF Tracking the Domini Social Index (09/07)
The exchange-traded fund will likely have a low expense ratio, but will not conduct shareowner engagement like the other fund tracking the DSI, the Green Century Equity Fund, does.
Book Review--Shareholder Participation and the Corporation: A Fresh Inter-disciplinary Approach in Happiness (06/27)
Australian Law Professor James McConvill applies empirical research on happiness to corporations, specifically focusing on the case it makes for shareowner empowerment.
Correlating Proxy Advisory Firm Recommendations with Voting Results (06/20)
A look at the link between recommendations by Institutional Shareholder Services, Glass Lewis, and PROXYGovernance and voting results at Citigroup, Chevron, ExxonMobil, and Wal-Mart.
Corporate Shenanigans: Companies Dis Shareowners at Annual Meetings (06/09)
Home Depot exemplifies a phenomenon of companies manipulating annual meeting protocols to disempower shareowners, following in the footsteps of Weyerhaeuser, Whole Foods, and others.
Voting Recommendations on Shareowner Resolutions Vary Widely at Proxy Advisory Firms (04/18)
Part one of this two-part article compares Institutional Shareholder Services, Glass Lewis, and PROXY Governance vote recommendations on resolutions at Citigroup and Chevron.
Resolution Withdrawals Signal Success in Shareowner Advocacy Early in 2006 Proxy Season (03/06)
Part one of this two-part article examines withdrawal of resolutions on climate change, sexual orientation nondiscrimination, political contributions, and HIV/AIDS policies.
The Corporate Library Report on Mutual Fund Proxy Voting Finds Stagnation and Even Retreat (01/17)
Part one of this multi-part series discusses the report findings on decreasing mainstream fund support for CSR resolutions; subsequent articles examine unpublished data from the research.
Majority-Vote Director Election Shareowner Resolutions To Top 100, Dominate Proxy Season (01/10)
A memo from corporate law firm Wachtell, Lipton, Rosen & Katz opines that majority-vote elections will become universal, but shareowners still seek proxy access to nominate directors.
Shareowner Empowerment Is Alive and Well: a Preview of the 2006 Proxy Season (11/16)
Part two of this two-part article examines the developing trends in shareowner activism as resolutions are filed for the upcoming proxy season.
Transforming the Myth of Democratic Shareholder Power into a Reality (10/27)
A new paper by Harvard Professor Lucian Bebchuk debunks the myth of shareholder power to replace directors, and recommends reforms that could jumpstart the stalled SEC proxy access rule.
The Lowdown from Corporate Governance and Proxy Advisory Experts on ISS-IRRC Merger (07/19)
Implications of the buyout of the Investor Responsibility Research Center by Institutional Shareholder Services on social research and competition in proxy advisory services.
The Ghost of a Shareholder Resolution Haunts ExxonMobil Annual Meeting (05/26)
Despite an unprecedented 28 percent vote for a first-year climate change resolution and strong support for seven others, the censoring of a resolution quashes shareholder democracy.
Biting the Hand That Feeds: Mutual Fund Ties to Corporate Clients Can Affect Proxy Voting (03/10)
Study reveals that individual mutual fund firms do not alter proxy voting whether companies are clients or non-clients, but fund firms with more clients tend to vote and adopt voting policies favoring management.
Binding Resolutions and Coordination Circumvent Structural Limitations of Shareowner Action (02/18)
A preview of the 2005 proxy season reveals tactics that challenge the systemic imbalance of power favoring corporate management and directors over shareowners.
Mixed Messages and Flip-Flops as the SEC Director Nomination Rule Stagnates (02/11)
While the SEC retracts its promise to allow shareowners to file director nomination resolutions, lawsuits secure shareowner rights to nominate directors.
Top Five Socially Responsible Investing News Stories of 2004 (01/11)
Shareowner engagement shifted from confrontational to collaborative, sustainability analysis fused with financial analysis, and fiduciary duty expanded to include social and environmental issues.
Book Inspires Symposium on How Governance Codifies Excessive Executive Pay (10/14)
The book is written by Harvard Law Professor Lucian Bebchuk and Berkeley Law Professor Jesse Fried, and the Symposium is hosted by Columbia Law School.
As Mutual Funds Prepare to Reveal Proxy Votes, Guideline Disclosure Acts as Acid Test (08/25)
Investor-friendly website accessibility to mutual funds' proxy voting guidelines may signal proxy voting record accessibility and investor-friendly proxy voting.
Harvard Study Correlates Staggered Boards With Lower Shareowner Value (07/15)
Evidence presented in the study suggests that staggered boards do not simply reflect lower firm value, but rather that they bring about lower firm value.
ExxonMobil Mocks Climate Change, Maine Treasurer Finds It No Laughing Matter (05/27)
Senior management remains resolute in its disbelief of climate change risk.
Companies Ignore Majority Votes on Shareowner Resolutions (05/20)
Some high-profile companies are taking advantage of the non-binding nature of shareowner resolutions.
Avon Shareowners Withdraw Two Resolutions Before Annual Meeting (05/05)
Avon agreed to hold annual board of director elections and to phase out phthalates from its products, prompting shareowners to withdraw their resolutions on these two issues.
Disney Vote and California Bill May Affect SEC Shareowner Director Nomination Rule (03/10)
The significant withhold vote at Disney and a bill being considered by the California State Legislature may have a bearing on the SEC's proposed rule on shareowner director nominations.
Top Five Social Investing News Stories of 2003 (12/19)
The major social investing news stories of the year include SEC reforms, stock exchanges mandating social, environmental, and corporate governance practices, and climate risk assessment defined as a fiduciary duty.
2003 Proxy Season Roundup: Shareowner Action Success Measured On and Off the Record (12/17)
While the 2003 proxy season produced some impressive numbers, shareowner advocates also define success in ways that are not easily quantifiable (Part one of a two-part article.)
Board Pay, Board Say (12/16)
Two new reports assess the past year for directors of corporate boards, examining issues such as director pay, workload, and independence.
Women Sit in Less Than a Seventh of Fortune 500 Board of Director Seats (12/11)
According to a new Catalyst report, women will inhabit less than a quarter of Fortune 500 board director seats by 2023, though regulations and shareowner action may change this.
Watchdog Fund Established to Take a Bite Out of Corporate Governance Malfeasance (12/09)
The new investment vehicle is part mutual fund, part shareowner advocate, and part hedge fund.
SEC Opens Proxy to Shareowner-Nominated Directors, Critics Bemoan Triggers, Thresholds (10/09)
New SEC rules will allow shareowners to use companies' proxies to nominate director candidates, but corporate governance advocates point out potential pitfalls.
ISIS Product Offers Shareowner Action without Portfolio Management (10/01)
Institutional investors can use ISIS's Responsible Engagement Overlay to promote better social and environmental performance at companies through dialogue, proxy voting, shareowner resolution filing, and research.
Identifying the Effects of Interlocking Directorships on Board Independence (09/26)
A new report from The Corporate Library uncovers ways interlocking directorships impede board independence, though shareowner activists could leverage this interlock to push corporate governance reform.
AFL-CIO Advocates Active Ownership as a Way to Enhance Shareowner Value (09/16)
The AFL-CIO coordinates resolution filing, assesses managers' proxy voting records, and identifies worker-friendly investments for union pension funds.
Influential Institutional Investors to Form National Coalition for Corporate Reform (09/10)
The National Coalition for Corporate Reform, championed by state treasurers and pension funds, seeks to restore investor confidence through better corporate governance.
New Proxy Voting Recommendation Service Provides Choice, Objectivity (09/05)
Investor Responsibility Research Center teams with Glass, Lewis & Co. to provide proxy voting recommendations and voting services to institutional investors.
Corporate Governance Ratings Take Different Approaches to Produce Similar Results (08/19)
GovernanceMetrics International rates corporate governance in relation to other companies, while Institutional Shareholder Services rates in relation to market indexes.
Ford's Latest CSR Report Increases Transparency by Using GRI Guidelines (08/12)
Ford's decision to base its 2002 Corporate Citizenship Report on Global Reporting Initiative (GRI) guidelines will help analysts get a fuller picture of the company's performance (part one of a two-part article).
SEC Report on Shareowner Nomination of Directors Opens Some Doors, But May Close Others (07/18)
A recent SEC report recommends several solutions for allowing shareowners access to director nominations, but social investors worry it may not solve some problems.
Johannesburg Securities Exchange Requires Compliance with King II and Global Reporting Initiative (07/16)
Companies listed on the Johannesburg Securities Exchange will soon have to comply with King II corporate governance codes as well as Global Reporting Initiative guidelines.
Apria Democratizes Director Elections (06/24)
Apria Healthcare Group set a precedent as the first company to allow shareowners to nominate candidates for board of director elections.
IRRC Platform Combines Corporate Governance and Social Responsibility Research (06/12)
The Investor Responsibility Research Center merges its corporate governance research tool with its social responsibility research tool in a web-based platform.
Shareowner Advocates Tell SEC How Best to Democratize Board Election Process (06/11)
The question is not whether shareowners should have access to the proxy to nominate directors, but what percentage of stock ownership qualifies shareowners to make nominations.
Increasing Shareowner Action Fuels Record Proxy Season (05/20)
Shareowners are increasingly recognizing and practicing their right to influence corporate practices and policies by filing and voting on shareowner resolutions.
Report Asks When ExxonMobil Will Wake Up to Climate-Related Risks (05/15)
For the second year in a row, a report tells ExxonMobil shareowners to beware of the significant risks the company faces in terms of how the oil giant addresses climate change.
Shareowners Press Avon to Walk the Walk (05/08)
Shareowners vote overwhelmingly for board independence at Avon while questions about potential carcinogens in its products linger.
The Key to Director Independence: Equal Access to Corporate Board Elections (04/01)
A growing number of investors are demanding that shareowners be given the right to nominate candidates for board of director elections.
CalPERS Says Xerox's Corporate Governance Not Worthy of Copying (03/27)
Pension fund giant names six companies that need to improve their corporate governance.
Watching the Public Company Accounting Watchdog (03/21)
The Public Company Accounting Oversight Board Association is slowly getting to work and it will be scrutinized by the newly-formed Association for Integrity in Accounting.
ExxonMobil Receives 23 Shareowner Resolutions on Issues Ranging from Climate Change to Corporate Governance (02/26)
Concerted shareowner action this proxy season targets ExxonMobil over such issues as its refusal to address climate change and its coupling of CEO and Chairman of the Board.
SRI Issues Will Impact Companies' Financial Performance, UK Pension Fund Trustees Say (02/25)
A recent survey finds that pension fund trustees in the United Kingdom view socially responsible investing (SRI) issues as linked to companies' future financial performance.
Fannie Mae Receives High S&P Corporate Governance Rating (02/14)
Fannie Mae becomes the first U.S. company to release its corporate governance score (a 9 out of 10) from Standard & Poor's Governance Services.
SEC Tells Mutual Funds To Disclose Their Proxy Votes (01/24)
The Securities and Exchange Commission voted in favor of rule changes that require mutual fund companies to disclose their proxy voting policies and their actual proxy votes.
ICCR Proxy Resolutions Book Gauges Shareowner Action Climate (01/22)
In its new publication, the Interfaith Center on Corporate Responsibility rounds up the social and environmental shareowner resolutions to be voted on in the 2003 proxy season.
Top Five Social Investing News Stories of 2002 (01/14)
The major social investing news stories of the year include significant corporate governance reforms and the success of community investment.
Social Investment Forum Outlines "Next Wave" of Corporate Governance Reforms (12/20)
Additional reforms besides those already on the table will be necessary to create meaningful corporate governance reforms, according to the U.S. Social Investment Forum.
Companies Face Corporate Governance Hurdles (11/21)
Most public companies will need to restructure their corporate governance policies and practices to comply with new listing standards at NYSE and NASDAQ.
Corporate Governance Now Rated by Mainstream Investment Research Firms (10/25)
Mainstream investment research firms are now evaluating corporate governance as a potential indicator of stock valuation.
Board of Directors Survey Reveals Progress and Gaps in Corporate Governance (10/18)
A recent survey of board directors at Fortune 1000 companies found improvement in some areas, but also identified areas in need of improvement.
IRRC to Release Corporate Governance Rating Tool (10/03)
The Investor Responsibility Research Center will launch a new scoring system for evaluating and benchmarking corporate governance performance.
The Strengths and Inadequacies of the Sarbanes-Oxley Act (09/27)
Social and mainstream investors alike applaud the positive reforms instituted by the Sarbanes-Oxley Act, but also point to additional reforms needed to clean up the markets.
SRI Mutual Funds Continue and Enhance Corporate Governance Screening (08/29)
While the SRI industry has long screened for corporate governance criteria, the recent accounting scandals have prompted the development of more comprehensive corporate governance screens.
Conference to Consider the Business Case for SRI (07/29)
Institutional investors will discuss SRI at the Green Mountain SRI Summit, to be held in Stowe, Vermont in September.
New York Stock Exchange Calls for Tighter Corporate Governance Standards (06/12)
At the SEC's request, the New York Stock Exchange drafted recommendations to fortify corporate governance standards and restore investor confidence.
EMC Shareowners Vote for a More Independent and Diverse Board (05/15)
At the recent EMC annual meeting, a board independence resolution received majority support, while a board diversity resolution easily surpassed the SEC threshold for resubmission.
EMC Maintains Firewall on Its Board Diversity Efforts (01/23)
The computer hard drive giant continues to resist sharing its board diversity initiatives with investors, and now is petitioning the SEC to omit socially responsible shareowner resolutions from its proxy.
Study Correlates Shareowner Rights with Strong Stock Price Performance (12/07)
Through the 1990s, stock in firms that preserved shareowner rights outperformed companies that bolstered management's power, according to an academic paper.
Book Review: The New Global Investors (07/25)
Robert Monks calls on institutional investors to exercise their rights as shareowners and hold senior managers accountable for company performance and practices.
Better Corporate Governance Pays Off for Large Companies in Emerging Markets (06/04)
Recent study across global emerging markets finds large companies with good corporate governance yield better bottom lines.
ExxonMobil Feeling Heat on Both Sides of the Atlantic (05/17)
Shareholder resolutions and boycotts put pressure on oil giant to change its stance on global warming and embrace clean energy.
Getting Boards to Address the Triple Bottom Line (05/15)
New report proposes a set of principles and actions to assist corporate boards in addressing the triple bottom line of economic, social and environmental performance.
Fortune Names Worst Corporate Boards (05/03)
Excessive CEO and board member pay a recurring point in the annual roster of America's worst corporate boards.
Shopping for Responsibility (04/02)
Internet site is helping consumers base shopping decisions on values.