As You Sow Works to Mobilize 100M Shareholders
[Image alt text: As You Sow banner with logo, image of mountains and a lake, and text saying: The nation’s leading non-profit shareholder advocate, with a 30+ year track record of changing corporations for good]Dear John,
As Earth Day approaches, we aim to draw attention to the environment and promote sustainability for all. Every year, people feel empowered and come together to create the change they want to see and a future that reflects their values and vision.
Our collective values connect us to our family, to our communities, and ultimately to one another. It’s audacious to have a vision for a world one cannot materially see, and it takes courage to challenge old ways to create new ones. Thank you for being with us. We look forward to seeing your contribution on this Earth Day.
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Biden Issues Veto to Reject Bill Aimed at Blocking ESG Investing
President Biden issued the first veto of his presidency, preserving a Department of Labor rule that empowers retirement plan fiduciaries to consider material risks when making investment and proxy voting decisions. The veto safeguards fiduciaries’ ability to protect their beneficiaries and basic freedom of choice.
“This veto demonstrates that common sense and free markets are President Biden’s top priority. While some politicians are playing politics with retirees’ hard-earned savings, this administration is protecting Americans' financial security by allowing them to make investment choices without government interference,” said As You Sow’s CEO, Andrew Behar.
The decision to veto the bill is aligned with upholding basic principles of the free market and protecting workers' retirement savings.
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McDonald’s to Publish First-in-Sector Report on Reusable Packaging
In response to As You Sow's shareholder resolution, McDonald’s has pledged to evaluate and report on the pros and cons of switching to reusable packaging. McDonald’s currently complies with French law requiring all on-site dining to use reusable packaging, yet has no current plans to expand the program to the United States.
“We commend McDonald’s for committing to the exploration of a more circular future for quick-service restaurant dining,” said Kelly McBee, Circular Economy Senior Coordinator at As You Sow. “We anticipate the report will demonstrate reusable packaging to be a critical component of sustainable operations and hope this action signals other quick-service restaurants to follow McDonald’s lead.”
Immediate corporate commitments are needed to eliminate plastic use and transition to zero-waste product models.
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Chubb Announces Conservation-Focused Underwriting Standards
Insurance company Chubb recently announced underwriting criteria for methane emissions from oil and gas extraction projects. It also affirmed that it will not underwrite oil and gas extraction projects in areas protected by state, provincial, or national governments and pledged to develop and adopt underwriting standards for areas where sustainable development is allowed.
“We are pleased to see Chubb begin to focus on climate and conservation-focused underwriting standards. However, Chubb does not currently report the greenhouse gas emissions associated with its insuring, underwriting, and investing activities so the company remains largely unaccountable to investors regarding its climate contribution or its reduction of greenhouse gas emissions,” said As You Sow’s President, Danielle Fugere.
Last year, more than 72% of investors supported As You Sow’s shareholder proposal with Chubb asking the company to report how it will begin measuring its insured, underwriting, and invested emissions.We believe a thriving environment and a strong economy can and should go hand in hand. Together, we can build a healthy economy and a vital Earth for everyone.
Thank you for being part of the solution,
Jenna L. Belisle
Director of Individual Giving [Image alt text: Photo of Jenna Belisle] Jenna L. Belisle
Director of Individual Giving
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As You Sow’s 30+ year track record promoting corporate responsibility spans a broad range of the most important environmental and social issues facing corporations, investors, and citizens today, including climate change, ocean plastics, pesticides, racial justice, workplace diversity, and executive compensation. Click here to donate. < [link removed] > < [link removed] > < [link removed] > < [link removed] > < [link removed] >
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[Image alt text: Charity Navigator Four Star emblem and Candid Platinum emblem]DISCLAIMER: As You Sow is not an investment advisor, nor do we provide financial planning, legal or tax advice.The content of our programming, publications and presentations is provided for informational and educational purposes only, and should not be considered as information sufficient upon which to base any decisions on investing, purchases, sales, trades, or any other investment transactions. We do not express an opinion on the future or expected value of any security or other interest and do not explicitly or implicitly recommend or suggest an investment strategy of any kind.
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