As You Sow
The nation's leading non-profit shareholder advocate, changing corporations for good
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Dear John,

We’re not allowing corporations a free pass, even amid the distress and anxiety that continues to define so much of our day-to-day world. And there’s real progress to report —

2020 Engagements

From our 100+ engagements with 76 companies this proxy season, we thought you’d be particularly interested to know that:
• Majority Votes: We earned four majority votes this season — 55% at Phillips 66 on petrochemical plants in flood zones; and 61% at Fastenal, 66% at O’Reilly Auto Parts, and 79% at Genuine Parts Sustainable Accounting Standards Board (SASB)-based disclosures. A fifth vote nearly earned a majority — 49.6% at JPMorgan, on lending aligned with the Paris goal of limiting warming to 1.5°C. Shareholder votes are not binding on management, but majority votes are a clarion call to action.

• Pesticides: Kellogg’s committed to phase out pre-harvest use of glyphosate, a known carcinogen, in its major wheat and oat supply chains by 2025. This action sets Kellogg’s as an industry leader, putting pressure on peer companies to follow suit.

• Diversity Disclosure: After sending an Investor Statement to 3,000 companies explaining that diversity data disclosure is material, we wrote to 31 companies and followed up with direct engagement and shareholder resolutions at seven. We reached substantive agreements on increased reporting with five and continue to negotiate with the remaining two.

• Stakeholder Capitalism: The Business Roundtable, the World Economic Forum, and major global corporations all adopted As You Sow’s basic philosophical framework: companies exist to serve all stakeholders, including employees, customers, community, supply chain, and shareholders. This shift heralds the emergence of a new regenerative economy based on justice and sustainability.


Major New Report Finds Lack of Corporate Leadership on Plastic Pollution

Waste & Opportunity 2020: Searching for Corporate Leadership ([link removed]), As You Sow’s latest report, analyzes 50 of the largest U.S. companies on 35 key performance indicators on plastics use. The takeaway is that the consumer goods industry is failing to adequately address single-use plastics or take financial responsibility for improving recycling. Fifteen companies earned an “F” and there were no clear leaders, only scattered leadership actions.

The report will serve as the foundation for upcoming corporate engagements and shareholder action to keep the pressure on until we have sustainable packaging solutions that work for companies and the planet.


Andrew Behar on Bloomberg TV

On July 6 the Bloomberg FINTECH.TV show TheIMPACT showcased As You Sow CEO Andrew Behar ([link removed]), interviewed by Jeff Gitterman. Andy talks about the importance of choosing the right investment strategy by ROI and social impact, shares a few tools to help make sure your 401(k) is aligned with your values and lasting legacy, and offers an overview of how As You Sow and shareholder advocacy works. It’s perfect for sharing with friends who are interested in values-aligned investing and in shareholder advocacy but are new to how it works.


Stay safe and well,

Betsy McMahon
Director, Shareholder Relations and Individual Giving


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As You Sow

Address:
2150 Kittredge St
Suite 450
Berkeley, CA 94704

Mailing address:
Main Post Office
PO Box 751
Berkeley, CA 94701

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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