The US government just changed the law to try to beat us ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

 
 

A photo of Google and Facebook apps icons on an iPhone screen.

John,

We've been so successful using shareholder action to get companies to change their bad behaviour...that they're trying to shut the whole program down!

Just last year, a SumOfUs shareholder resolution forced Apple to publish its first-ever human rights policy. So now the US stock regulator made a new rule -- anyone who wants to bring this kind of resolution will need to hold thousands of shares...and companies are setting VERY early deadlines to buy them!

They're trying to silence everyone but the richest shareholders. But John, we can beat them at their own game.

We already bought shares in Apple, just in time. And if 5000 people reading this email chip in the cost of a coffee, SumOfUs can buy enough shares in Google and Facebook before looming deadlines to have our say at those AGMs, ratcheting up the pressure on execs over the companies' worst policies.

For the next 24 hours, we will use everything you give to generate matching donations from big funders, doubling your impact -- can you join in to buy a piece of Google and Facebook?

Chip in $1Chip in another amount

Shareholder advocacy used to be straightforward -- a SumOfUs member with stocks would just sign a letter, get a letter from their broker, and our community could file a co-resolution to be debated at Annual General Meetings.

And we had incredible success, not only with Apple's human rights policy. A strong shareholder proposal pushed TD Bank, one of the world's biggest funders of fossil fuels, to commit to net-zero by 2050. Pepsi committed to sustainably sourced palm oil. And more!

But now the US stock authority is rigging the rules to favour big-dollar shareholders, adding time-consuming and arduous rules: increasing the minimum number of shares, increasing how long you have to hold the shares, and requiring that co-filers like SumOfUs provide a list of times they can meet with the corporation to discuss their resolution.

It's a lot to ask. But the good news is it means our strategy is working. And there's a simple solution: bring our community together to buy stocks in some of the biggest corporations to keep achieving real-world change. We started with Apple. Now it's time for Google and Facebook. Can you help hold these corporate giants to account? (Remember, your donation will be used to get matching donations!)

Chip in $1Chip in another amount

Thanks for all that you do,
Danny and the SumOfUs team


More information:

SEC Adopts Amendments to Modernize Shareholder Proposal Rule. US Securities and Exchange Commission. 23 September 2020.

Apple faces shareholder vote on human rights policies. Financial Times. 16 December 2019.

 

 
 

SumOfUs is a worldwide movement of people like you, working together to hold corporations accountable for their actions and forge a new, sustainable path for our global economy.

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