Dear Friend, As a green economy organization, our first action alert of 2020 addresses the need to maintain every tool we have to hold corporations accountable for their actions affecting people and the planet. One of the most important tools – shareholder resolutions – are now under attack. Established back in 1934, the shareholder proposal rule has been used effectively for decades by socially and environmentally responsible investors to promote corporate transparency, greater accountability, and improved corporate practices. The rule enables investors to put resolutions on the annual proxy ballot for consideration by all of a company’s investors. Even small investors, with just $2,000 of shares held for a year, can file a shareholder resolution on an issue of concern. Shareholder resolutions are highly effective and corporations often make significant changes to the way they do business as a result. Shareholder resolutions address crucial issues facing our society and world such as the climate crisis, human rights, labor rights, excessive executive compensation, pay disparities based on gender and minority status, and corporate spending on lobbying and elections – to name just a few. Not surprisingly, many corporations would like to weaken a tool that protects people and the planet. Irresponsibly, the Securities & Exchange Commission (SEC) is siding with Corporate America. The SEC is proposing to weaken the shareholder resolution process and thereby give more power to corporations. For example, for shares held for a year, rather than requiring $2,000 worth of stock in order to file a resolution, the SEC wants to increase the amount of stock owned to a whopping $25,000! Join us in telling the SEC that its job is to protect even small investors and that the current shareholder proposal rule is not broken and should not be weakened. Thank you for taking action before January 28th to urge the SEC to uphold the shareholder resolution process that gives investors an important voice, helps improve corporate conduct, and supports an economy that addresses important social and environmental impacts. For people and the planet, |