Group of investors issues joint statement on shareholder rights
Today a group of institutional investors issues a joint statement that calls for the SEC to continue to be the preferred arbiter of shareholder proposals in the United States. The group consists of 39 investors with a combined assets under management of USD 5.2 trillion.
In the statement, they express concern that shareholder rights may be at risk in light of the litigation undertaken by Exxon Mobil against Follow This and Arjuna Capital and the amicus brief of the U.S. Chamber of Commerce and the Business Roundtable. They are concerned that these actions will deter the filing of proposals concerning the sustainability issues that are material to the performance of their equity and fixed income portfolios.
The full text of the investor statement can be found here. Please get in touch with one of the signatories if you would like to support the statement.
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