Skip to Con-tent

Getting to Net Zero

Strengthening our commitment to address the climate crisis, Boston Trust Walden joined the Net Zero Asset Managers (NZAM) initiative last year, which galvanizes asset management firms to use their access and influence in the capital markets to bring the world closer to achieving the goals of the Paris Agreement. These asset managers are required to set targets to meet their commitment for a percentage of assets under management (AUM).

In June 2022, we formally announced our own targets, which cover the discretionary equity assets we manage and represent approximately 80% ($11.8 billion) of firm-wide AUM.2AUM as of December 31, 2021 Our targets focus on two key areas: moving the companies we invest in to set science-based emission reduction targets and reducing carbon intensity across our strategies. Notably, our targets include Small and SMID cap equity holdings, which comprise a significant portion of our firm’s AUM. Though smaller companies may need greater support and time to build capacity, we believe all companies have a role to play in addressing direct and systemic climate risk. Furthermore, our multi-faceted active ownership strategy uniquely positions us to take on this challenge.

Weighing In with the SEC on Climate Disclosure

The decisions companies make today to address the climate crisis will have long-term impacts on the health of not only the planet and its people but also the economy. Investors require new levels of disclosure to understand if and how companies are evaluating, preparing for, and managing the transition to a lower carbon economy.

In response to rising investor demand, the Securities and Exchange Commission (SEC) released a proposed rule in early 2022 requiring companies to disclose complete, consistent, comparable, and decision-useful climate risk information in their annual financial statements. Boston Trust Walden took this critical opportunity to issue a public comment letter communicating our support for the proposed rule, describing the value of increased access to rigorous, standardized, and high quality corporate climate disclosures, and offering suggestions for where the rule could be strengthened to better meet investor needs.

The 2022 Proxy Season (Year Ended June 30)

Each year at company annual meetings, shareholder proposals enable proponents to harness the collective voice and vote of supportive stockholders to improve company policies, practices, and performance. In November 2021, the SEC issued new guidance restoring shareholder rights related to the filing of shareholder proposals and signaling intention to omit fewer ESG proposals from the proxy ballot. This guidance set the stage for the 2022 proxy season, and — according to preliminary data from proxy advisor Institutional Shareholder Services (ISS) — delivered on its promise.

According to ISS, among the more than 650 proposals filed this proxy season were a record breaking 531 environmental and social-related proposals, surpassing last year’s historic 416. Notably, the SEC approved the omission of just 9% of proposals from proxy ballots, a substantial decrease from the 17% omitted in 2021.4Marshall, Georgina, Michael Fassil, and Kathy Belyeu. “How is Activism Driving the Agenda: U.S. Shareholder Proposals of 2022.” ISS Governance Week, Boston, Massachusetts. June 6, 2022.

Tying the record previously set in 2021, 34 resolutions to date have received majority shareholder support. The top issues garnering majority votes — climate change/environment, equality/human rights, and public policy influence — tell a story. As the country continues to navigate challenges posed by a changing climate, systemic racial injustice, and political gridlock, these ballot results make clear that investors increasingly recognize the connection between ESG issues and long-term economic and societal prosperity.

Boston Trust Walden Shareholder Resolutions

Shareholder resolutions are a critical lever of our active ownership strategy — one we employ when engagement via dialogue is unproductive. During the 2022 proxy season, Boston Trust Walden led or participated in 15 shareholder resolutions.

While a resolution is a valuable tool, it is not by itself indicative of progress until it yields measurable improvement in ESG policies, practices, or performance. Moreover, our most successful shareholder resolutions may never make it to the printed proxy statement, but instead are withdrawn upon the achievement of meaningful agreements with the engaged companies.

In 2022, more than 70% of the resolutions we filed were withdrawn based on negotiated corporate commitments. Of the three resolutions that went to vote, we received an average of 28% shareholder support.9Resolutions filed with Alphabet, Walt Disney, and UPS. As of June 30, 2022, Boston Trust Walden had one outstanding proposal with CorVel to be voted on at the company’s August 6th AGM. However, given that two of the three companies (Alphabet and UPS) have stock with unequal voting rights, voting support is likely understated.

Our Shareholder Resolutions and Results

YearCompany NameProposal TopicBoston Trust Walden's RoleOutcomeFocus Area
2018AlphabetReport on policies and procedures relating to direct and indirect lobbying, including payments used to trade associations and think tanks to influence public policyLead Filed9% supportGovernance
2018American ExpressReport on policies and goals to reduce the gender pay gapCo-FiledAgreement reachedEquality and Human Rights
2018Anika TherapeuticsReport on steps the company is taking to improve board diversityLead FiledAgreement reachedEquality and Human Rights
2018AT&TReport on policies and procedures relating to direct and indirect lobbying, including payments used to trade associations and think tanks to influence public policyLead Filed34% supportGovernance
2018Brinker InternationalIssue a report describing the company’s policies, performance, and improvement targets related to key ESG risks and opportunitiesLead FiledAgreement reachedGovernance
2018CatoAmend non-discrimination policy to include sexual orientation and gender identityLead FiledChallenged/Lost at SECEquality and Human Rights
2018ChemedAmend non-discrimination policy to include sexual orientation and gender identityLead FiledAgreement reachedEquality and Human Rights
2018ChevronReport on policies and procedures relating to direct and indirect lobbying, including payments used to trade associations and think tanks to influence public policyCo-Filed32% supportGovernance
2018Cohen & SteersReview and report on proxy voting policies and practicesLead FiledAgreement reachedGovernance
2018ComcastAssess feasibility of setting company-wide goals for increasing energy efficiency and use of renewable energyLead FiledChallenged/WithdrawnEnvironment/Climate Change
2018ConocoPhillipsReport on policies and procedures relating to direct and indirect lobbying, including payments used to trade associations and think tanks to influence public policyLead FiledAgreement reachedGovernance
2018CorVelAmend non-discrimination policy to include sexual orientation and gender identityLead FiledChallenged/WithdrawnEquality and Human Rights
2018Discover FinancialReport a comprehensive breakdown of workforce by race and gender according to the Equal Employment Opportunity Commission’s defined job categoriesLead FiledAgreement reachedEquality and Human Rights
2018Dollar GeneralReport a comprehensive breakdown of workforce by race and gender according to the Equal Employment Opportunity Commission’s defined job categoriesLead FiledAgreement reachedEquality and Human Rights
2018Emerson ElectricAdopt time-bound, quantitative, company-wide goals for reducing total greenhouse gas emissionsLead Filed40% supportEnvironment/Climate Change
2018The Ensign GroupAmend non-discrimination policy to include sexual orientation and gender identityLead FiledAgreement reachedEquality and Human Rights
2018Express ScriptsAdopt policy that require the Chair of the Board to be an independent member of the boardCo-FiledChallenged/WitahdrawnGovernance
2018ExxonMobilReport on policies and procedures relating to direct and indirect lobbying, including payments used to trade associations and think tanks to influence public policyCo-Filed26% supportGovernance
2018ExxonMobilAssess impacts to business from transitioning to a “2 degree” climate change targetCo-FiledAgreement reachedEnvironment/Climate Change
2018IBMReport on policies and procedures relating to direct and indirect lobbying, including payments used to trade associations and think tanks to influence public policyLead Filed33% supportGovernance
2018IPG PhotonicsAmend non-discrimination policy to include sexual orientation and gender identityLead FiledAgreement reachedEquality and Human Rights
2018Johnson & JohnsonAdopt policy that require the Chair of the Board to be an independent member of the boardCo-FiledAgreement reachedGovernance
2018MorningstarReport a comprehensive breakdown of workforce by race and gender according to the Equal Employment Opportunity Commission’s defined job categoriesLead FiledAgreement reachedEquality and Human Rights
2018Natural Gas ServicesIssue a report describing the company’s policies, performance, and improvement targets related to key ESG risks and opportunitiesLead FiledAgreement reachedGovernance
2018OracleReport on policies and procedures relating to direct and indirect lobbying, including payments used to trade associations and think tanks to influence public policyCo-Filed28% supportGovernance
2018SunTrust BankReport a comprehensive breakdown of workforce by race and gender according to the Equal Employment Opportunity Commission’s defined job categoriesLead FiledAgreement reachedEquality and Human Rights
2018T. Rowe PriceReview and report on proxy voting policies and practicesCo-FiledChallenged/WithdrawnGovernance
2018Tootsie RollIssue a report describing the company’s policies, performance, and improvement targets related to key ESG risks and opportunitiesLead Filed3% supportGovernance
2018UPSReport on policies and procedures relating to direct and indirect lobbying, including payments used to trade associations and think tanks to influence public policyLead Filed20% supportGovernance
2018Wells FargoReport on plans to address business ethics concernsCo-FiledAgreement reachedGovernance
2018Williams-SonomaReport on efforts to ensure responsible labor recruitment within the supply chainCo-FiledAgreement reachedEquality and Human Rights
2017AlphabetImprove disclosure of lobbying and trade association membershipsLead Filed13% supportGovernance
2017American ExpressAddress wage gap between male and female employeesCo-Filed12% supportEquality and Human Rights
2017AmgenAmend vote counting procedures for shareholder proposalsCo-Filed6% supportGovernance
2017AT&TImprove disclosure of lobbying and trade association membershipsLead Filed35% supportGovernance
2017Brown & BrownAdopt inclusive non-discrimination policyLead FiledWithdrawn with agreementEquality and Human Rights
2017CATOAdopt inclusive non-discrimination policyLead FiledSEC omittedEquality and Human Rights
2017ComcastImprove disclosure of lobbying and trade association membershipsCo-Filed17% supportGovernance
2017ConocoPhilipsImprove disclosure of lobbying and trade association membershipsLead Filed24% supportGovernance
2017Costco WholesaleReport on efforts to reduce and manage food wasteCo-FiledWithdrawn with agreementEnvironment/Climate Change
2017Emerson ElectricAdopt quantitative, science-based goals to reduce greenhouse gas emissionsLead Filed34% supportEnvironment/Climate Change
2017Express ScriptsAdopt policy requiring an independent board chairCo-Filed47% supportGovernance
2017ExxonMobilImprove disclosure of lobbying and trade association membershipsCo-Filed28% supportGovernance
2017Hub GroupTake steps to improve board diversityLead FiledWithdrawn with agreementEquality and Human Rights
2017IBMImprove disclosure of lobbying and trade association membershipsLead Filed27% supportGovernance
2017Johnson & JohnsonAdopt policies for safe disposal of prescription drugs and drug take-back programsCo-FiledSEC omittedHealth
2017JP MorganProxy voting policies on Environmental and Social resolutionsLead FiledWithdrawn with agreementGovernance
2017NETGEARAdopt inclusive non-discrimination policyLead FiledWithdrawn with agreementEquality and Human Rights
2017NordsonIssue comprehensive Sustainability ReportLead FiledWithdrawn with agreementGovernance
2017Oceaneering InternationalIssue comprehensive Sustainability ReportLead FiledWithdrawn with agreementGovernance
2017Omnicom GroupDisclose workforce diversity dataLead FiledWithdrawn with agreementEquality and Human Rights
2017T. Rowe PriceProxy voting policies on Environmental and Social ResolutionsCo-Filed9% supportGovernance
2017United Parcel ServicesImprove disclosure of lobbying and trade association membershipsLead Filed20% supportGovernance
2017VanguardProxy voting policies on Environmental and Social resolutionsLead FiledWithdrawn with agreementGovernance
2017Wells FargoReport on improvements in risk management and controlsCo-Filed22% supportGovernance
2016Abbott LaboratoriesAdopt policy requiring independent board chairLead FiledWithdrawn with agreementGovernance
2016AlphabetImprove disclosure of lobbying and trade association membershipsLead Filed12% supportGovernance
2016American ExpressImprove disclosure of lobbying and trade association membershipsLead FiledWithdrawn with agreementGovernance
2016AmgenAmend vote counting procedures for shareholder proposalsCo-Filed7% supportGovernance
2016AT&TImprove disclosure of lobbying and trade association membershipsLead Filed34% supportGovernance
2016Cabot Oil & GasTake steps to improve board diversityCo-FiledWithdrawn with agreementEquality and Human Rights
2016CLARCORIssue comprehensive sustainability reportLead Filed61% supportGovernance
2016ConocoPhillipsIssue Carbon Asset Risk disclosureLead FiledWithdrawn with agreementEnvironment/Climate Change
2016Conoco PhillipsImprove disclosure of lobbying and trade association membershipsLead Filed25% supportGovernance
2016Discovery CommunicationsTake steps to increase board diversityCo-Filed18% supportEquality and Human Rights
2016Emerson ElectricAdopt quantitative, science-based goals to reduce greenhouse gas emissionsLead Filed37% supportEnvironment/Climate Change
2016ESCO TechnologiesIssue comprehensive sustainability reportLead Filed44% supportGovernance
2016Express ScriptsAdopt policy requiring an independent board chairCo-Filed46% supportGovernance
2016Exxon MobilImprove disclosure of lobbying and trade association membershipsCo-Filed26% supportGovernance
2016Flower FoodsAddress water-related risks in direct operations and agriculture supply chainsLead FiledWithdrawn with agreementEnvironment/Climate Change
2016HubbellAdopt Energy Efficiency goalsLead FiledWithdrawn with agreementEnvironment/Climate Change
2016IBMImprove disclosure of lobbying and trade association membershipsLead Filed25% supportGovernance
2016Johnson & JohnsonEstablish policies for safe disposal of prescription drugs and drug take-back programsCo-Filed7% supportHealth
2016OmnicomDisclose workforce diversity dataCo-Filed29% supportEquality and Human Rights
2016PPG IndustriesIncorporate ESG metrics into performance assessments of senior management – with a focus specifically on the use of lead in some productsCo-FiledWithdrawn with agreementGovernance
2016T. Rowe PriceProxy voting policies on Environmental and Social resolutionsCo-Filed9% supportGovernance
2016Time Warner CableImprove disclosure of lobbying and trade association membershipsLead FiledWithdrawn due to mergerGovernance
2016United Parcel ServiceImprove disclosure of lobbying and trade association membershipsLead Filed23% supportGovernance
2016Walt DisneyImprove disclosure of lobbying and trade association membershipsCo-Filed32% supportGovernance
2015American ExpressImprove disclosure of lobbying and trade association membershipsCo-Lead Filed22% supportGovernance
2015AmgenAmend vote counting procedures for shareholder proposalsCo-Filed6% supportGovernance
2015AT&TReport on political spending policies, processes and oversightCo-Filed26% supportGovernance
2015BB&TIssue comprehensive sustainability reportLead FiledWithdrawn with agreementGovernance
2015C.R. BardIssue comprehensive sustainability reportLead Filed35% supportGovernance
2015ChevronAdopt quantitative goals to reduce greenhouse gas emissionsCo-Filed9% supportEnvironment/Climate Change
2015CLARCORIssue comprehensive sustainability reportLead Filed45% supportGovernance
2015Cohen & SteersTake steps to increase board diversityLead FiledWithdrawn with agreementEquality and Human Rights
2015Commercial MetalsIssue comprehensive sustainability reportLead Filed46% supportGovernance
2015ConocoPhillipsImprove disclosure of lobbying and trade association membershipsLead Filed27% supportGovernance
2015CostcoAdopt science-based greenhouse gas reduction targetsCo-Lead FiledWithdrawn with agreementEnvironment/Climate Change
2015Cullen/Frost BankersAmend EEO policies to include sexual orientation and gender identityLead FiledWithdrawn with agreementEquality and Human Rights
2015Emerson ElectricIssue comprehensive sustainability reportLead Filed39% supportGovernance
2015ESCO TechnologiesIssue comprehensive sustainability reportLead Filed28% supportGovernance
2015Expeditors InternationalAmend EEO policies to include gender identityCo-FiledWithdrawn with agreementEquality and Human Rights
2015Express ScriptsImprove disclosure of lobbying and trade association membershipsLead FiledWithdrawn on a technicalityGovernance
2015Exxon MobilAdopt quantitative goals to reduce greenhouse gas emissionsCo-Filed9% supportEnvironment/Climate Change
2015First NBC Bank Holding Co.Amend EEO policies to include sexual orientation and gender identityLead FiledWithdrawn with agreementEquality and Human Rights
2015GoogleImprove disclosure of lobbying and trade association membershipsLead Filed10% supportGovernance
2015IBMImprove disclosure of lobbying and trade association membershipsLead Filed22% supportGovernance
2015IDEXAmend EEO policies to include sexual orientation and gender identityCo-Lead FiledWithdrawn with agreementEquality and Human Rights
2015International Flavors and FragrancesAdopt sustainable palm oil sourcing policies and practicesCo-Lead FiledWithdrawn with agreementEnvironment/Climate Change
2015JP Morgan ChaseImprove disclosure of lobbying and trade association membershipsCo-Filed7% supportGovernance
2015Omnicom GroupPublic disclosure of equal employment opportunityCo-Filed28% supportEquality and Human Rights
2015OracleAmend vote counting procedures for shareholder proposalsCo-Filed10% supportGovernance
2015Phillips 66Adopt quantitative goals to reduce greenhouse gas emissionsCo-Filed28% supportEnvironment/Climate Change
2015QualcommAdopt science-based greenhouse gas reduction targetsLead FiledWithdrawn with agreementEnvironment/Climate Change
2015RPC, Inc.Issue comprehensive sustainability reportLead Filed7% supportGovernance
2015Silgan HoldingsTake steps to increase board diversityLead FiledWithdrawn on a technicalityEquality and Human Rights
2015SyntelAmend EEO policies to include sexual orientation and gender identityLead FiledWithdrawn with agreementEquality and Human Rights
2015SyscoAdopt sustainable palm oil sourcing policies and practicesCo-FiledWithdrawn with agreementEnvironment/Climate Change
2015Time Warner CableImprove disclosure of lobbying and trade association membershipsLead Filed28% supportGovernance
2015United Parcel ServicesImprove disclosure of lobbying and trade association membershipsLead Filed16% supportGovernance
2014AccentureImprove disclosure of lobbying and trade association membershipsLead FiledWithdrawn with agreementGovernance
2014Advanced Auto PartsAdopt science-based greenhouse gas reduction targetsLead FiledWithdrawn with agreementEnvironment/Climate Change
2014C.R. BardIssue comprehensive sustainability reportLead Filed38% supportGovernance
2014Cabot Oil & GasAdopt science-based greenhouse gas reduction targetsLead FiledWithdrawn with agreementEnvironment/Climate Change
2014Cincinnati FinancialIssue comprehensive sustainability reportCo-FiledWithdrawn with agreementGovernance
2014CLARCORIssue comprehensive sustainability reportLead Filed40% supportGovernance
2014ConocoPhillipsImprove disclosure of lobbying and trade association membershipsLead Filed25% supportGovernance
2014Denbury ResourcesAdopt science-based greenhouse gas reduction targetsLead FiledWithdrawn with agreementEnvironment/Climate Change
2014Emerson ElectricIssue comprehensive sustainability reportLead Filed38% supportGovernance
2014EnergenReduce fugitive methane emissionsCo-Filed27% supportEnvironment/Climate Change
2014ESCO TechnologiesIssue comprehensive sustainability reportLead Filed24% supportGovernance
2014General MillsEncourage the use of recyclable materials in produce packagingCo-Filed6% supportEnvironment/Climate Change
2014GentexIssue comprehensive sustainability reportCo-Lead FiledWithdrawn with agreementGovernance
2014GoogleImprove disclosure of lobbying and trade association membershipsLead Filed9% supportGovernance
2014IBMImprove disclosure of lobbying and trade association membershipsCo-Filed24% supportGovernance
2014JP Morgan ChaseImprove disclosure of lobbying and trade association membershipsCo-Filed8% supportGovernance
2014Lincoln Electric HoldingsAdopt science-based greenhouse gas reduction targetsLead FiledWithdrawn with agreementEnvironment/Climate Change
2014Mettler-ToledoAdopt science-based greenhouse gas reduction targetsLead FiledWithdrawn with agreementEnvironment/Climate Change
2014O’Reilly AutomotiveAmend EEO policies to include sexual orientation and gender identityLead FiledWithdrawn with agreementEquality and Human Rights
2014PNC Financial ServicesAssess GHG emissions in lending portfolio and exposure to climate change riskCo-Filed23% supportEnvironment/Climate Change
2014Procter & GambleEncourage the use of recyclable materials in produce packagingCo-Filed25% supportEnvironment/Climate Change
2014Ross StoresAmend EEO policies to include sexual orientation and gender identityCo-Lead FiledWithdrawn with agreementEquality and Human Rights
2014RPC, Inc.Issue comprehensive sustainability reportLead Filed9% supportGovernance
2014Simpson ManufacturingIssue comprehensive sustainability reportLead FiledWithdrawn with agreementGovernance
2014Time Warner CableImprove disclosure of lobbying and trade association membershipsLead Filed33% supportGovernance
2014UPSImprove disclosure of lobbying and trade association membershipsLead Filed17% supportGovernance
2014Wolverine WorldwideIssue comprehensive sustainability report including supply chain disclosureLead FiledWithdrawn with agreementGovernance
20133MImprove disclosure of lobbying and trade association membershipsLead FiledWithdrawn with agreementGovernance
2013AccentureImprove disclosure of lobbying and trade association membershipsLead Filed31% supportGovernance
2013CoherentIssue sustainability reportLead FiledWithdrawn with agreementGovernance
2013ConocoPhillipsImprove disclosure of lobbying and trade association membershipsLead Filed26% supportGovernance
2013C. R. BardIssue comprehensive sustainability reportLead Filed35% supportGovernance
2013Devon EnergyImprove disclosure of lobbying and trade association membershipsLead Filed23% supportGovernance
2013East West BancorpAmend EEO policies to include sexual orientation and gender identityLead FiledWithdrawn with agreementEquality and Human Rights
2013Emerson ElectricIssue comprehensive sustainability reportLead Filed 38% supportGovernance
2013Exxon MobilAdopt quantitative goals to reduce greenhouse gas emissionsCo-Filed27% supportEnvironment/Climate Change
2013GentexIssue comprehensive sustainability reportLead Filed36% supportGovernance
2013IBMReview trade association memberships and political spending policiesCo-Filed24.5% supportGovernance
2013j2 GlobalAmend EEO policies to include sexual orientation and gender identityLead FiledWithdrawn with agreementEquality and Human Rights
2013JP Morgan ChaseImprove disclosure of lobbying and trade association membershipsCo-Filed11% supportGovernance
2013Men’s WearhouseIssue sustainability reportCo-Filed34% supportGovernance
2013NetAppTake steps to increase board diversityLead FiledWithdrawn with agreementEquality and Human Rights
2013NikeIncrease transparency by encouraging suppliers to issue sustainability reportsCo-FiledWithdrawn with agreementGovernance
2013PepsiCoReview trade association memberships and political spending policiesCo-FiledWithdrawn with agreementGovernance
2013PNC FinancialAssess GHG emissions in lending portfolio and exposure to climate change riskCo-Filed23% supportEnvironment/Climate Change
2013Simpson ManufacturingIssue sustainability reportLead Filed33% supportGovernance
2013StrykerAdopt comprehensive GHG emissions management planLead FiledWithdrawn with agreementEnvironment/Climate Change
2013Time Warner CableImprove disclosure of lobbying and trade association membershipsLead Filed15% supportGovernance
2013UPSImprove disclosure of lobbying and trade association membershipsLead Filed12% supportGovernance
2013Westinghouse Air BrakeIssue sustainability reportLead FiledWithdrawn with agreementGovernance
20123MImprove disclosure of lobbying and trade association membershipsLead Filed39% supportGovernance
2012AccentureReview trade association memberships and political spending policiesLead FiledWithdrawn with agreementGovernance
2012Cisco SystemsIncrease transparency by encouraging suppliers to issue sustainability reportsCo-FiledGovernance
2012ConocoPhillipsImprove disclosure of lobbying and trade association membershipsLead Filed25% supportGovernance
2012C. R. BardIssue comprehensive sustainability reportLead Filed30% supportGovernance
2012Deere & Co.Report on political spending policies, processes and oversightLead FiledChallenged & withdrawnGovernance
2012Devon EnergyImprove disclosure of lobbying and trade association membershipsLead Filed31% supportGovernance
2012Emerson ElectricIssue comprehensive sustainability reportLead Filed35% supportGovernance
2012Exxon MobilAdopt quantitative goals to reduce greenhouse gas emissionsCo-Filed27% supportEnvironment/Climate Change
2012GentexIssue comprehensive sustainability reportLead Filed32% supportGovernance
2012IBMReview trade association memberships and political spending policiesLead Filed10% supportGovernance
2012JP Morgan ChaseImprove disclosure of lobbying and trade association membershipsLead FiledSEC omittedGovernance
2012JP Morgan ChaseImprove loan modification policies and oversightCo-FiledWithdrawnGovernance
2012Johnson & JohnsonImprove disclosure of lobbying and trade association membershipsLead FiledWithdrawn with agreementGovernance
2012LKQ Corp.Amend EEO policies to include sexual orientation and gender identityLead FiledWithdrawn with agreementEquality and Human Rights
2012Meridian BioscienceAmend EEO policies to include sexual orientation and gender identityLead FiledWithdrawn with agreementEquality and Human Rights
2012OracleIncrease transparency by encouraging suppliers to issue sustainability reportsCo-FiledGovernance
2012PepsiCoReview trade association memberships and political spending policiesLead FiledWithdrawnGovernance
2012QualcommEvaluate and report on water risk in supply chainLead FiledWithdrawn with agreementEnvironment/Climate Change
2012State StreetReport on political spending policies, processes and oversightCo-FiledWithdrawn with agreementGovernance
2012SyscoEvaluate and report on water risk in supply chainCo-Lead FiledWithdrawn with agreementEnvironment/Climate Change
2012TargetImprove disclosure of lobbying and trade association membershipsCo-Lead FiledWithdrawn with agreementGovernance
2012UPSImprove disclosure of lobbying and trade association membershipsLead Filed17% supportGovernance
20113MReport on political spending and trade association membershipsCo-Lead Filed36% supportGovernance
2011Ambassadors GroupAmend EEO policies to include sexual orientation and gender identityLead FiledWithdrawn with agreementEquality and Human Rights
2011C. R. BardIssue comprehensive sustainability reportLead Filed28% supportGovernance
2011Cisco SystemsAssess steps to prevent human rights violations associated with internet useCo-FiledEquality and Human Rights
2011ConocoPhillipsReport on environmental impact of oil sands developmentCo-Filed28% supportEnvironment/Climate Change
2011eHealthAmend EEO policies to include sexual orientation and gender identityLead FiledWithdrawn with agreementEquality and Human Rights
2011Emerson ElectricIssue comprehensive sustainability reportLead Filed34% supportGovernance
2011Exxon MobilAdopt quantitative goals to reduce greenhouse gas emissionsCo-Filed27% supportEnvironment/Climate Change
2011General MillsStudy feasibility of extended producer responsibility policyCo-FiledGovernance
2011GentexIssue comprehensive sustainability reportLead Filed38% supportGovernance
2011Hewlett-PackardSeparate CEO and chair rolesCo-Lead FiledWithdrawnGovernance
2011IBMReport on political spending and trade association membershipsLead Filed2% supportGovernance
2011JP Morgan ChaseImprove loan modification policies and oversightCo-Filed6% supportGovernance
2011Layne ChristensenIssue comprehensive sustainability reportLead Filed93% supportGovernance
2011NutraceuticalAmend EEO policies to include sexual orientation and gender identityLead FiledWithdrawn with agreementEquality and Human Rights
2011PepsiCoReport on political spending and trade association membershipsLead Filed11% supportGovernance
2011PfizerReport on political spending and trade association membershipsCo-Lead FiledWithdrawn with agreementGovernance
2011Procter & GambleStudy feasibility of extended producer responsibility policyCo-FiledGovernance
2011Southside BancsharesAmend EEO policies to include sexual orientation and gender identityLead FiledWithdrawn with agreementEquality and Human Rights
2011St. Jude MedicalIssue comprehensive sustainability reportLead FiledWithdrawn with agreementGovernance
2011State StreetSeparate CEO and chair rolesLead FiledWithdrawnGovernance
2011SyscoEvaluate and report on water risk in supply chainCo-Lead FiledEnvironment/Climate Change
2011TargetReport on political spending and trade association membershipsCo-Lead FiledWithdrawn with agreementGovernance
2011Varian MedicalIssue comprehensive sustainability reportLead FiledWithdrawn with agreementGovernance
2010AT&TReport on political spending policies, procedures and practicesCo-FiledWithdrawn due to late filingGovernance
2010Baldor ElectricIssue comprehensive sustainability reportLead FiledWithdrawn with agreementGovernance
2010C.R. BardIssue comprehensive sustainability reportLead Filed32% supportGovernance
2010Cisco SystemsAssess steps to prevent human rights violations associated with internet useCo-Filed34% supportEquality and Human Rights
2010Colgate-PalmoliveProvide advisory vote on executive compensationCo-Lead FiledWithdrawn with agreementGovernance
2010ConocoPhillipsReport on environmental impact of oil sands developmentCo-Filed27% supportEnvironment/Climate Change
2010Credo PetroleumIssue comprehensive sustainability reportLead FiledWithdrawn with agreementGovernance
2010Expeditors InternationalTake steps to increase board diversityCo-Lead FiledWithdrawn with agreementEquality and Human Rights
2010Exxon MobilAdopt and report on quantitative goals to reduce greenhouse gas emissionsCo-Filed27% supportEnvironment/Climate Change
2010GentexIssue comprehensive sustainability reportLead Filed33% supportGovernance
2010IBM CorporationProvide advisory vote on executive compensationCo-Filed45% supportGovernance
2010Johnson & JohnsonProvide advisory vote on executive compensationLead Filed48% supportGovernance
2010Layne ChristensenIssue comprehensive sustainability reportLead Filed60% supportGovernance
2010PepsiCoAdopt quantitative goals for U.S. beverage container recovery and recyclingCo-Lead FiledWithdrawn with agreementEnvironment/Climate Change
2010Procter & GambleProvide advisory vote on executive compensationLead FiledWithdrawn with agreementGovernance
2010St. Jude MedicalIssue comprehensive sustainability reportLead Filed43% supportGovernance
2010State StreetAdopt policy requiring an independent board chairLead Filed17% supportGovernance
2010TeamIssue comprehensive sustainability reportLead FiledWithdrawn with agreementGovernance
2010Time Warner CableIssue comprehensive sustainability reportLead FiledWithdrawn with agreementGovernance
2010Walt DisneyProvide advisory vote on executive compensationLead Filed51% supportGovernance
2010Watts Water TechnologiesTakes steps to increase board diversityLead FiledWithdrawn with agreementEquality and Human Rights
2009Cisco SystemsFreedom of association – human rights and the InternetCo-Filed34% supportEquality and Human Rights
2009Commercial MetalsAdopt inclusive non-discrimination policyCo-Lead w/ Client44% supportEquality and Human Rights
2009ConocoPhillipsEnvironmental impact of oil sands developmentCo-Filed31% supportEnvironment/Climate Change
2009DentsplyIssue comprehensive sustainability reportLead FiledWithdrawn with agreementGovernance
2009Diamond FoodsDevelop a vendor code of conduct that includes agricultural suppliersLead FiledWithdrawn with agreementGovernance
2009DionexAdopt inclusive non-discrimination policyLead FiledWithdrawn with agreementEquality and Human Rights
2009Exxon MobilAdopt and report on quantitative goals for reducing greenhouse gas emissionsCo-Filed29% supportEnvironment/Climate Change
2009General ElectricAdvisory vote on executive compensationCo-Filed43% supportGovernance
2009General MillsAdvisory vote on executive compensationLead Filed51% supportGovernance
2009Goldman SachsAdvisory vote on executive compensationCo-Lead w/ ClientWithdrawn with agreementGovernance
2009Hain Celestial GroupAdvisory vote on executive compensationLead Filed62% supportGovernance
2009Hewlett-PackardAdvisory vote on executive compensationCo-LeadWithdrawn with agreementGovernance
2009IBMAdvisory vote on executive compensationCo-Filed44% supportGovernance
2009IntelAdvisory vote on executive compensationLead FiledWithdrawn with agreementGovernance
2009KadantIssue comprehensive sustainability reportLead FiledWithdrawn with agreementGovernance
2009MiddlbyIssue comprehensive sustainability reportLead FiledWithdrawn with agreementGovernance
2009MicrosoftAdvisory vote on executive compensationCo-LeadWithdrawn with agreementGovernance
2009PepsiCoAdopt goals for U.S. beverage container recovery and recyclingCo-Lead9% supportEnvironment/Climate Change
2009Procter & GambleAdvisory vote on executive compensationLead Filed46% supportGovernance
2009South Jersey IndustriesIssue comprehensive sustainability reportLead FiledWithdrawn with agreementGovernance
2009St. Jude MedicalIssue comprehensive sustainability reportLead FiledWithdrawn with agreementGovernance
2009State StreetAdopt goals for U.S. beverage container recovery and recyclingLead FiledOmitted by SECEnvironment/Climate Change
2009StrykerIssue comprehensive sustainability reportLead FiledWithdrawn with agreementGovernance
2009United Natural FoodsDevelop a vendor code of conduct that includes agricultural suppliersLead FiledWithdrawn with agreementGovernance
2009Walt DisneyAdvisory vote on executive compensationLead Filed42% supportGovernance
2008AdobeReport on political contributions, policies and practicesLead FiledWithdrawn with agreementGovernance
2008Commercial MetalsInclude sexual orientation in non-discrimination policyLead FiledNo formal vote receivedEquality and Human Rights
2008DentsplyIssue comprehensive sustainability reportLead Filed36% supportGovernance
2008DoverIssue comprehensive sustainability reportLead Filed40% supportGovernance
2008Expeditors InternationalInclude sexual orientation in non-discrimination policyCo-Filed52% supportEquality and Human Rights
2008Exxon MobilAdopt and report on quantitative goals for reducing greenhouse gas emissionsCo-Filed31% supportEnvironment/Climate Change
2008General ElectricAdvisory vote on executive compensationLead Filed40% supportGovernance
2008General MillsReport on vendor standards, policies and practicesLead FiledWithdrawn with agreementGovernance
2008Goldman SachsAdvisory vote on executive compensationLead Filed46% supportGovernance
2008Hain Celestial GroupAdvisory vote on executive compensationLead Filed2008 filing for 2009 mtgGovernance
2008IBMAdvisory vote on executive compensationCo-Filed44% supportGovernance
2008Leggett & PlattInclude sexual orientation in non-discrimination policyLead Filed31% supportEquality and Human Rights
2008Parkway PropertiesIssue comprehensive sustainability reportLead FiledWithdrawn with agreementGovernance
2008PraxairReport on political contributions, policies and practicesLead FiledWithdrawn with agreementGovernance
2008Sigma-AldrichIssue comprehensive sustainability reportLead FiledWithdrawn with agreementGovernance
2008T. Rowe PriceReport on investment policies addressing human rights, with focus on SudanLead FiledWithdrawn with agreementEquality and Human Rights
2008Texas InstrumentsReport on political contributions, policies and practicesLead FiledWithdrawn with agreementGovernance
2008UnitedHealth CareAdvisory vote on executive compensationLead Filed42% supportGovernance
2008UPSReport on political contributions, policies and practicesLead FiledWithdrawn with agreementGovernance
2008WatersIssue comprehensive sustainability reportLead FiledWithdrawn with agreementGovernance
2008Wells FargoAdvisory vote on executive compensationLead Filed30% supportGovernance
20073MReport on political contributions, policies and practicesLead FiledWithdrawn with agreementGovernance
2007Applied MaterialsReport on vendor standards, policies and practicesLead FiledWithdrawn with agreementGovernance
2007CenturyTelInclude sexual orientation in non-discrimination policyLead FiledWithdrawn with agreementEquality and Human Rights
2007ClarcorInclude sexual orientation in non-discrimination policyLead FiledWithdrawn with agreementEquality and Human Rights
2007Coca-ColaReport on recycling programs and goalsLead FiledWithdrawn with agreementEnvironment/Climate Change
2007ComericaIssue comprehensive sustainability reportLead Filed29% supportGovernance
2007Commercial MetalsInclude sexual orientation in non-discrimination policyLead Filed43% supportEquality and Human Rights
2007DoverIssue comprehensive sustainability reportLead Filed35% supportGovernance
2007Expeditors InternationalInclude sexual orientation in non-discrimination policyCo-Filed43% supportEquality and Human Rights
2007Exxon MobilAdopt and report on quantitative goals for reducing greenhouse gas emissionsCo-Filed31% supportEnvironment/Climate Change
2007Hershey’sReport on vendor standards, policies and practicesLead FiledWithdrawn with agreementGovernance
2007Home DepotPublic disclosure of Equal Employment Opportunity DataLead Filed26% supportEquality and Human Rights
2007Leggett & PlattInclude sexual orientation in non-discrimination policyLead Filed26% supportEquality and Human Rights
2007Lehman BrothersPublic disclosure of Equal Employment Opportunity DataLead FiledWithdrawn with agreementEquality and Human Rights
2007MedtronicIssue comprehensive sustainability reportLead Filedwithdrawn with agreementGovernance
2007PepsiCoReport on recycling programs and goalsLead FiledWithdrawn with agreementEnvironment/Climate Change
2007PfizerReport on executive compensation policies and practicesLead FiledWithdrawn with agreementGovernance
2007Precision CASTPARTSInclude sexual orientation in non-discrimination policyCo-FiledWithdrawn with agreementEquality and Human Rights
2007Procter & GambleReport on executive compensation policies and practicesLead FiledWithdrawn with agreementGovernance
2007Wells FargoReport on executive compensation policies and practicesLead Filed35% supportGovernance
2007Wrigley’sReport on vendor standards, policies and practicesLead FiledWithdrawn with agreementGovernance
2006AmSouth BancorpInclude sexual orientation in non-discrimination policyLead Filed28% supportEquality and Human Rights
2006AT&TIssue comprehensive sustainability reportLead FiledWithdrawn with agreementGovernance
2006C. R. BardInclude sexual orientation in non-discrimination policyLead FiledWithdrawn with agreementEquality and Human Rights
2006BellSouthReport on political contributions, policies and practicesCo-Filed12% supportGovernance
2006ChubbIssue comprehensive sustainability reportLead FiledWithdrawn with agreementGovernance
2006Coca-ColaAdopt comprehensive recycling policyLead FiledWithdrawn with agreementEnvironment/Climate Change
2006Commercial MetalsInclude sexual orientation in non-discrimination policyLead Filed43% supportEquality and Human Rights
2006DonaldsonPublic disclosure of equal employment opportunity dataLead FiledWithdrawn with agreementEquality and Human Rights
2006Exxon MobilInclude sexual orientation in non-discrimination policyCo-Filed34% supportEquality and Human Rights
2006Exxon MobilReport on climate change science researchCo-FiledWithdrawn with agreementEnvironment/Climate Change
2006Home DepotPublic disclosure of equal employment opportunity dataLead Filed36% supportEquality and Human Rights
2006Illinois Tool WorksPublic disclosure of equal employment opportunity dataCo-FiledWithdrawn with agreementEquality and Human Rights
2006Leggett & PlattInclude sexual orientation in non-discrimination policyLead Filed25% supportEquality and Human Rights
2006PepsiCoAdopt comprehensive recycling policyLead FiledWithdrawn with agreementEnvironment/Climate Change
2006SYSCOIssue comprehensive sustainability reportLead FiledWithdrawn with agreementGovernance
2006Wal-MartPublic disclosure of equal employment opportunity dataCo-FiledWithdrawn with agreementEquality and Human Rights
2005ALLTELInclude sexual orientation in non-discrimination policyLead FiledWithdrawn with agreementEquality and Human Rights
2005AmgenPublic disclosure of equal employment opportunity dataLead FiledWithdrawn with agreementEquality and Human Rights
2005ApacheReport on climate change policiesCo-FiledWithdrawn with agreementEnvironment/Climate Change
2005BellSouthReport on political contributions, policies and practicesCo-Filed12% supportGovernance
2005CarlisleInclude sexual orientation in non-discrimination policyLead FiledWithdrawn with agreementEquality and Human Rights
2005Exxon MobilInclude sexual orientation in non-discrimination policyCo-Filed29% supportEquality and Human Rights
2005Exxon MobilReport on climate change science researchCo-Filed10% supportEnvironment/Climate Change
2005GentexInclude sexual orientation in non-discrimination policyLead FiledWithdrawn with agreementEquality and Human Rights
2005Home DepotPublic disclosure of equal employment opportunity dataLead Filed30% supportEquality and Human Rights
2005IBMAdopt comprehensive recycling policyLead FiledWithdrawn with agreementEnvironment/Climate Change
2005PepsiCoAdopt comprehensive recycling policyLead FiledWithdrawn with agreementEnvironment/Climate Change
2005TJXReport on vendor standards and policiesLead Filed9% supportGovernance
2005Wal-MartPublic disclosure of equal employment opportunity dataCo-Filed19% supportEquality and Human Rights
2004ALLTELInclude sexual orientation in non-discrimination policyLead Filed28% supportEquality and Human Rights
2004AIGReport on climate change policiesLead FiledSEC omittedEnvironment/Climate Change
2004AmgenPublic disclosure of equal employment opportunity dataLead Filed15% supportEquality and Human Rights
2004ApacheReport on climate change policiesCo-Filed37% supportEnvironment/Climate Change
2004Avon ProductsDeclassify election of directorsCo-FiledWithdrawn with agreementGovernance
2004Bell SouthDeclassify election of directorsLead FiledWithdrawn with agreementGovernance
2004ChubbReport on climate change policiesLead FiledSEC omittedEnvironment/Climate Change
2004CostcoDeclassify election of directorsLead Filed76% supportGovernance
2004DoverInclude sexual orientation in non-discrimination policyResolutionWithdrawn with agreementEquality and Human Rights
2004Exxon MobilInclude sexual orientation in non-discrimination policyCo-Filed29% supportEquality and Human Rights
2004Exxon MobilReview human rights policiesCo-Filed8% supportEquality and Human Rights
2004GilletteDeclassify election of directorsCo-Filed68% supportGovernance
2004IntelReport on water use policiesCo-FiledWithdrawn with agreementEnvironment/Climate Change
2004JP Morgan ChaseReview executive compensation policiesCo-Filed8% supportGovernance
2004MerckHIV/AIDS pandemic policies and programsCo-Filed14% supportHealth
2004PepsiCoHIV/AIDS pandemic policies and programsCo-Filed7% supportHealth
2004SBC CommunicationsDeclassify election of directorsCo-FiledWithdrawn with agreementGovernance
2004StrykerInclude sexual orientation in non-discrimination policyLead FiledWithdrawn with agreementEquality and Human Rights
2004TJXDeclassify election of directorsLead Filed77% supportGovernance
2004TJXReport on vendor standards, policies and practicesCo-Filed7% supportGovernance
2004Wal-MartPublic disclosure of equal employment opportunity dataCo-Filed16% supportEquality and Human Rights
2003ALLTELInclude sexual orientation in non-discrimination policyLead Filed12% supportEquality and Human Rights
2003AutodeskShareholder communication with independent directorCo-FiledWithdrawn with agreementGovernance
2003AvonDeclassify election of directorsLead Filed81% supportGovernance
2003BJ’s WholesaleDeclassify election of directorsLead FiledWithdrawn with agreementGovernance
2003TapesAdopt comprehensive labor standardsLead Filed8% supportEquality and Human Rights
2003Coca-ColaReport on beverage container recycling goalCo-Lead FiledSEC omittedEnvironment/Climate Change
2003Coca-Cola EnterprisesAdopt comprehensive recycling policyCo-Lead Filed4% supportEnvironment/Climate Change
2003Colgate-PalmoliveReport on response to Sub-Saharan health pandemicLead FiledWithdrawn with agreementHealth
2003DoverInclude sexual orientation in non-discrimination policyLead Filed43% supportEquality and Human Rights
2003Emerson ElectricInclude sexual orientation in non-discrimination policyCo-Filed10% supportEquality and Human Rights
2003Exxon MobilInclude sexual orientation in non-discrimination policyCo-Filed27% supportEquality and Human Rights
2003Exxon MobilReview human rights policies, report on reviewCo-Filed8% supportEquality and Human Rights
2003Federated Dept. StoresReport on vendor standards and how then ensure the exclusion of child laborCo-Lead FiledWithdrawn with agreementEquality and Human Rights
2003FedExInclude sexual orientation in non-discrimination policyLead FiledWithdrawn with agreementEquality and Human Rights
2003GilletteDeclassify election of directorsLead Filed63% supportGovernance
2003Herman MillerPublic disclosure of equal employment opportunity dataLead FiledWithdrawn with agreementEquality and Human Rights
2003Illinois Tool WorksPublic disclosure of equal employment opportunity dataLead FiledWithdrawn with agreementEquality and Human Rights
2003JP Morgan ChaseReport on executive compensationCo-Filed9% supportGovernance
2003Marsh McLennanReport on risks associated with greenhouse gasesLead FiledWithdrawn with agreementEnvironment/Climate Change
2003McDonald’sDeclassify election of directorsLead FiledWithdrawn with agreementGovernance
2003MerckPublic disclosure of equal employment opportunity dataCo-FiledWithdrawn with agreementEquality and Human Rights
2003MerckDeclassify election of directorsLead FiledWithdrawn with agreementGovernance
2003MicrosoftUtilize Global Reporting Initiative reporting systemLead FiledWithdrawn with agreementGovernance
2003Occidental PetroleumReport on risks associated with greenhouse gasesLead FiledWithdrawn with agreementEnvironment/Climate Change
2003PepsiCoReport on beverage container recycling goalCo-Lead FiledSEC omittedEnvironment/Climate Change
2003SUPERVALUMercury thermometer phase-outCo-Lead FiledWithdrawn with agreementHealth
2003TJXReport on vendor standardsLead Filed8% supportGovernance
2003UnocalAdopt and report on International Labour Organization standardsCo-FiledWithdrawn with agreementEquality and Human Rights
2003Wal-MartAdopt and report on International Labour Organization standardsCo-Filed4% supportEquality and Human Rights
2003YUM! BrandsPrepare sustainability reportCo-Filed35% supportGovernance
2002Abbott LaboratoriesAdopt drug accessibility policyCo-FiledWithdrawnHealth
2002AlbertsonsLabel genetically engineered foodLead Filed4% supportHealth
2002ALLTELAmend anti-discrimination policy to include sexual orientationCo-Lead Filed10% supportEquality and Human Rights
2002BemisPublic disclosure of equal employment opportunity dataLead FiledWithdrawn with agreementEquality and Human Rights
2002BP AmocoReview risks of Investing in environmentally sensitive areasCo-Lead Filed11% supportEnvironment/Climate Change
2002Bristol Myers SquibbMake HIV/AIDS drugs affordable in African countriesCo-FiledWithdrawnHealth
2002Cardinal HealthPhase-out sale of mercury containing thermometersLead FiledWithdrawn with agreementHealth
2002Chevron TexacoReport on greenhouse gas emissionsCo-FiledWithdrawnEnvironment/Climate Change
2002Coca-ColaSet recycling goalsCo-Lead Filed4% supportEnvironment/Climate Change
2002ConsecoTake steps to prevent predatory lendingCo-Filed8% supportGovernance
2002Cooper IndustriesIssue comprehensive sustainability reportCo-Filed22% supportGovernance
2002DellProduct take-back and recyclingCo-FiledWithdrawn with agreementEnvironment/Climate Change
2002Delphi AutomotiveReport on global labor standardsCo-Filed22% supportEquality and Human Rights
2002Eastman ChemicalReport on cigarette filter health effectsCo-Filed8% supportHealth
2002EMCIncrease board independenceCo-Lead Filed56% supportGovernance
2002EMCCommit to in-person annual general meetingCo-Lead FiledSEC omittedGovernance
2002EMCTake steps to diversify board by gender and raceCo-Lead Filed32% supportEquality and Human Rights
2002Exxon MobilDevelop renewable energy alternativesCo-Filed20% supportEnvironment/Climate Change
2002Exxon MobilAmend anti-discrimination policy to include sexual orientationCo-Filed24% supportEquality and Human Rights
2002Exxon MobilAdopt comprehensive human rights policyCo-Filed7% supportEquality and Human Rights
2002FleetBoston FinancialPublic disclosure of equal employment opportunity dataLead FiledWithdrawn with agreementEquality and Human Rights
2002FleetBoston FinancialLink executive compensation to social criteriaCo-Filed13% supportGovernance
2002HasbroAdopt International Labour Organization standards and independent monitoringCo-Lead Filed7% supportEquality and Human Rights
2002HCAPhase-out use of mercury containing medical devicesLead FiledWithdrawn with agreementHealth
2002IBMProduct take-back and recyclingCo-FiledSEC omittedEnvironment/Climate Change
2002JC PenneyPhase-out sale of mercury containing thermometersLead FiledWithdrawn with agreementHealth
2002Kohl’sAdopt and report on International Labour Organization standardsCo-Filed4% supportEquality and Human Rights
2002KrogerLabel genetically engineered foodLead Filed6% supportHealth
2002Lehman BrothersUse majority shareholder position in Peabody Coal to limit use of Hopi water supplyCo-Lead FiledWithdrawn with agreementEquality and Human Rights
2002LowesAdopt International Labour Organization standards and independent monitoringCo-Filed6% supportEquality and Human Rights
2002Occidental PetroleumReport on greenhouse gas emissionsLead Filed19% supportEnvironment/Climate Change
2002PepsiCoSet recycling goalsCo-Lead Filed5% supportEnvironment/Climate Change
2002SearsAdopt and report on International Labour Organization standardsCo-Filed9% supportEquality and Human Rights
2002SYSCOReport on impacts of genetically engineered foodCo-Filed6% supportHealth
2002TeleflexAmend anti-discrimination policy to include sexual orientationLead FiledWithdrawn with agreementEquality and Human Rights
2002TJXReport on vendor standardsLead Filed5% supportGovernance
2002Tricon Global RestaurantsReport on impacts of genetically engineered foodLead FiledWithdrawn with agreementHealth
2002UnocalLink executive compensation to social criteriaCo-Filed9% supportGovernance
2001AIGInclude sexual orientation in non-discrimination policyLead FiledWithdrawn with agreementEquality and Human Rights
2001AlbertsonsLabel genetically engineered food ingredientsLead Filed6.1% supportHealth
2001Associates FirstTake steps to prevent predatory lendingCo-FiledCombined with CitigroupGovernance
2001AT&TTie executive compensation to social performanceCo-Lead Filed13% supportGovernance
2001Bank of AmericaDisclose Equal Employment Opportunity dataLead FiledWithdrawn with agreementEquality and Human Rights
2001BP AmocoReview risks associated with drilling in Arctic National Wildlife RefugeCo-Lead FiledSEC omittedEnvironment/Climate Change
2001Chase ManhattanReport on global lending standards in developing countriesCo-Filed3.3% supportGovernance
2001Chevron TexacoReport on efforts to decrease greenhouse gas emissionsCo-Filed9.6% supportEnvironment/Climate Change
2001CitigroupTake steps to prevent predatory lendingCo-FiledWithdrawn with agreementGovernance
2001Coca-ColaSet recycling goalsCo-Lead Filed5.1% supportEnvironment/Climate Change
2001ConsecoTake steps to prevent predatory lendingCo-Filed8.0% supportGovernance
2001CVSPhase-out sales of mercury thermometersLead FiledWithdrawn with agreementHealth
2001Eastman ChemicalConduct study to evaluate health risks posed by cigarette filter towsCo-Filed8.0% supportHealth
2001EMCDisclose Equal Employment Opportunity dataLead FiledCompany excluded from proxy statementEquality and Human Rights
2001Exxon MobilIncrease commitment to renewable energyCo-Filed8.9% supportEnvironment/Climate Change
2001Georgia PacificIncrease environmental disclosureLead FiledWithdrawn with agreementEnvironment/Climate Change
2001Home DepotDisclose Equal Employment Opportunity dataCo-Lead FiledWithdrawn with agreementEquality and Human Rights
2001IBMPolicy for employees to receive comparable retirement benefitsCo-Filed14.7% supportGovernance
2001Jones ApparelReport on vendor standard compliance mechanismsCo-FiledWithdrawn with agreementGovernance
2001Kohl’sTie executive compensation to social performanceCo-FiledWithdrawn with agreementGovernance
2001KrogerLabel genetically engineered food ingredientsLead Filed15.3% supportHealth
2001Lehman BrothersTake steps to prevent predatory lendingLead FiledWithdrawn with agreementGovernance
2001Longs DrugPhase-out sales of mercury thermometersLead FiledWithdrawn with agreementHealth
2001NordstromReport on vendor standard compliance mechanismsCo-Filed6.2% supportGovernance
2001Occidental PetroleumReport on plans to drill on land deemed sacred by U’wa (Colombia)Co-Filed8.3% supportEquality and Human Rights
2001PepsiCoSet recycling goalsCo-Lead Filed8.1% supportEnvironment/Climate Change
2001SearsEstablish independent monitoring of vendors and adopt ILO stdsCo-Filed8.1% supportEquality and Human Rights
2001TJXImplement McBride Principles (Northern Ireland)Co-Filed16.4% supportEquality and Human Rights
2001Tricon Global RestaurantsReport on phase-out of genetically engineered food ingredientsLead FiledWithdrawn with agreementHealth
2001UnocalTie executive compensation to social performanceCo-Filed15.4% supportGovernance
2001Wal-MartReport on vendor standard compliance mechanismsCo-Filed5.2% supportGovernance
2001WorldComDisclose Equal Employment Opportunity dataLead FiledWithdrawn with agreementEquality and Human Rights
2000Associates FirstTake steps to prevent predatory lendingCo-Filed9% supportGovernance
2000Atlantic RichfieldCease support of opening Arctic National Wildlife Refuge (ANWR)Co-FiledMeeting cancelledEnvironment/Climate Change
2000ConAgraLabel/remove genetically engineered food ingredientsLead FiledWithdrawn with agreementHealth
2000BP AmocoPreserve ANWR & increase commitment to solar energyCo-Filed13.5% supportEnvironment/Climate Change
2000R. R. DonnelleyReview wage equity/comparable worth issues at companyLead Filed6.5% supportEquality and Human Rights
2000Exxon MobilDevelop renewable Energy AlternativesCo-Filed6.2% supportEnvironment/Climate Change
2000Home DepotDisclose Equal Employment Opportunity dataCo-Lead Filed10.5% supportEquality and Human Rights
2000Imerys (France)No interference with union vote in Alabama plantaRepresentation at meetingWithdrawn with agreementEquality and Human Rights
2000KrogerLabel/remove genetically engineered food ingredientsLead Filed3% supportHealth
2000MBNADisclose Equal Employment Opportunity dataLead FiledWithdrawn with agreementEquality and Human Rights
2000Occidental PetroleumPrevent drilling on land deemed sacred by U’waCo-Filed4% supportEquality and Human Rights
2000Tricon Global RestaurantsLabel/remove genetically engineered food ingredientsLead FiledWithdrawn with agreementHealth
2000Winn-DixieDisclose Equal Employment Opportunity dataLead FiledWithdrawn with agreementEquality and Human Rights
1999ABN Amro (Netherlands)Become signatory to UNEP Statement by Financial Institutions on Sustainable DevelopmentCo-Filed14.4% supportGovernance
1999AIGIssue a policy publicly committing to board inclusivenessCo-FiledSEC omittedEquality and Human Rights
1999Atlantic RichfieldCease support of opening Arctic National Wildlife Refuge (ANWR)Lead FiledWithdrawn with commitmentEnvironment/Climate Change
1999R. R. DonnelleyReview wage equity/comparable worth issues at companyCo-FiledWithdrawn with agreementEquality and Human Rights
1999GilletteEndorse CERES PrinciplesCo-Filed7% supportEnvironment/Climate Change
1999Harley-DavidsonEndorse CERES PrinciplesCo-Lead Filed14.4% supportEnvironment/Climate Change
1999Home DepotDisclose Equal Employment Opportunity dataCo-Filed10.6% supportEquality and Human Rights
1999Hewlett-PackardReview global environmental standards for suppliersCo-FiledWithdrawn with agreementEnvironment/Climate Change
1999HypoVereinsbankAddress deficiencies in financial and environmental risk assessment projects, i.e. Maheshwar Dam in IndiaLead FiledWithdrawn with commitmentGovernance
1999T. Rowe Price (Germany)Disclose Equal Employment Opportunity dataLead FiledWithdrawn with agreementEquality and Human Rights
1998AIGDisclose Equal Employment Opportunity dataCo-Filed14.4% supportEquality and Human Rights
1998AIGReview financial effects of climate changeCo-FiledSEC omittedEnvironment/Climate Change
1998AMR Corp.Endorse CERES PrinciplesLead FiledWithdrawn with commitmentEnvironment/Climate Change
1998DeereEndorse CERES PrinciplesCo-FiledWithdrawn with agreementEnvironment/Climate Change
1998Hewlett-PackardReview global environmental standards for suppliersCo-Filed7% supportEnvironment/Climate Change
1998Home DepotDisclose Equal Employment Opportunity dataCo-Lead Filed14.4% supportEquality and Human Rights
1998IntelEndorse CERES PrinciplesCo-Filed10.6% supportEnvironment/Climate Change
1998Walt DisneyEndorse CERES PrinciplesCo-FiledWithdrawn with agreementEnvironment/Climate Change
1998Wolverine TubeReconstitution of Board to include greater independence and diversityLead FiledWithdrawn with commitmentGovernance
1998XeroxAsk shareholders to support company’s past environmental performanceLead FiledWithdrawn with agreementEnvironment/Climate Change
1997AT&TReview executive pay/study link to social performanceLead Filed14% supportGovernance
1997AIGIssue a policy publicly committing to board inclusivenessCo-Filed10% supportGovernance
1997Atlantic RichfieldDevelopment of human rights guidelines for country selection, particularly given the firm’s ties in BurmaCo-Filed10% supportEquality and Human Rights
1997Johnson & JohnsonReview and amend its global set of corporate standardsCo-FiledWithdrawn with agreementGovernance
1997MCIDisclose Equal Employment Opportunity dataLead FiledSEC omittedEquality and Human Rights
1997Southwest AirlinesDisclose Equal Employment Opportunity dataLead Filed12% supportEquality and Human Rights
1997TexacoUpdate report on Equal Employment OpportunityCo-FiledWithdrawn with commitmentEquality and Human Rights
1997XeroxEndorse CERES PrinciplesCo-FiledWithdrawn with agreementEnvironment/Climate Change
1996Becton DickinsonReport on its Mexican maquiladora operationCo-Filed10% supportEquality and Human Rights
1996Bristol Myers SquibbReport on executive pay ties to social issuesLead FiledWithdrawn with agreementGovernance
1996Leggett & PlattReport on CERES environmental principlesLead Filed14% supportEnvironment/Climate Change
1996Sigma-AldrichDisclose Equal Employment Opportunity dataLead FiledWithdrawn with agreementEquality and Human Rights
1995AlbertsonsDisclose Equal Employment Opportunity dataLead FiledWithdrawn with agreementEquality and Human Rights
1995First Virginia BanksReport on Community ReinvestmentLead FiledWithdrawn with commitmentGovernance
1995WW GraingerDisclose Equal Employment Opportunity dataLead FiledWithdrawn with commitmentEquality and Human Rights
1995MascoEnvironmental liabilities disclosureLead FiledWithdrawn with commitmentEnvironment/Climate Change
1995Northwest Natural GasDisclose Equal Employment Opportunity dataLead FiledWithdrawn with commitmentEquality and Human Rights
1994AMETEKMore independent and diverse boardLead Filed30% supportGovernance
1994R. R. DonnelleyDisclose Equal Employment Opportunity dataLead Filed21% supportEquality and Human Rights
1994WW GraingerDisclose Equal Employment Opportunity dataLead Filed11% supportEquality and Human Rights
1994Leggett & PlattDisclose Equal Employment Opportunity dataLead Filed14% supportEquality and Human Rights
1994Tecumseh ProductsDisclose Equal Employment Opportunity dataLead FiledWithdrawn with commitmentEquality and Human Rights
1993AlbertsonsDisclose Equal Employment Opportunity dataLead FiledWithdrawn with agreementEquality and Human Rights
1993Oregon Steel MillsReport publicly on the environmental impact of its operationsLead Filed6% supportEnvironment/Climate Change
1992Oregon Steel MillsReport publicly on the environmental impact of its operationsLead Filed6% supportEnvironment/Climate Change
1990Angelica Corp.Report on the Valdez (CERES) PrinciplesLead Filed/CSIFWithdrawn with agreementEnvironment/Climate Change
1990GannettReport on the Valdez (CERES) PrinciplesLead Filed/CSIFWithdrawn with agreementEnvironment/Climate Change
1986Angelica Corp.Study and report on the relations between the corporation’s employees, management, and shareholders and on what applicable policies, if any, have been implementedLead Filed/CSIFWithdrawn with agreementGovernance
2019AlphabetPrepare a report assessing the feasibility of integrating sustainability metrics, including diversity, into compensation plansCo-Filed10% supportEquality and Human Rights
2019Artisan Partners Asset ManagementReview and report on proxy voting policies and practices related to climate changeLead FiledWithdrawn with agreementGovernance
2019AT&TReport on policies and procedures regarding direct, indirect, and grassroots lobbying; disclose payments used for lobbying and non-tax-exempt payments to trade associations and other entities to influence public policyCo-FiledWithdrawn with agreementGovernance
2019AtrionReport on steps being taken to improve board diversityLead FiledWithdrawn with agreementEquality and Human Rights
2019Charter CommunicationsIssue a report describing policies, performance, and improvement targets associated with key ESG risks and opportunities, include GHG reduction goalsCo-Lead Filed28% supportGovernance
2019ChevronAssess reducing carbon footprint in alignment with GHG reductions needed to achieve the Paris Climate Agreement Co-Filed33% supportEnvironment/Climate Change
2019ComcastReport on policies and procedures regarding direct, indirect, and grassroots lobbying; disclose payments used for lobbying and non-tax-exempt payments to trade associations and other entities to influence public policyCo-Filed18% supportGovernance
2019CorVelIssue a public report detailing the risks associated with omitting “sexual orientation” and “gender identity” from its written equal employment opportunity (EEO) policyLead FiledChallenged and lost at SECEquality and Human Rights
2019Emerson ElectricAdopt quantitative, company-wide goals for reducing total greenhouse gas emissions consistent with the Paris Climate Agreement Lead FiledWithdrawn with agreementEnvironment/Climate Change
2019IBMReport on policies and procedures regarding direct, indirect, and grassroots lobbying; disclose payments used for lobbying and non-tax-exempt payments to trade associations and other entities to influence public policyCo-FiledWithdrawn with agreementGovernance
2019Illinois Tool WorksAdopt quantitative, company-wide goals for reducing total greenhouse gas emissions consistent with the Paris Climate Agreement Co-Filed21% supportEnvironment/Climate Change
2019JP Morgan ChaseReport on policies and procedures regarding direct, indirect, and grassroots lobbying; disclose payments used for lobbying and non-tax-exempt payments to trade associations and other entities to influence public policyCo-FiledWithdrawn with agreementGovernance
2019OracleReport on policies and procedures regarding direct, indirect, and grassroots lobbying; disclose payments used for lobbying and non-tax-exempt payments to trade associations and other entities to influence public policyCo-FiledWithdrawn with agreementGovernance
2019SEI InvestmentsReport a comprehensive breakdown of workforce by race and gender according to the Equal Employment Opportunity Commissions defined job categories, and policies and programs to improve diversityLead FiledWithdrawn with agreementEquality and Human Rights
2019UPSReport on policies and procedures regarding direct, indirect, and grassroots lobbying; disclose payments used for lobbying and non-tax-exempt payments to trade associations and other entities to influence public policyCo-Filed21% supportGovernance
2019Verizon CommunicationsReport on policies and procedures regarding direct, indirect, and grassroots lobbying; disclose payments used for lobbying and non-tax-exempt payments to trade associations and other entities to influence public policyCo-FiledWithdrawn with agreementGovernance
2019Walt DisneyReport on policies and procedures regarding direct, indirect, and grassroots lobbying; disclose payments used for lobbying and non-tax-exempt payments to trade associations and other entities to influence public policyCo-Filed39% supportGovernance
2020JP Morgan ChaseReview and report on proxy voting policies and practices related to climateLead FiledWithdrawn with agreementEnvironment/Climate Change
2020Vanguard GroupReview and report on proxy voting policies and practices related to climateLead FiledIn negotiationEnvironment/Climate Change
2020AlphabetPrepare a report assessing the feasibility of integrating sustainability metrics, including diversity, into compensation plansCo-Filed13% supportEquality and Human Rights
2020Bridge BancorpReport on actions to enhance board diversity, such as implementing best practice nominating and governance policies and proxy disclosureLead FiledWithdrawn with agreementEquality and Human Rights
2020The Ensign GroupReport on actions to enhance board diversity, such as implementing best practice nominating and governance policies and proxy disclosureLead FiledWithdrawn with agreementEquality and Human Rights
2020Choice HotelsDisclose a comprehensive breakdown of workforce by race and gender according to the Equal Employment Opportunity Commission’s defined job categories, and report on policies and programs to improve diversityLead FiledWithdrawn with agreementEquality and Human Rights
2020Home DepotDisclose a comprehensive breakdown of workforce by race and gender according to the Equal Employment Opportunity Commission’s defined job categories, and report on policies and programs to improve diversityCo-Filed36% supportEquality and Human Rights
2020Hyatt HotelsDisclose a comprehensive breakdown of workforce by race and gender according to the Equal Employment Opportunity Commission’s defined job categories, and report on policies and programs to improve diversityLead FiledWithdrawn with agreementEquality and Human Rights
2020Williams-SonomaDisclose a comprehensive breakdown of workforce by race and gender according to the Equal Employment Opportunity Commission’s defined job categories, and report on policies and programs to improve diversityLead FiledWithdrawn with agreementEquality and Human Rights
2020NordstromEvaluate and report on the impact of the use of mandatory arbitration on the prevalence of workplace harassment and discrimination and employees’ ability to seek redressCo-FiledWithdrawn with agreementEquality and Human Rights
2020Charter CommunicationsIssue a report describing policies, performance, and improvement targets associated with key ESG risks and opportunities, including GHG reduction goalsCo-Lead FiledWithdrawn with agreementGovernance
2020ChevronReport on policies and procedures regarding direct, indirect, and grassroots lobbying; disclose payments used for lobbying and non-tax-exempt payments to trade associations and other entities to influence public policyCo-FiledOmitted by SECGovernance
2020ComcastReport on policies and procedures regarding direct, indirect, and grassroots lobbying; disclose payments used for lobbying and non-tax-exempt payments to trade associations and other entities to influence public policyCo-Filed26% supportGovernance
2020ExxonMobilReport on policies and procedures regarding direct, indirect, and grassroots lobbying; disclose payments used for lobbying and non-tax-exempt payments to trade associations and other entities to influence public policyCo-Filed38% supportGovernance
2020PfizerReport on policies and procedures regarding direct, indirect, and grassroots lobbying; disclose payments used for lobbying and non-tax-exempt payments to trade associations and other entities to influence public policyCo-Filed21% supportGovernance
2020UPSReport on policies and procedures regarding direct, indirect, and grassroots lobbying; disclose payments used for lobbying and non-tax-exempt payments to trade associations and other entities to influence public policyLead-Filed24% supportGovernance
2020Walt DisneyReport on policies and procedures regarding direct, indirect, and grassroots lobbying; disclose payments used for lobbying and non-tax-exempt payments to trade associations and other entities to influence public policyCo-Filed34% supportGovernance
2021JP Morgan ChaseReport on plans to measure and disclose greenhouse gas footprint of financing activitiesCo-FiledWithdrawn with agreementEnvironment/Climate Change
2021ExxonMobilEvaluate and report on lobbying activity alignment with the goal of limiting average global warming to well below 2 degrees Celsius and address plans to mitigate any misalignmentCo-Filed64% supportEnvironment/Climate Change
2021BlackRockReview and report on proxy voting policies and practices related to climate changeCo-Lead FiledWithdrawn with agreementEnvironment/Climate Change
2021T. Rowe Price GroupReview and report on proxy voting policies and practices related to climate changeCo-Filed17% supportEnvironment/Climate Change
2021AlphabetPrepare a report assessing the feasibility of integrating sustainability metrics, including diversity among senior executives, into compensation plansCo-Filed12% supportEquality and Human Rights
2021German American BancorpReport on actions to enhance board diversity, such as implementing best practice nominating and governance policies and proxy disclosureLead FiledWithdrawn with agreementEquality and Human Rights
2021IPG PhotonicsReport on actions to enhance board diversity, such as implementing best practice nominating and governance policies and proxy disclosureLead FiledWithdrawn with agreementEquality and Human Rights
2021U.S. Physical TherapyReport on actions to enhance board diversity, such as implementing best practice nominating and governance policies and proxy disclosureLead FiledWithdrawn with agreementEquality and Human Rights
2021Home DepotCommit to annual disclosure of a comprehensive breakdown of the workforce by race and gender according to the Equal Employment Opportunity Commission’s defined job categories (EEO-1 Report)Co-FiledWithdrawn with agreementEquality and Human Rights
2021ChevronReport on policies and procedures regarding direct, indirect, and grassroots lobbying; disclose payments used for lobbying and non-tax-exempt payments to trade associations and other entities to influence public policyCo-Filed48% supportGovernance
2021ComcastReport on policies and procedures regarding direct, indirect, and grassroots lobbying; disclose payments used for lobbying and non-tax-exempt payments to trade associations and other entities to influence public policyCo-FiledWithdrawn with agreementGovernance
2021PfizerReport on policies and procedures regarding direct, indirect, and grassroots lobbying; disclose payments used for lobbying and non-tax-exempt payments to trade associations and other entities to influence public policyCo-FiledWithdrawn with agreementGovernance
2021UPSReport on policies and procedures regarding direct, indirect, and grassroots lobbying; disclose payments used for lobbying and non-tax-exempt payments to trade associations and other entities to influence public policyCo-Filed26% supportGovernance
2021Walt DisneyReport on policies and procedures regarding direct, indirect, and grassroots lobbying; disclose payments used for lobbying and non-tax-exempt payments to trade associations and other entities to influence public policyCo-Filed33% supportGovernance
2022AlphabetEvaluate and report on alignment of direct and indirect lobbying activity with the Paris Agreement’s ultimate goal to limit average global warming to 1.5°C and address plans to mitigate the risks presented by any misalignmentCo-Filed19% supportEnvironment/Climate Change
2022AmgenEvaluate and report on alignment of direct and indirect lobbying activity with the Paris Agreement’s ultimate goal to limit average global warming to 1.5°C and address plans to mitigate the risks presented by any misalignmentLead FiledWithdrawn with agreementEnvironment/Climate Change
2022JPMorgan ChaseEvaluate and report on alignment of direct and indirect lobbying activity with the Paris Agreement’s ultimate goal to limit average global warming to 1.5°C and address plans to mitigate the risks presented by any misalignmentLead FiledWithdrawn with agreementEnvironment/Climate Change
2022Merck & Co.Evaluate and report on alignment of direct and indirect lobbying activity with the Paris Agreement’s ultimate goal to limit average global warming to 1.5°C and address plans to mitigate the risks presented by any misalignmentLead FiledWithdrawn with agreementEnvironment/Climate Change
2022Union PacificEvaluate and report on alignment of direct and indirect lobbying activity with the Paris Agreement’s ultimate goal to limit average global warming to 1.5°C and address plans to mitigate the risks presented by any misalignmentLead FiledWithdrawn with agreementEnvironment/Climate Change
2022UnitedHealth GroupEvaluate and report on alignment of direct and indirect lobbying activity with the Paris Agreement’s ultimate goal to limit average global warming to 1.5°C and address plans to mitigate the risks presented by any misalignmentLead FiledWithdrawn with agreementEnvironment/Climate Change
2022CorVelReport on actions to enhance board diversity, such as implementing leading practice nominating and governance policies and proxy disclosureLead Filed36% supportEquality and Human Rights
2022CactusReport on actions to enhance board diversity, such as implementing leading practice nominating and governance policies and proxy disclosureLead FiledWithdrawn with agreementEquality and Human Rights
2022Dollar GeneralCommit to annual disclosure of a comprehensive breakdown of the workforce by race, ethnicity, and gender according to the Equal Employment Opportunity Commission’s defined job categories (EEO-1 Report)Lead FiledWithdrawn with agreementEquality and Human Rights
2022SEI InvestmentsCommit to annual disclosure of a comprehensive breakdown of the workforce by race, ethnicity, and gender according to the Equal Employment Opportunity Commission’s defined job categories (EEO-1 Report)Lead FiledWithdrawn with agreementEquality and Human Rights
2022United Parcel ServiceReport on policies and procedures regarding direct, indirect, and grassroots lobbying; disclose payments used for lobbying and non-tax-exempt payments to trade associations and other entities to influence public policyLead Filed30% supportGovernance
2022The Walt Disney CompanyReport on policies and procedures regarding direct, indirect, and grassroots lobbying; disclose payments used for lobbying and non-tax-exempt payments to trade associations and other entities to influence public policyCo-Filed34% supportGovernance
2022Cathay General BancorpIssue an annual report describing the company’s environmental, social, and governance (ESG) policies, practices, and performance goals and metricsLead FiledWithdrawn with agreementGovernance
2022East West BancorpIssue an annual report describing the company’s environmental, social, and governance (ESG) policies, practices, and performance goals and metricsLead FiledWithdrawn with agreementGovernance
2022Green DotIssue an annual report describing the company’s environmental, social, and governance (ESG) policies, practices, and performance goals and metricsLead FiledWithdrawn with agreementGovernance

Alphabet and The Walt Disney Company shareholder resolutions co-filed by Boston Trust Walden were led by Zevin Asset Management and Mercy Investment Services, respectively.

Note: Voting support may be understated for Alphabet and UPS because they have stock with unequal voting rights (super-voting rights) that translates to significant insider control of the proxy vote. Shares with super-voting rights accounted for approximately 60% of the votes at Alphabet and 65% at UPS, according to the company annual reports as of December 31, 2021.

Season Trends

Climate Lobbying Transparency
Companies continue to play an outsized role in influencing public policymaking, which is why we ask companies to increase transparency on climate lobbying, and align their direct and indirect policy advocacy with the goals of the Paris Agreement. We are not alone — last season there was a groundswell of shareholder support for climate lobbying proposals (averaging 61% majority support), sending a clear signal to companies that investors are increasingly interested in this issue. Companies appear to be listening — of the 17 climate lobbying proposals filed this year, more than 80% were withdrawn based on negotiated agreements.10Welsh, Heidi. Sustainable Investments Institute Engagement Monitor Search. June 24, 2022. Sustainable Investments Institute. https://siinstitute.org/

As a founding member of the Climate Action 100+ investor initiative, we are among the most active asset managers on this issue. We directly engaged more than a dozen portfolio companies and filed six shareholder proposals this season. As a result of constructive engagement and company commitments, we successfully withdrew shareholder proposals with Amgen, JPMorgan Chase, Merck, Union Pacific, and UnitedHealth Group.

Heightened Focus on Racial Equity
One of the most significant trends this season was the increase in proposals focused on racial equity. Twenty-two resolutions called for an independent audit of the company’s broader impacts on civil rights and/or racial equity, more than doubling the number of proposals in 2021. Importantly, average support for these proposals rose to 45% (from 34% in 2021) and 11 proposals were withdrawn based on company commitments.11Welsh, Heidi. Sustainable Investments Institute Engagement Monitor Search. June 24, 2022. Sustainable Investments Institute. https://siinstitute.org/

The Rise of “Anti-ESG”
There was a dramatic increase in “anti-ESG” shareholder proposals this season filed by groups seeking to compel company action antithetical to the objectives of traditional shareholder proponents. While these proposals generally mirrored those of ESG-related investor requests, the accompanying rationales soliciting support often advocated for the exact opposite. For example, in a shareholder proposal seeking an audit of corporate diversity training materials, the rationale provided focused on assessing the perceived negative impact of these programs on “non-diverse” employees, rather than how they support greater diversity, equity, and inclusion. Nearly 50 “anti-ESG” proposals were filed this season, doubling the figure from 2021, yet these resolutions generally received less than 5% shareholder support.12Welsh, Heidi. Sustainable Investments Institute Engagement Monitor Search. June 24, 2022. Sustainable Investments Institute. https://siinstitute.org/

Proxy Voting

Each year Boston Trust Walden casts votes on hundreds of proxy ballots — far greater than the number of shareholder proposals we file. Proxy voting is a key element of our fiduciary duty in stewarding the assets of our clients. We take a thoughtful, principled approach when casting votes at company annual meetings, enabling us to leverage our position as shareholders to elect directors, address management proposals, and support shareholder resolutions on climate risk mitigation, inclusive and equitable human capital management, and transparent public policy advocacy, among other topics. A strong level of shareholder support — even when not a majority — can be an important driver of more sustainable business policies and practices.

The high number of environmental and social proposals filed in the 2022 season introduced a higher number of prescriptive resolutions, underscoring the immense value of Boston Trust Walden’s deliberative approach to consider each individual proposal and evaluate the merit of the request to address significant ESG risks and opportunities and foster creation of long-term shareholder value.

In 2022, we also strengthened the role proxy voting plays as an integrated component of our corporate engagement strategies. In cases where Boston Trust Walden voted against management’s recommendations related to our priority focus areas (climate, equality, and governance), we conducted additional written outreach to more than 100 companies to communicate the rationale for our vote and set the stage for future engagement. We consider this to be a critical element of the cyclical and reinforcing design of Boston Trust Walden’s active ownership strategy.

How Boston Trust Walden Voted

During the 2022 proxy season, Boston Trust Walden supported at least one shareholder proposal at 87% of the 76 annual meetings of portfolio companies. Often multiple resolutions are filed at a single annual meeting, therefore, careful consideration is required to evaluate the specific financial and ESG risk and opportunity implications of each individual proposal. As a result of Boston Trust Walden’s diligent approach to proxy voting, we supported 67% of the 227 unique shareholder proposals filed with portfolio companies. Boston Trust Walden also voted against at least one management recommendation on the ballot at 69% of company annual meetings.

In the chart below, we highlight our voting record on topic areas that appeared on multiple proxy ballots. These resolutions collectively represent 62% of the 227 shareholder proposals.

Directors
Board diversity is a critical attribute of a well-functioning board and a measure of sound corporate governance. In 2022, we voted against at least one director at 42% of companies, an increase from 20% last year. Our reasoning to vote against directors included inadequate board diversity, overboarding of directors, or demonstrable failures in ESG risk management.

Executive Compensation
Annual meetings routinely give us the opportunity to affirm company compensation programs for executives (“Say on Pay”) and provide a mechanism and impetus for constructive engagement between shareholders and directors on pay issues. Boston Trust Walden believes that executive pay programs should be fair, competitive, and create appropriate incentives to promote long-term shareholder value. Our approach led to votes against executive compensation programs at 26% of companies, a notable increase from 18% in 2021 and 10% in 2020. The impact was more pronounced among large cap companies, where we opposed over 36% of compensation packages.


About Boston Trust Walden Company

We are an independent, employee-owned firm providing investment management services to institutional investors and private wealth clients.

Related Articles

Impact Investing

3rd Quarter 2022 ESG Impact Report


Impact Investing

Annual ESG Impact Report (2021)


Impact Investing

4th Quarter 2021 ESG Impact Report


Impact Investing

3rd Quarter 2021 ESG Impact Report


Impact Investing

2nd Quarter 2021 ESG Impact Report