Communications
During our research and selection process, there are opportunities to share our concerns with companies and the public.
We believe investors can play an important role in raising awareness of environmental concerns through direct dialogue with companies as well as government and community stakeholders. Following is a list of communications recently undertaken.
5.24.10
Endorsement of Forest Footprint Disclosure Project
A forest footprint is the total amount of deforestation caused directly or indirectly by an individual, company, and/or product. Portfolio 21 supports the Forest Footprint Disclosure Project, a new initiative created to help investors identify the valuation risk caused by the forest footprint of their portfolios and also to help companies identify and manage the forest footprints in their supply chains.
4.14.10
Endorsement of European electronics initiative
In May, the Environment Committee of the European Parliament voted on revising the restriction on hazardous substances legislation known as RoHS. The change would entail the complete elimination of all bromine and chlorine in electronic products on the market as of 2014. Supporters of the revised RoHS legislation are taking this position because of the well-established scientific data documenting the generation of brominated and chlorinated dioxins when waste is incinerated, burned in open landfills, or otherwise subjected to thermal stress. Portfolio 21 endorsed this step as progress toward removing these toxins from the environment.
3.11.10
Petition in support of Toxic Substances Control Act reform
The main federal law that is supposed to ensure the safety of chemicals has not changed in 34 years. More than 80,000 different chemicals have been produced and used in the United States. The Environmental Protection Agency has required testing on just 200 of these and only 5 chemicals have been restricted. Portfolio 21 believes that Toxic Substances Control Act reforms are needed, not only for the well-being of our planet and human health but also as a means to increase competitiveness in a global marketplace.
3.10.10
Endorsement of American Businesses for Clean Energy
It is Portfolio 21 Investments' belief that economic stability and financial prosperity require resolution of the very real threat of devastating climate change. Portfolio 21 Investments supports climate change legislation that will promote renewable energy and reduce absolute greenhouse gas emissions. For these reasons, Portfolio 21 has endorsed and become a member of American Businesses for Clean Energy.
2.22.10
Letter to SEC Chairman Mary Schapiro
Portfolio 21 Investments joined the Investor Network on Climate Risk by adding our names in support of the SEC's newly issued Guidance Regarding Disclosure Related to Climate Change. We believe that this guidance provides registrants with valuable information on how to apply meaningful disclosure requirements to the challenges posed by climate change.
2.2.10
Letter to S&P 500 companies urging the adoption of political disclosure
The U.S. Supreme Court's recent decision in Citizens United v. the Federal Election Commission removes all but a handful of restraints on corporate political spending. Portfolio 21 joined the Center for Political Accountability in urging the S&P companies that have not yet adopted political disclosure to do so. Best practices in corporate political disclosure and accountability include: 1) policies and procedures for board approval and review of corporate political spending; and 2) annual public disclosure of all corporate political expenditures, including contributions made with corporate funds and payments to trade associations and other tax-exempt organizations that are used for political purposes.
1.25.10
Letter to Senate Banking Committee
In conjunction with other members of the Social Investment Forum, Portfolio 21 is part of a group of investors supporting the creation of the Consumer Financial Protection Agency (CFPA). The CFPA will have the sole job of protecting American consumers from fraud and abuse and will ensure people get clear information about loans and other financial products from credit card companies, mortgage brokers, banks, and others. In addition, the CFPA will also reduce, restructure, and simplify existing regulatory sprawl to ensure the same rules are consistently applied and enforced against all entities providing financial products and services to consumers.
12.8.09
Letter to U.S. Senators regarding low carbon fuels
Portfolio 21 recognizes the long term risks (both financial and ecological) to companies involved with high carbon fuels, such as tar sands and liquid coal. Portfolio 21 supports legislation that will aid the promotion and innovation of low carbon fuels. Recognizing that future regulations will shape the business landscape, Portfolio 21 also supports the adoption of a Low Carbon Fuel Standard that takes into account life cycle emissions (including indirect land use effects) of fuels.
10.8.09
Investor letter to members of the U.S. Chamber of Commerce
Portfolio 21 signed an investor letter addressed to members of the U.S. Chamber of Commerce regarding the Chamber's position on climate change. The trade organization has played an antagonistic role in climate negotiations and has even challenged the science of climate change. Although numerous companies have withdrawn from the Chamber, several Portfolio 21 companies remain, including Baxter International, Hewlett Packard, Intel, and Johnson Controls. We have asked the companies to distinguish their position on climate change from that of the Chamber by withdrawing membership or making a public declaration.
8.14.09
Investor statement on the urgent need for a global agreement on climate change.
Portfolio 21 signed an investor statement that calls on world leaders to reach a strong post-2012 climate change agreement at the UN climate conference in Copenhagen in December. Credible, long-term policies are critical for investors to integrate climate change considerations into decision-making processes. The statement echoes our beliefs and calls for a multi-pronged approach to regulating carbon emissions, a global target for emissions reductions, and government support for energy efficiency and low carbon technologies.
7.20.09
Endorsement of disclosure policy proposal
As a member of the Social Investment Forum (SIF), Portfolio 21 endorses SIF's proposal to advance corporate responsibility. SIF's proposal contains two components. The first requests the Securities and Exchange Commission (SEC) to require issuers to report annually on a comprehensive, uniform set of sustainability indicators comprised of both universally applicable and industry-specific components. The second asks that the SEC issue interpretative guidance to clarify that companies are required to disclose short- and long-term sustainability risks in the Management Discussion and Analysis section of the 10-K.
7.10.09
Letter to Nucor Corporation regarding opposition to climate change bill
Portfolio 21 believes climate change is one of, if not the largest, ecological threats facing humanity and the natural world. Portfolio 21 advocates for increasing regulation on greenhouse gases globally. A recent press release by Nucor Corporation praised a Congressman for voting against the cap and trade bill in the House of Representatives in June 2009 and urged Senators to vote against the bill when it is before the Senate. Portfolio 21 wrote to Nucor to question the company's motivations and request further clarification on the kind of climate change legislation the company would support.
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