Will the SEC End Social Issue Proxy Resolutions?
For a couple of generations, commentators have described SRI as a three-legged stool:
• shareholder advocacy,
• screening and
• community investing
In short order, the Securities & Exchange Commission (SEC) may saw off the shareholder advocacy leg.
The SEC held two and a half days of ‘roundtables’ in May. They appeared to lay the groundwork for regulations limiting or eliminating the types of social issue proxy resolutions SRI has relied upon since Project GM in the early 1970s.
Retaining shareholder proposals as we’ve known them will require rapidly mobilising a broad coalition including money managers, large institutional investors not normally associated with SRI and companies. The time is very short. The stakes could not be higher.
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For the full article by Peter D. Kinder, click here.
Great post. Highly relevant today
Comment by Emils — July 18, 2007 @ 2:40 pm
[…] proposals’, as I wrote a few weeks ago, is a phrase apparently invented by Leo E. Strine, Jr. Strine is a lecturer at Harvard Law School […]
Pingback by KLD BLOG » No ‘Precatory’ Proposals, I Pray Thee — July 25, 2007 @ 2:07 pm