Toxic Neglect: Mutual Funds Opposing Shareholder Resolutions on Chemicals in Products Ignore Financial Risks to Sh... (n customers and communities. TIAA-CREF f...)

HOME >> MEDICINE >> NEWS

Toxic Neglect: Mutual Funds Opposing Shareholder Resolutions on Chemicals in Products Ignore Financial Risks to Shareholders

Date:2/28/2008

n customers and communities. TIAA-CREF funds supported all toxic chemical resolutions at their portfolio companies in 2007.

-- Second, are new proxy voting guidelines adopted by government employee pension funds in Connecticut, New York City, and Maryland that also address product stewardship issues.

-- Third, are recent revisions to the proxy voting guidelines of Institutional Shareholder Services, the largest proxy voting advisory service in the United States, recognizing the need for companies to better address toxic chemicals in their supply chains.

The report makes 3 recommendations to the mutual fund industry:

-- Adopt proxy voting guidelines similar to ISS or TIAA-CREF.

-- Follow TIAA-CREF's lead and survey their participants' opinions on responsible investing, including shareholder activism.

-- Fund trustees should explore issues of links between toxic chemicals and financial risk with their investment managers and consultants.

The report also urges investors in mutual funds to contact their funds' investor services department to ask that funds adopt proxy voting guidelines addressing these issues

Many mutual funds seem to be ignoring the business case behind shareholder resolutions seeking to reduce toxics in consumer products. What's worse, many mutual funds also seem to be voting against their shareholders' health. Funds that continue to turn a tin ear towards toxics may find themselves losing market share in the very competitive mutual fund marketplace.

For the full report, go to http://iehn.org/publications.reports.mutualfunds.php on the Web.

METHODOLOGY

IEHN's analysis of mutual fund voting draws on a database of voting behavior of 1,400 funds in 64 mutual fund families compiled by Jackie Cook of Boardmap Research, Vancouver, Canada. This is an extensive but not exhaustive
'/>"/>

0

GOOD

Page: 1 2 3 4
Related medicine news :

1. Federal toxics disclosure law could help inform public of nanotechnology risks
2. AAP Calls for an End to Toxic Tobacco Content in Hollywood Movies
3. U.S. Seeks to Limit Animal Testing of Toxic Chemicals
4. Baby Bottles Leach Toxic Chemical, According to New U.S. and Canadian Study
5. Akela Pharma receives letter from the FDA regarding its pre-clinical toxicology studies for Fentanyl TAIFUN(R)
6. Wild Childs Quit Nits Offers a Safe, Natural Alternative to Current Toxic Head Lice Products
7. A promising new approach to cadmium induced hepatoxicity: Cytoprotective effect of midkine
8. Inverness Medical Innovations to Acquire Redwood Toxicology Laboratory
9. Another smart cancer drug can have toxic effects on the heart
10. Once-Daily Exjade(R) Shown to Remove Toxic Iron From the Heart and Liver, According to Data Presented at ASH
11. ABA Conference in Chicago Provides Litigators First Look at DNA Technology That Can Save Millions in Workers Comp and Toxic Tort Cases

Post Your Comments:

Toxic Neglect: Mutual Funds Opposing Shareholder Resolutions on Chemicals in Products Ignore Financial Risks to Sh...(n customers and communities. TIAA-CREF f...),Health