2018 Filing Deadlines

Here are links to documents with the 2018 Corporate Resolution Filing Deadlines (XLSX) (PDF).

Please, remember that, by the close of business on or before the company’s filing date, mail or overnight to the Corporate Secretary:

    • Your cover letter
    • The resolution
    • Verification of your stock ownership

Ideally, send the letter via FedEx, UPS or other sign upon-receipt delivery, so that there is a record of who at the company signed to receive your letter. You should retain this receipt in the rare case the company argues your letter did not arrive by the deadline. For more information, visit ICCR’s helpful resource: “How to File a Resolution.”

“Well done, good and faithful servant”

With sadness, we share the news that Fr. Mike Crosby, O.F.M., Cap. has died. In December of 2016, a CT scan and subsequent testing resulted in a diagnosis of cancer of the esophagus. In April, just after Easter, Fr. Mike underwent surgery after a course of radiation treatment and chemotherapy. While the initial prognosis looked positive, another CT scan in June revealed that the cancer had returned with force, and Fr. Mike entered hospice care in Detroit early that month.

Michael Crosby died on 5 August 2017 at the age of 77, after suffering with cancer.

Michael Crosby was born on 16 February 1940, the son of Hugh and Blanche Crosby of Fond du Lac, Wisconsin. He was invested in the Capuchin Order on 31 August 1959, perpetually professed his vows on 1 September 1963, and was ordained on 6 October 1966.

A writer and speaker, Michael was also the executive director of the Seventh Generation Interfaith Coalition for Responsible Investment, which focuses on social ministry and activism through investment. Michael did pastoral ministry at St. Elizabeth Parish (now St. Martin de Porres Parish) in Milwaukee from 1968-1973. From 1973 until his death, Michael ministered in the area of corporate responsibility. Additionally, he was a collaborator for the canonization cause of Capuchin friar Solanus Casey.

Michael is survived by his brother Daniel (also a Capuchin friar), as well as his many Capuchin brothers with whom he lived, prayed and ministered during the past 58 years.

Visitation:
Thurs., Aug 10: St. Bonaventure Monastery, Detroit, 5-8 pm,
with service at 7 pm.

Friday, Aug 11: St. Francis Parish, Milwaukee, 5-8 pm, with service at 7 pm

Liturgy of Christian Burial:
Sat., Aug 12, St. Lawrence Seminary, Mt. Calvary WI; 10:30 am, with viewing beforehand.

Burial in Capuchin cemetery, Mt. Calvary WI

Fr. Mike’s reflections, and those of his brother Fr. Dan, are found on a Caring Bridge site.

The truth about socially responsible investing

Frank Sherman, Executive Director of Seventh Generation Interfaith

CNBC reviewed years of Morningstar data on the performance of socially responsible funds versus traditional funds and benchmarks and found that there is no significant performance drag. Similar research done in 2015 using meta-analysis covering 85 studies reached a similar conclusion: ESG funds result in neither a big cost, or financial benefit, to investors. However, they found that funds designed to exclude certain “sin” stocks or sectors, such as tobacco, alcohol or guns — don’t tend to measure up. “The ESG performance of companies appears to be something that can be used to generate value in a portfolio; traditional exclusion can be a drag,” said Jon Hale, head of sustainability research at Morningstar.

Todd Rosenbluth, director of mutual fund and ETF research at CFRA, commented that  “getting comparable performance and feeling better about socially responsible investments is a win for investors.” This confirms the view that you can do good while doing well financially.

You can find tools and research on ESG funds on our Resource webpage.

Businesses and Investors Need to Act on Climate Now

Alicia Seiger writes in The Stanford Social Innovation Review:

The business case for acting on climate change has never been stronger, and the need to act has never been more urgent. For the past three years, worldwide carbon emissions from fossil fuels have stayed flat while gross domestic product (GDP) has grown, demonstrating that emissions and economic growth aren’t inextricably linked. Decoupling emissions and growth is just the first step. To stay within the carbon budget for 2 degrees Celsius warming—and avoid the most catastrophic impacts of climate change—global emissions have to start falling by 2020. While the President of the largest economy in the world blows headwinds at progress, business leaders and investors must act to bend the emissions curve.

(More)

Greenwashing a ‘Very Serious Issue,’ Leads to Poor Decisions, Says CEO of GRI

As reported by Jennifer Hermes in Environmental Leader, “Ninety percent of the 250 largest companies in the world are reporting sustainability performance, but greenwashing is “a very serious issue,” says the new chief executive of the Global Reporting Initiative (GRI), Tim Mohin. In the early days of sustainability reporting, greenwashing could result in bad PR and a loss of consumer confidence. But that is no longer the worst that can happen….”

(More)

ICCR Statement of Support for new Accord for Fire and Building Safety in Bangladesh

As investors shareholders engaged in dialogues with retailers, we are heartened by last week’s announcement that global unions and companies signed an agreement to extend the Accord for Fire and Building Safety for an additional three year period in force after May 2018. This is great news!  Investors, including those from SGI, have played an important role in supporting the Accord, assessing its progress and recommending areas to be strengthened going forward.

ICCR’s statement applauding the agreement is found here.

SGI members signed onto the April 2017 investor statement on the 4th Anniversary of the Rana Plaza Tragedy.  Our recommendations included:

  • Accord companies and trade union representatives agree to extend the Accord for the period of time needed to remediate systemic issues that still threaten worker safety and livelihood.
  • Broaden the current scope of the Accord to include; i) a focus on freedom of association and collective bargaining and integrate this into the Complaints Mechanism process and ii) additional parts of the supply chain where similar risks exist such as washing, dying, fabrics, leather and home textiles.

The new agreement responds positively to these recommendations.  Over the past four years, investor activism has made a difference in providing support and urging further action to make sure that garment factories are made safer now and in the future.