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Corporate Governance / Director and CEO compensation


NEWS STORY: CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Financial Stability Board to Review Governance Principles
The international body, formed to promote financial stability following the global financial crisis, seeks to determine how its member jurisdictions have implemented the G20/OECD Principles of Corporate Governance.

NEWS STORY: SHAREOWNER ACTION | CORPORATE GOVERNANCE | MUTUAL FUNDS
BlackRock Shareowners Vote on CEO Pay
The Stephen M. Silberstein Revocable Trust files a shareowner resolution with the mutual funds giant, requesting that its proxy voting practices reflect a link between executive compensation and corporate performance.

INTERVIEW: SUSTAINABLE INVESTMENT | FINANCIAL INDUSTRY
Rewriting the Rules of the American Economy
Nobel Economist Joseph Stiglitz and Senator Elizabeth Warren speak at the Roosevelt Institute about the pressing need to rewrite the rules governing the economy in order to lessen inequality. Second of a two-part series.

NEWS STORY: SUSTAINABLE INVESTMENT | SHAREOWNER ACTION
ICCR Publishes 2015 Proxy Resolutions and Voting Guide
Climate change and wealth inequality lead members of the the Interfaith Center on Corporate Responsibility to increase for the third year in a row the number of shareowner resolutions filed. Second of a two-part series.

NEWS STORY: SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
New Controls for Old Risks at JPMorgan Chase
In response to shareowner pressure, the bank endorses the Shareholder-Director Exchange as a means of improving the quality of engagement between investors and board directors. Second of a two-part series.

NEWS STORY: SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
JPMorgan Publishes Governance Report in Return for Resolution Withdrawal
Members of the Interfaith Center on Corporate Responsibility withdraw a key corporate governance resolution after the financial institution agrees to publish a report detailing its efforts at governance reform. First of a two-part series.

NEWS STORY: SHAREOWNER ACTION | CORPORATE GOVERNANCE | EXECUTIVE COMPENSATION
As You Sow Launches Shareowner Initiative on Executive Compensation
With the ratio of CEO to average employee pay at 300:1 and increasing, As You Sow announced an Executive Compensation initiative to encourage shareowners to link executive pay to meaningful performance goals.

NEWS STORY: SHAREOWNER ACTION | CORPORATE GOVERNANCE
Shareowner Rights Under Attack
Abetted by comments by an SEC commissioner, the US Chamber of Commerce petitions to keep shareowner resolutions from returning to proxy ballots.

NEWS STORY: SUSTAINABLE INVESTMENT | ENVIRONMENTAL ISSUES
Third National Climate Assessment Published
In its new report, the US Global Change Research Program asserts that the effects of climate change have already become a present day concern, and announces the launch of a website to help Americans receive reliable scientific information.

NEWS STORY: SHAREOWNER ACTION | CORPORATE GOVERNANCE | POLITICAL SPENDING
Resolution Calls for Transparency in Lobbying Expenditures by Google
Filed by Walden Asset Management and other sustainable investment organizations, the resolution documents a 250% increase in lobbying expenditures by Google in the last five years. Part one of a two-part series.

NEWS STORY: SHAREOWNER ACTION | FINANCIAL INDUSTRY
ICCR Members Challenge Banks on Ethics and Emissions
A perusal of shareowner resolutions filed by members thus far reveals requests that banks report on emissions in their lending portfolios and on how to ensure an end to unethical business activities.

NEWS STORY: SHAREOWNER ACTION | EXECUTIVE COMPENSATION
How Walmart Can Pay Employees a Living Wage
Just in time for the holiday season, Demos explains that wage increases instead of stock buybacks can provide living wages for Walmart’s employees without resorting to price increases.

NEWS BRIEF: SHAREOWNER ACTION | CORPORATE GOVERNANCE | EXECUTIVE COMPENSATION
Sustainable Investors Applaud SEC Rules on Executive Compensation
A proposed amendment to existing rule will require corporations to compare CEO pay with the average compensation of all other employees.

NEWS STORY: SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
High Profile Proxy Season Reveals the Plumbing
A proxy distribution service abruptly reverses policy and refuses shareowner access to preliminary vote totals at JPMorgan Chase, and Institutional Shareholder Services settles charges that an employee sold voting data.

NEWS BRIEF: SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Shareowners Renew Call for Separation of CEO and Chair at JP Morgan Chase
The American Federation of State, County & Municipal Employees and a coalition of institutional co-filers will return to the banking giant's annual general meeting this year with a resolution that gained 40% of shareowner support in 2012.

NEWS STORY: SHAREOWNER ACTION | CORPORATE REPORTING
ICCR Publishes 2013 Proxy Resolutions and Voting Guide
The Interfaith Center on Corporate Responsibility reports that its members have filed 180 shareowner resolutions and engaged in 225 corporate dialogues this proxy season.

NEWS STORY: SUSTAINABLE INVESTMENT | CORPORATE REPORTING
Corporate Knights Publishes Global 100 List of Leading Sustainable Corporations
The Belgian metal recycling company Umicore tops the ninth annual list of sustainable large cap corporations, but the list also includes Enbridge, the Canadian operator of pipelines carrying oil from the controversial tar sands.

NEWS BRIEF: SHARREOWNER ACTION | CORPORATE REPORTING
SEC Chairman Schapiro to Step Down
As Chairman of the Securities and Exchange Commission since early 2009, Mary Schapiro dealt with the aftermath of the financial crisis and the implementation of new regulations mandated by Dodd-Frank.

NEWS STORY: SUSTAINABLE INVESTMENT
US SIF Publishes Biennial Sustainable Investment Trends Report
The 2012 Trends Report notes a total of $3.74 trillion in assets allocated to sustainable investment, a 22% increase over a two-year period.

NEWS STORY: SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Investors Urge Citigroup Board to Consider Breakup of Too Big to Fail Bank
Trillium Asset Management and AFSCME Employees Pension Plan file a shareowner resolution with Citigroup asking its board to explore a separation of one or more of its business units.

NEWS BRIEF: SUSTAINABLE INVESTMENT | EMERGING MARKETS
Calvert Launches Emerging Markets Fund
The Calvert Emerging Markets Equity Fund uses the firm's environmental, social, and corporate governance criteria in determining the components of a portfolio investing in the fastest-growing segment of the global economy.

NEWS BRIEF: SOCIAL ISSUES | HUMAN RIGHTS | FOOD INDUSTRY
Food and Agriculture Industry Lags in Assuring Worker Equity
A report by Sustainalytics and Tellus Institute describes workers' rights as less of a priority for companies in the sector than consumer health, environmental impact, and animal welfare.

NEWS STORY: SHAREOWNER ACTION | CORPORATE GOVERNANCE | MEDIA COMPANIES
Independent Shareowners Want Murdoch out as Chairman of News Corp
Resolutions calling for separation of Chairperson and CEO, and end to dual-class stock structure, gain support of two-thirds of independent shareowners at media company's annual meeting.

NEWS BRIEF: SUSTAINABLE INVESTMENT | INSTITUTIONAL INVESTORS
Investors in UK Celebrate National Ethical Investment Week
A survey conducted for the occasion reveals that almost half of adults with investments want large pension plans to sign onto the UK Stewardship Code, and research from EIRIS finds $18 billion invested in green and ethical retail funds.

NEWS BRIEF: SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Task Force Files Lawsuit against JPMorgan Chase
The Residential Mortgage-Backed Securities Working Group, a state-federal task force, announces its first legal action, charging the bank for fraudulent misrepresentations of mortgage­-backed securities by Bear Stearns & Co.

NEWS BRIEF: SHAREOWNER ACTION | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Bank of America Settles Shareowner Lawsuit for $2.43 billion
The bank's 2008 acquisition of Merrill Lynch $20 billion preceded disclosure of $27.6 billion in losses, and led to lawsuit by pension funds charging the bank with making false or misleading statements.

NEWS BRIEF: SUSTAINABLE INVESTMENT | CORPORATE GOVERNANCE | STOCK INDEXES
GMI Licenses Research for Corporate Governance Indexes
The firm's agreement with the Global Index Group, which will create the first indexes focusing on corporate governance performance, is commended by governance advocate James McRitchie as a very important development for investors.

NEWS BRIEF: ENVIRONMENTAL ISSUES | CORPORATE GOVERNANCE
GMI and Trucost Form Partnership
The strategic partnership provides for environmental research by Trucost to be incorporated into GMI's analysis of the corporate governance performance of companies.

NEWS STORY: SUSTAINABLE INVESTMENT | INSTITUTIONA INVESTORS
Muhammad Yunus, Father of Microcredit and Nobel Peace Prize Recipient, to Address SRI Conference
The founder of the Grameen Bank will be the keynote speaker at October's SRI Conference on Sustainable, Responsible, Impact Investing, which will also feature author Deepak Chopra and Robert F. Kennedy Jr. Second of a two-part series.

NEWS BRIEF: SHAREOWNER ENGAGEMENT | INSTITUTIONAL INVESTORS
PRI Signatories Prioritize ESG Issues for Engagement
A survey of frequent users of the PRI Clearinghouse indicates that executive compensation, climate change, and labor standards in corporate supply chains will be the top areas of engagement for institutional investors during the coming year.

INTERVIEW: SUSTAINABLE INVESTMENT | CORPORATE GOVERNANCE| EMERGING MARKETS
Emerging Markets ESG Updates Database of Contacts
SocialFunds.com talks with Geoffrey Mazullo, whose twenty years of involvement with environmental, social, and corporate governance issues in emerging markets have provided him with a wealth of data and contacts compiled in a unique resource.

NEWS STORY: SHAREOWNER ACTION | CORPORATE GOVERNANCE | MEDIA COMPANIES
Church of England Sells its Shares in News Corp.
A year of engagement following the phone hacking and bribery scandal has failed to produce a commitment by the media giant to improve its corporate governance, and the Church responds to the lack of progress with divestment.

NEWS STORY: SHAREOWNER ACTION | CORPORATE GOVERNANCE | INDIVIDUAL INVESTORS
Proxy Access Still Key to Changing Corporate Behavior
SocialFunds.com talks with James McRitchie of CorpGov.net about corporate governance shareowner proposals and the case for improved proxy access for individual investors.

NEWS BRIEF: SHAREOWNER ACTION | CORPORATE GOVERNANCE | INSTITUTIONAL INVESTORS
Emphasis on Engagement Seconded by Mainstream
A report from Ernst & Young analyzing the 2012 proxy season agrees with observations by sustainable investment organizations that increased shareowner engagement represents the most dramatic development.

NEWS BRIEF: CORPORATE GOVERNANCE | INSTITUTIONAL INVESTORS
Institutional Investors: Part of the Problem or Part of the Solution?
Authors Ben Heineman and Stephen Davis argue in a working paper that many institutional investors lag behind corporations in transparency, and call for a national database on the behavior of institutions. Second of a two-part series.

NEWS BRIEF: SHAREOWNER ACTION | CORPORATE GOVERNANCE | INSTITUTIONAL INVESTORS
What Good Are Shareowners?
An analysis published in the current Harvard Business Review argues that the rise of short-termism in the markets, and poor communications between management and shareowners, require engagement by diverse long-term stakeholders. First of a two-part series.

NEWS BRIEF: SHAREOWNER ACTION | CORPORATE GOVERNANCE
Separating CEO and Chair Provides Financial Benefits
A report from GMI Ratings finds that companies with a combined CEO and chair pay far more compensation for the positions, are more likely to pursue aggressive accounting practices, and are twice as likely to receive a failing grade for environmental, social, and corporate governance performance.

NEWS STORY: SHAREOWNER ACTION | ENVIRONMENTAL ISSUES | OIL AND GAS INDUSTRY
Shareowners Ask SEC to Investigate Chevron
Three sustainable investment organizations say that the company's management appears to be covering up the risks associated with an $18 billion legal judgment against it for environmental damage in Ecuador. Second of a two-part series.

NEWS BRIEF: SHAREOWNER ACTION | CORPORATE GOVERNANCE | EXECUTIVE COMPENSATION | OIL AND GAS INDUSTRY
Two-thirds of Cairn Energy Shareowners Reject Say-on-Pay Proposal
The vote at the UK-based energy exploration company comes after Business Secretary Vince Cable proposes that shareowner votes on executive compensation be binding.

NEWS BRIEF: SHAREOWNER ACTION | CORPORATE GOVERNANCE | OIL AND GAS INDUSTRY
Chesapeake Energy Agrees to Separation of Chair and CEO
The controversial oil and gas company agrees to a key corporate governance reform after widespread criticism of an arrangement allowing CEO Aubrey McClendon to borrow more than a billion dollars from its treasury.

NEWS BRIEF: SUSTAINABLE DEVELOPMENT | CORPORATE REPORTING
EIRIS Reports on Sustainability Practices of Largest Global Companies
Companies in the US and Asia lag behind their peers in Europe, while significant differences persist among corporate approaches to sustainability.

NEWS STORY: SUSTAINABLE INVESTMENT | SHAREOWNER ACTION | CORPORATE GOVERNANCE
Clock Is Ticking While Corporate Sustainability Lags
A report from Ceres and Sustainalytics identifies a small number of US corporations leading sustainability efforts, but more decisive action is required to embed sustainability by 2020. First of a two-part series.

NEWS STORY: SHAREOWNER ACTION | FINANCIAL INDUSTRY | EXECUTIVE COMPENSATION
Power of the Proxy Confirmed at Citigroup
In the aftermath of the shareowner vote against Citigroup's executive compensation package, Mark Regier of Everence Financial talks with SocialFunds.com about the evolution of say-on-pay.

NEWS BRIEF: SHAREOWNER ACTION | EXECUTIVE COMPENSATION | FINANCIAL INDUSTRY
Shareowners Vote Down Citigroup Pay Package
Fifty-five percent of Citigroup's shareowners vote against the executive compensation package proposed by management, marking the first time that shareowners have done so at a big bank.

NEWS BRIEF: SHAREOWNER ACTION | CORPORATE GOVERNANCE | INSTITUTIONAL INVESTORS
SEC Reconvenes Investor Advisory Committee
The Committee, which was formed in 2009 and terminated after passage of the Dodd-Frank bill, again includes representatives of the sustainable investment industry.

NEWS STORY: SUSTAINABLE INVESTMENT | CORPORATE REPORTING | RENEWABLE ENERGY TECHNOLOGIES
Solar Industry Maturing Despite Lack of Subsidies
A report from As You Sow details examples of best practice in environmental, social, and corporate governance considerations by solar companies, and provides a benchmark for investors to track sustainable developments in the industry.

NEWS STORY: SHAREOWNER ACTION | CORPORATE GOVERNANCE | MEDIA COMPANIES
Shareowner Resolution Calls for Independent Board Chair at News Corporation
Christian Brothers Investment Services resubmits proposal introduced at the media giant's annual meeting last October, citing the company's inaction in implementing reforms in the wake of phone hacking scandal.

NEWS BRIEF: SHAREOWNER ACTION | CORPROATE GOVERNANCE | PROXY ACCESS
New York City Pension Funds File Corporate Governance Resolutions at 13 Companies
Shareowners request that Chesapeake Energy and Nabors Industries permit proxy access, and additional resolutions address board declassification, an independent board chair, and a majority voting standard.

NEWS STORY: SHAREOWNER ACTION | CORPORATE GOVERNANCE | INFORMATION TECHNOLOGY
CalSTRS to Facebook: More Women on Board
The pension fund's Director of Corporate Governance writes to Mark Zuckerberg, expressing disappointment in the lack of diversity on Facebook's board of directors.

NEWS STORY: SHAREOWNER ACTION | PROXY ACCESS
ICCR Publishes 2012 Proxy Resolutions and Voting Guide
The Guide reveals a focus by members of the Interfaith Center on Corporate Responsibility on social issues and corporate engagement.

NEWS BRIEF: SHAREOWNER ACTION | CORPORATE GOVERNANCE | EXECUTIVE COMPENSATION
CEO Pay at S&P 500 Companies Up 37% in 2010
Increases in CEO pay are far greater than those of share prices, GovernanceMetrics International finds, and three of the highest paid executives are with companies whose shareowners have expressed dissatisfaction over pay packages.

NEWS BRIEF: SHAREOWNER ACTION | CORPORATE GOVERNANCE | EXECUTIVE COMPENSATION
Shareowners Support Annual Say-on-Pay Votes
An analysis by GovernanceMetrics International finds that while 42% of companies recommended a shareowner vote on executive compensation every three years, 72% of shareowners voted in favor of annual votes.

NEWS BRIEF: SHAREOWNER ACTION | CORPORATE GOVERNANCE | EXECUTIVE COMPENSATION
42 S&P500 Companies at Risk for Failed Say-on-Pay in 2012
An analysis by GovernanceMetrics International finds that 157 companies in the Russell 3000 also failed to gain 70% of shareowner support, and recommends that those companies engage with shareowners on executive compensation.

NEWS STORY: FILM REVIEW | CORPORATE GOVERNANCE | FINANCIAL INDUSTRY
Film Review: Margin Call
First-time director J.C. Chandor's film provides a fictionalized version of Lehman Brothers awakening to the fact that inadequate risk management had launched the financial crisis.

NEWS BRIEF: SHAREOWNER ACTION | CORPORATE GOVERNANCE | PROXY ACCESS
Two Shareowner Proposals Request Proxy Access
The proposals are based on a Model Shareowner Proposal for Proxy Access, developed by the United States Proxy Exchange, which requests shareowner votes under SEC Rule 14a-8.

NEWS STORY: SHAREOWNER ACTION | MUTUAL FUNDS
Support by Mutual Funds for Sustainability Proposals Increases, but is it Happening Quickly Enough?
SocialFunds.com talks with Jackie Cook of Fund Votes about the results of voting by mutual funds on shareowner proposals in 2011 relating to sustainability.

NEWS BRIEF: SHAREOWNER ACTION | CORPORATE GOVERNANCE | EXECUTIVE COMPENSATION
Executive Compensation Policies Slightly Better After Say on Pay Regulation
GMI analyzes executive compensation packages at S&P 500 companies, and finds incremental improvement as well as a correlation between ratings and proxy votes.

NEWS BRIEF: SHAREOWNER ACTION | PROXY ADVISORY SERVICES
ISS Seeks Investor Input for Revised Proxy Voting Policies
Institutional Shareholder Services says the comment period for the 2012 update of its proxy voting policies will run through November 7th.

NEWS STORY: SHAREOWNER ACTION | CORPORATE GOVERNANCE
News Corp, Nine Other Firms Singled out for Poor Governance
GMI Risk List highlights ten companies with poor governance issues and other ESG-related concerns.

NEWS BRIEF: SHAREOWNER ACTION | CORPORATE GOVERNANCE | EXECUTIVE COMPENSATION
Council of Institutional Investors Analyzes Say-on-Pay Proposals
A report from the CII finds that pay for performance issues were cited most often by institutional investors as the reason for voting against management proposals.

NEWS BRIEF: SHAREOWNER ACTION | PROXY ACCESS | INSTITUTIONAL INVESTORS
Investors Continue to Press SEC on Proxy Access
Institutional investors with $2 trillion in assets urge the Securities and Exchange Commission to issue regulations allowing proxy access.

NEWS STORY: CORPORATE GOVERNANCE | BOARD DIVERSITY | PROXY ACCESS | CORPORATE REPORTING
Sustainable Investors Respond to European Corporate Governance Report
Eurosif and UKSIF submit responses to the European Commission's green paper of corporate governance, calling for measures to improve board oversight, corporate reporting, and shareowner engagement.

NEWS BRIEF: SUSTAINABLE INVESTMENT | FINANCIAL INDUSTRY
TIAA-CREF Publishes 2011 Socially Responsible Investing Annual Report
The report describes the accomplishments of the $470 billion financial services company in promoting sustainable investment according to environmental, social, and corporate governance (ESG) criteria.

NEWS STORY: SHAREOWNER ACTION | CORPORATE GOVERNANCE | EXECUTIVE COMPENSATION
CEO Compensation Rose Sharply in 2010
GovernanceMetrics International reports that annual compensation at S&P 500 companies increased by 35% in 2010, and the United States Proxy Exchange issues draft guidelines to help shareowners vote their say-on-pay proxies.

NEWS BRIEF: SHAREOWNER ACTION | CORPORATE GOVERNANCE | EXECUTIVE COMPENSATION
Overall CEO Pay Saw Marginal Decline in 2009
The latest in a series of annual reports by The Corporate Library on executive compensation finds the greatest decrease in tax gross-ups, or payment by companies of taxes on compensation packages.

NEWS BRIEF: EXCESSIVE CEO COMPENSATION | SAY ON PAY
Goldman Sachs to Allow Shareowner Advisory Vote on Executive Compensation
In the wake of an uproar over its plans to award $23 billion in bonuses, TARP recipient also announces that Management Committee will receive equity Shares at Risk instead of cash.

INTERVIEW:
Bob Monks: ExxonMobil Exemplifies Corpocracy
SocialFunds writers Bill Baue and Francesca Rheannon interview corporate governance advocate Bob Monks about his shareholder activism at ExxonMobil and his new book, Corpocracy.

NEWS STORY: SHAREHOLDER ACTIVISM
Executive Pay Weighs Heavy with Shareholders
With more than 90 "say on pay" resolutions this year, shareholders continue to push for advisory votes on executive compensation.

NEWS STORY: SHAREHOLDER ACTIVISM: EXECUTIVE COMPENSATION
Executive Compensation Consultants: The Next Battlefield for Say on Pay
Investors ask the SEC to mandate disclosure of a company's use of executive compensation consultants and if the consultants are used in other areas of the business as well.

NEWS BRIEF: CORPORATE RESPONSIBILITY
Responsible Businesses are More Competitive
IBM study reports businesses with corporate social responsibility as part of their core plans have an advantage.

NEWS STORY:
Shareholders One Step Closer to Having a "Say on Pay"
The US House of Representatives votes to give shareholders an advisory non-binding vote on executive compensation.

NEWS STORY:
If You Tag It, It Will Be Used: Sustainability Reporting in XBRL
Weeks after the latest SEC roundtable on interactive data, the Global Reporting Initiative releases a draft taxonomy of XBRL tags mapped to G3 Sustainability Reporting Guidelines.

NEWS STORY:
TIAA-CREF Ups the Ante With New Stance on ESG Issues
TIAA-CREF’s new policy statement and proxy voting guidelines address social, environmental and governance issues, moving SRI arguments into the mainstream.

NEWS STORY:
Aflac Shareholders Get Say on Executive Pay
Aflac becomes the first major US company to offer shareholders a non-binding vote on executive compensation packages.

NEWS STORY:
"Say on Pay" Highlighted in the Upcoming 2007 Proxy Season
Institutional investors band together, asking for the right to weigh in on top executive compensation packages.

NEWS STORY:
Study Links Options Backdating to Corporate Governance Weaknesses
Harvard Professor Lucian Bebchuk and colleagues use a new method of identifying CEO and outside director manipulation of stock option timing and assert correlations to governance problems.

NEWS STORY:
Dear Sir or Madam: Stakeholder Letters Push Corporate Sustainability Improvements
Letters remains an important mode for addressing environmental, social, and governance issues, encompassing a broader swath than simply communication between shareowners and companies.

NEWS STORY:
Blue Funds to Invest in Companies that Support Democrats
The two new funds seek to capitalize on research that finds that Democrat-supporting companies significantly outperform Republican-supporting companies.

NEWS STORY:
The Ratio of Greed: Report Pierces Numbing Numbers of Executive Excess
United for a Fair Economy and Institute for Policy Studies publish 13th annual study examining CEO compensation, which continues its upward trend while worker pay stagnates.

NEWS STORY:
Shareowners Push TimeWarner on Movies Depicting Smoking, Recycled Paper, and Pay Disparity
Part two of this two-part article documents steps forward made by TimeWarner, as well as areas where shareowner activists continue to press for progress.

NEWS STORY:
Shareowner Activists See Progress at TimeWarner, and Room for Improvement
In part one of this two-part article, activists applaud the company on its first corporate social responsibility report while continuing to push on environmental, social, and governance issues.

NEWS STORY:
Correlating Proxy Advisory Firm Recommendations with Voting Results
A look at the link between recommendations by Institutional Shareholder Services, Glass Lewis, and PROXYGovernance and voting results at Citigroup, Chevron, ExxonMobil, and Wal-Mart.

NEWS STORY:
Corporate Shenanigans: Companies Dis Shareowners at Annual Meetings
Home Depot exemplifies a phenomenon of companies manipulating annual meeting protocols to disempower shareowners, following in the footsteps of Weyerhaeuser, Whole Foods, and others.

NEWS STORY:
Applying an Ant Colony Mentality to Extra-Financial Factors and Enhanced Analytics
A report from the Universities Superannuation Scheme, a member of the Enhanced Analytics Initiative, calls for diverse, community-wide advocacy of factoring extra-financials into research.

NEWS STORY:
Shareholders One Step Closer to Having a “Say on Pay”
The US House of Representatives votes to give shareholders an advisory non-binding vote on executive compensation.

NEWS STORY:
Voting Recommendations on Shareowner Resolutions Vary Widely at Proxy Advisory Firms
Part one of this two-part article compares Institutional Shareholder Services, Glass Lewis, and PROXY Governance vote recommendations on resolutions at Citigroup and Chevron.

NEWS STORY:
Resolution Withdrawals Signal Success in Shareowner Advocacy Early in 2006 Proxy Season
Part one of this two-part article examines withdrawal of resolutions on climate change, sexual orientation nondiscrimination, political contributions, and HIV/AIDS policies.

BOOK REVIEW:
Book Review: Economic Apartheid in America: A Primer on Economic Inequality & Insecurity
The revised and updated edition of this text (originally published in 2000) examines how excessive executive compensation contributes to the widening gulf between rich and poor.

NEWS STORY:
Wal-Mart Faces Host of Shareowner Resolutions, From Union-Busting to Sustainability Reporting
The broad range of resolutions suggests that the sustainability commitments announced by Wal-Mart last year did not convince shareowners that the company has solved all its challenges.

BOOK REVIEW:
Book Review--The False Promise of Pay for Performance: Embracing a Positive Model of the Company Executive
According to James McConvill, the problem with perverse executive compensation is not managerial power, as an earlier book suggests, but rather the very pay for performance system.

NEWS STORY:
Labor Day List Celebrates Corporate-Union Collaboration
The inaugural list launched by American Rights at Work spotlights positive relationships between companies and their workers.

NEWS STORY:
War Millionaires: Defense Contractor CEO Pay Up 200 Percent Since 9/11
The ratio between CEO and worker pay across the market climbs to 431 : 1, up from 301 : 1 last year, according to a new CEO pay study from United for a Fair Economy and the Institute for Policy Studies.

NEWS STORY:
The Lowdown from Corporate Governance and Proxy Advisory Experts on ISS-IRRC Merger
Implications of the buyout of the Investor Responsibility Research Center by Institutional Shareholder Services on social research and competition in proxy advisory services.

NEWS STORY:
Carrots and Sweets: Tying Executive Remuneration to Extra-Financial Performance Indicators
A report from Henderson Global Investors and Universities Superannuation Scheme finds incentives for extra-financial performance tied to short-term instead of long-term indicators.

NEWS STORY:
Reigning In Raines on Bonuses Based on Earnings Before Restatements
With restatements of financial earnings reaching record levels in 2004, the question arises whether executive bonuses based on incorrect earnings statements should be recalculated.

NEWS STORY:
New Indexes Seek to Link Corporate Governance and Diversity to Financial Performance
A DiversityInc index and joint FTSE-ISS indexes try to answer if diversity and corporate governance, respectively, correlate to financial outperformance.

NEWS STORY:
ICCR Spends World AIDS Day Preparing Shareowner Resolutions for Upcoming Proxy Season
This year's resolution has expanded to cover operations in India and China as well as Africa, and ICCR is campaigning for pharma companies to provide better access to medicines for children.

NEWS STORY:
Book Inspires Symposium on How Governance Codifies Excessive Executive Pay
The book is written by Harvard Law Professor Lucian Bebchuk and Berkeley Law Professor Jesse Fried, and the Symposium is hosted by Columbia Law School.

NEWS STORY:
How Do SRI Firms Walk Their Talk When It Comes to Corporate Social Responsibility?
Socially responsible investment firms take particulars such as scale and sector into account in their CSR expectations at the companies they own and in their own operations.

NEWS STORY:
The Value of Transformation: The Catholic Equity Fund
After transforming itself from three actively managed funds into one index fund, the Catholic Equity Fund works to transform corporate practice through shareowner advocacy.

NEWS STORY:
House Votes to Kill Mandatory Expensing of All Stock Options, Sending Bill to Senate
The House's passage of the Stock Option Accounting Reform Act reverses Sarbanes-Oxley's commitment to protect independence of FASB as the arbiter of accounting rules.

NEWS STORY:
Governance Overhaul: An Interview with Tyco Corporate Governance VP Eric Pillmore
Mr. Pillmore speaks candidly with SocialFunds.com about rebuilding reputation and trust, engaging stakeholders, and increasing transparency.

BOOK REVIEW:
Book Review--The Best Business Stories of the Year: 2004 Edition
Ethics, disclosure, labor relations, executive compensation, and insider trading are among the topics related to socially responsible investment in this collection of business articles.

NEWS STORY:
Sarbanes-Oxley Fails to Kill Corporate Insider Loans, Some of Which Pay Posthumously
A new study from The Corporate Library documents the prevalence of insider loans, and the persistence of benefits beyond the grave.

NEWS STORY:
Top Five Social Investing News Stories of 2003
The major social investing news stories of the year include SEC reforms, stock exchanges mandating social, environmental, and corporate governance practices, and climate risk assessment defined as a fiduciary duty.

NEWS STORY:
Board Pay, Board Say
Two new reports assess the past year for directors of corporate boards, examining issues such as director pay, workload, and independence.

NEWS STORY:
Watchdog Fund Established to Take a Bite Out of Corporate Governance Malfeasance
The new investment vehicle is part mutual fund, part shareowner advocate, and part hedge fund.

NEWS STORY:
Resolutions Ask TIAA-CREF to Practice the Good Corporate Governance It Preaches
TIAA-CREF faces several resolutions asking it to reconcile its strong corporate governance advocacy with what filers describe as its own weak governance policies.

NEWS STORY:
ISIS Product Offers Shareowner Action without Portfolio Management
Institutional investors can use ISIS's Responsible Engagement Overlay to promote better social and environmental performance at companies through dialogue, proxy voting, shareowner resolution filing, and research.

NEWS STORY:
Identifying the Effects of Interlocking Directorships on Board Independence
A new report from The Corporate Library uncovers ways interlocking directorships impede board independence, though shareowner activists could leverage this interlock to push corporate governance reform.

NEWS STORY:
Sustainable Computer Producers Perform Better than Less Sustainable Counterparts
Innovest adds social considerations to its environmental assessment in its recent computer industry report, and sustainability still outperforms business-as-usual.

BOOK REVIEW:
Book Review--24 Days: How Two Wall Street Journal Reporters Uncovered the Lies that Destroyed Faith in Corporate America
A new book tells the behind-the-scenes story of Enron's demise and the detective work that revealed the chicanery in Enron's corporate practices and culture.

NEWS STORY:
AFL-CIO Advocates Active Ownership as a Way to Enhance Shareowner Value
The AFL-CIO coordinates resolution filing, assesses managers' proxy voting records, and identifies worker-friendly investments for union pension funds.

NEWS STORY:
Influential Institutional Investors to Form National Coalition for Corporate Reform
The National Coalition for Corporate Reform, championed by state treasurers and pension funds, seeks to restore investor confidence through better corporate governance.

NEWS STORY:
New Proxy Voting Recommendation Service Provides Choice, Objectivity
Investor Responsibility Research Center teams with Glass, Lewis & Co. to provide proxy voting recommendations and voting services to institutional investors.

NEWS STORY:
Corporate Governance Ratings Take Different Approaches to Produce Similar Results
GovernanceMetrics International rates corporate governance in relation to other companies, while Institutional Shareholder Services rates in relation to market indexes.

NEWS STORY:
Ford's Latest CSR Report Increases Transparency by Using GRI Guidelines
Ford's decision to base its 2002 Corporate Citizenship Report on Global Reporting Initiative (GRI) guidelines will help analysts get a fuller picture of the company's performance (part one of a two-part article).

NEWS STORY:
Johannesburg Securities Exchange Requires Compliance with King II and Global Reporting Initiative
Companies listed on the Johannesburg Securities Exchange will soon have to comply with King II corporate governance codes as well as Global Reporting Initiative guidelines.

NEWS STORY:
Report Connects the Dots Between Corporate Governance and Climate Change Risk
A report reveals the degree to which 20 major global companies use corporate governance to address climate change risks and opportunities.

NEWS STORY:
Huh?!?: CEO Pay Goes Up in 2002 While the Stock Market Goes Down
The Corporate Library's report shows how CEO pay increased in 2002 despite the fact that the stock market declined significantly, a trend that does not sit well with investors.

NEWS STORY:
IRRC Platform Combines Corporate Governance and Social Responsibility Research
The Investor Responsibility Research Center merges its corporate governance research tool with its social responsibility research tool in a web-based platform.

NEWS STORY:
Increasing Shareowner Action Fuels Record Proxy Season
Shareowners are increasingly recognizing and practicing their right to influence corporate practices and policies by filing and voting on shareowner resolutions.

NEWS STORY:
Investors Press Companies on Stock Options Expensing
A shareowner resolution on options expensing is garnering support, and a California pension fund has released a study on how to best expense stock options.

NEWS STORY:
Shareowners Press Avon to Walk the Walk
Shareowners vote overwhelmingly for board independence at Avon while questions about potential carcinogens in its products linger.

NEWS STORY:
Pay Dirt or Payola? How Halliburton Strikes it Rich
A number of practices have generated profits as well as controversy for Halliburton, the company where Vice President Dick Cheney served six years as CEO.

NEWS STORY:
CalPERS Says Xerox's Corporate Governance Not Worthy of Copying
Pension fund giant names six companies that need to improve their corporate governance.

NEWS STORY:
Watching the Public Company Accounting Watchdog
The Public Company Accounting Oversight Board Association is slowly getting to work and it will be scrutinized by the newly-formed Association for Integrity in Accounting.

NEWS STORY:
CEOs Advocate Economic, Environmental, and Social Sustainability at Conference
The Forum for Corporate Conscience calls on CEOs and corporations to promote triple bottom line performance.

NEWS STORY:
ExxonMobil Receives 23 Shareowner Resolutions on Issues Ranging from Climate Change to Corporate Governance
Concerted shareowner action this proxy season targets ExxonMobil over such issues as its refusal to address climate change and its coupling of CEO and Chairman of the Board.

NEWS STORY:
SRI Issues Will Impact Companies' Financial Performance, UK Pension Fund Trustees Say
A recent survey finds that pension fund trustees in the United Kingdom view socially responsible investing (SRI) issues as linked to companies' future financial performance.

NEWS STORY:
Fannie Mae Receives High S&P Corporate Governance Rating
Fannie Mae becomes the first U.S. company to release its corporate governance score (a 9 out of 10) from Standard & Poor's Governance Services.

NEWS STORY:
World Economic Forum Surveys CEO Attitudes Toward Corporate Citizenship
The World Economic Forum CEO survey finds much enthusiasm but less substance in the adaptation of corporate social responsibility into core business activities.

NEWS STORY:
SEC Tells Mutual Funds To Disclose Their Proxy Votes
The Securities and Exchange Commission voted in favor of rule changes that require mutual fund companies to disclose their proxy voting policies and their actual proxy votes.

NEWS STORY:
ICCR Proxy Resolutions Book Gauges Shareowner Action Climate
In its new publication, the Interfaith Center on Corporate Responsibility rounds up the social and environmental shareowner resolutions to be voted on in the 2003 proxy season.

NEWS STORY:
Top Five Social Investing News Stories of 2002
The major social investing news stories of the year include significant corporate governance reforms and the success of community investment.

NEWS STORY:
Social Investment Forum Outlines "Next Wave" of Corporate Governance Reforms
Additional reforms besides those already on the table will be necessary to create meaningful corporate governance reforms, according to the U.S. Social Investment Forum.

NEWS STORY:
Companies Face Corporate Governance Hurdles
Most public companies will need to restructure their corporate governance policies and practices to comply with new listing standards at NYSE and NASDAQ.

NEWS STORY:
Corporate Governance Now Rated by Mainstream Investment Research Firms
Mainstream investment research firms are now evaluating corporate governance as a potential indicator of stock valuation.

NEWS STORY:
IRRC to Release Corporate Governance Rating Tool
The Investor Responsibility Research Center will launch a new scoring system for evaluating and benchmarking corporate governance performance.

NEWS STORY:
The Strengths and Inadequacies of the Sarbanes-Oxley Act
Social and mainstream investors alike applaud the positive reforms instituted by the Sarbanes-Oxley Act, but also point to additional reforms needed to clean up the markets.

NEWS STORY:
SEC Chair Proposes Eliminating Ordinary Business Exception in Proxy Rules
SEC Chairman Harvey Pitt proposed abolishing a rule that allows companies to exclude shareowner resolutions from their proxy statements because the resolution concerns the companies' day-to-day business.

NEWS STORY:
SRI Mutual Funds Continue and Enhance Corporate Governance Screening
While the SRI industry has long screened for corporate governance criteria, the recent accounting scandals have prompted the development of more comprehensive corporate governance screens.

NEWS STORY:
Conference to Consider the Business Case for SRI
Institutional investors will discuss SRI at the Green Mountain SRI Summit, to be held in Stowe, Vermont in September.

NEWS STORY:
Shareowner Support for Resolutions Increases Significantly This Proxy Season
Support for proposals concerning corporate governance as well as social and environmental issues in the 2002 proxy season is reaching record levels.

NEWS STORY:
New York Stock Exchange Calls for Tighter Corporate Governance Standards
At the SEC's request, the New York Stock Exchange drafted recommendations to fortify corporate governance standards and restore investor confidence.

NEWS STORY:
Study Correlates Shareowner Rights with Strong Stock Price Performance
Through the 1990s, stock in firms that preserved shareowner rights outperformed companies that bolstered management's power, according to an academic paper.

BOOK REVIEW:
Book Review: The New Global Investors
Robert Monks calls on institutional investors to exercise their rights as shareowners and hold senior managers accountable for company performance and practices.

NEWS STORY:
Labor Standards Resolutions Garner Support in 2001 Proxy Season
Ten international labor and human rights proposals that came to vote this year received 10 percent or more support from shareowners.

NEWS STORY:
Better Corporate Governance Pays Off for Large Companies in Emerging Markets
Recent study across global emerging markets finds large companies with good corporate governance yield better bottom lines.

NEWS STORY:
ExxonMobil Feeling Heat on Both Sides of the Atlantic
Shareholder resolutions and boycotts put pressure on oil giant to change its stance on global warming and embrace clean energy.

NEWS STORY:
Getting Boards to Address the Triple Bottom Line
New report proposes a set of principles and actions to assist corporate boards in addressing the triple bottom line of economic, social and environmental performance.

NEWS STORY:
Fortune Names Worst Corporate Boards
Excessive CEO and board member pay a recurring point in the annual roster of America's worst corporate boards.

NEWS STORY:
High CEO Pay Does Not Translate to Good Stock Performance
A new report indicates that top compensation packages may even foreshadow poor short-term stock performance.

NEWS STORY:
Shopping for Responsibility
Internet site is helping consumers base shopping decisions on values.

NEWS STORY:
Worker Files Shareholder Resolution with United Technologies
Shareholders will be asked to support the linking of executive pay with employee satisfaction.

NEWS STORY:
Justification for High Executive Pay Loses Footing
While fairness remains the major issue, two studies and a growing trend among executives also cast doubt on the effectiveness of huge compensation packages.

NEWS STORY:
Shareholders Examine Executive Compensation
A shareholder resolution at Honeywell suggests a link between CEO and worker pay to curb the widening income gap.

NEWS STORY:
GE Shareholders Want Disclosure on Political Spending
Both inside and outside the annual meeting of General Electric, shareholders and protestors lean hard on soft money and several other social issues.

NEWS STORY:
United for a Fair Economy Reports on a Decade of Disparity
A new report reveals the growing divide between the rich and poor in the 1990s.

NEWS STORY:
Who's Paying the Price of CEO Compensation?
With the last proposals for shareholder resolutions in the year 2000 trickling in, executive pay looms large on the proxy horizon again.

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