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Responsible Investment

The Sustainability Council formed a subcommittee in Spring 2009 to vote the College’s proxies. This original committee became inactive and was revived by two students and one faculty member in spring of 2010. The three subcommittee members reviewed a small number of proxies and submitted recommendations to the College for voting those proxies.

The scope of our engagement with responsible investing was expanded in the fall of 2010. After an information presentation from First Affirmative Financial Network, a Responsible Investments student group was formed to address three major tasks related to responsible investing:

  • To make recommendations to Campus Sustainability Council for the investment of the newly established $10,000 Green Investment Fund;
  • To evaluate a portion of the college’s endowment for its social responsibility;
  • To vote the colleges proxies and explore additional areas of shareholder engagement.
Committee Voting Guidelines

In order to provide some structure to our operations, our committee chose to adopt several guidelines pertaining to the committee itself as well as to the resolutions we would be voting on. Members of the 2010-2011 committee chose to adopt the following guidelines:

  • To submit a proxy vote on our committee’s behalf to the college’s Director of Endowment Administration, Stacy Lutz-Davidson, five or more members must have voted on that resolution.
  • Members must be in attendance of committee meetings in order to cast a vote or raise an issue; voting by email is not permitted.
  • Barring unusual circumstances, the committee will vote in favor of the disclosure of companies’ political contributions on the Internet; resolutions proposing disclosure in major newspapers will be reviewed individually.
  • Barring unusual circumstances, the committee will vote in favor of resolutions proposing reporting on companies’ environmental impacts or greenhouse gas emissions.
  • Barring unusual circumstances, the committee will always vote in favor of making executive pay data available to the public.
  • If committee members do not raise an issue about a political contributions resolution once they are made aware of the resolution, votes in favor of these resolutions may be submitted without convening the committee.

Voting Recommendations, 2010-2011

 

COMPANY

RESOLUTION/PROPOSAL NUMBER

COMMITTEE RECOMMENDATION

Johnson & Johnson

Item 4: Say on Pay Frequency*

Item 5: Price Containment (Drugs)

Item 6: Shareholder Proposal on Amendment to Company’s Equal Employment Opportunity Policy

Item 7: Shareholder Proposal on Adopting Non-Animal Methods for Training

Item 4: 1 year

Item 5: FOR

Item 6: AGAINST

Item 7: FOR

Texas Instruments

Item ?: Say on Pay Frequency

1 year

Carnival Corp.

Proposal 19: Frequency of Say on Pay

Proposal 19: 1 year

Coca-Cola Enterprises

Item 3: Say on Pay Frequency

Item 5: Severance Agreements

Item 3: 1 year

Item 5: FOR

Baker Hughes

Proposal 5: Say on Pay Frequency

Proposal 6: Majority Vote Standard for Director Elections

Proposal 5: 1 year

Proposal 6: FOR

Adobe Systems

Proposal 7: Say on Pay Frequency

Proposal 7: 1 year

Exelon Corp.

Proposal 4: Say on Pay Frequency

Proposal 4: 1 year

3M Co.

Proposal 4: Say on Pay Frequency

Proposal 5: Stockholder Proposal on Political Contributions

Proposal 4: 1 year

Proposal 5: FOR

Progressive Corp.

Item 4: Say on Pay Frequency

Item 4: 1 year

The Coca-Cola Co.

Proposal 6: Say on Pay Frequency

Proposal 7: Shareowner Proposal—Report on Biphenol-A

Proposal 6: 1 year

Proposal 7: FOR

EOG Resources

Item 4: Say on Pay Frequency

Item 6: Stockholder Proposal Concerning Corporate Political Contributions

Item 4: 1 year

Item 6: FOR

Union Pacific Corporation

4. Say on Pay Frequency

5(a) Actions Adversely Affecting Preferred Stock

5(b) Removal of Directors

5(c) Changing Authorized Amount of Capital Stock

6 Independent Chairman of the Board

4: 1 year

5: Abstention 

6: FOR

The Goldman Sachs Group, Inc.

3: Say on Pay Frequency

5: Cumulative Voting

6: Special Shareowners Meetings

7: Executive Compensation & Long-Term Performance

8: Report on Senior Executive Compensation

9: Report on Climate Change Risk Disclosure

10: Political Contributions

3: 1 year

5: FOR

6: FOR

7: FOR

8: FOR

9: AGAINST

10: FOR

Occidental Petroleum Corporation

Item 4: Say on Pay Frequency

Item 5: Report on Political Expenditures and Spending Processes

Item 6: Required Nomination of Director w/ Environmental Expertise

4: 1 year

5: FOR

6: FOR

Pepsico, Inc

Item 3: Say on Pay Frequency

Item 6: Right to Call Special Shareholder Meetings

Item 7: Political Contributions Report

3: 1 year

6: FOR

7: FOR

Wells Fargo

Item 3: Say on Pay Frequency

Item 5: Stockholder Proposal Regarding Special Stockholder Meetings

Item 6: Stockholder Proposal Regarding Cumulative Voting in Contested Director Elections

Item 7: Stockholder Proposal Regarding Policy to Require Independent Chairman

Item 8: Stockholder Proposal Regarding an Advisory Vote on Director Compensation

Item 9: Stockholder Proposal Regarding a Report on Internal Controls for Mortgage Servicing Operations

3: 1 year

5: FOR

6: FOR

7: FOR

8: FOR

9: FOR

Caterpillar Inc.

Proposal 5: Say on Pay Frequency

Proposal 6: Report on Political Contributions & Expenses

Proposal 7: Executives to Retain Significant Stock

Proposal 8: Director Election Majority Vote Standard

Proposal 9: Special Stockholder Meetings

Proposal 10: Independent Chairman of the Board

Proposal 11: Review of Global Corporate Standards

Proposal 12: Death Benefits Policy

5: 1 year

6: FOR

7: FOR

8: FOR

9: FOR

10: FOR

11: FOR

12: FOR

Amazon.com, Inc.

Item 4: Say on Pay Frequency

Item 5: Special Shareholder Meetings

Item 6: Assessment and Report Concerning Climate Change

4: 1 year

5: FOR

6: FOR

Wal-Mart Stores, Inc.

Proposal 4: Say on Pay Frequency

Proposal 5: Gender Identity Non-Discrimination Policy

Proposal 6:Political Contributions Report

Proposal 7: Special Shareowner Meetings

Proposal 8: Require Supplier(s) to Publish an Annual Sustainability Report

Proposal 9: Climate Change Risk Disclosure

4: 1 year

5: FOR

6: FOR

7: FOR

8: FOR

 

9: AGAINST

Google, Inc.

Proposal 5: Say on Pay Frequency

Proposal 6: Board Committee on Sustainability

Proposal 7: Simple Majority Voting Standard

Proposal 8: Conflict of Interest and Code of Conduct

5: 1 year

6: FOR

7: FOR

8: ABSTAIN

Exxon Mobil Corp

Proposal 4: Say on Pay Frequency

Proposal 5: Independent Chairman

Proposal 6: Report on Political Contributions

Proposal 7: Amendment on EEO Policy

Proposal 8: Policy on Water

Proposal 9: Report on Canadian Oil Sands

Proposal 10: Report on Natural Gas Production

Proposal 11: Report on Energy Technology

Proposal 12: Greenhouse Gas Emissions Goals

4: 1 year

5: FOR

6: FOR

7: FOR

8: FOR

9: FOR

10: FOR

11: FOR

12: FOR

Tiffany & Co.

Proposal 4: Say on Pay Frequency

4: 1 year

Comcast Corporation

Proposal 7: Say on Pay Frequency

Proposal 8: Cumulative Voting

Proposal 9: Chairman not Current or Former Executive Officer

7: 1 year

8: FOR

9: FOR

Phillip Morris

Proposal 4: Say on Pay Frequency

Proposal 5 (Stockholder 1): Food Insecurity & Tobacco Use

Proposal 6: Independent Board Chair

4: 1 year

5: FOR  

6: FOR

 

 

 

 

Responsible Investment Fund

In April 2011, Colorado College established the CC Green Fund. The initial $10,000 designated for the fund was invested by CC students with support from the Office of Endowment & Investment and the Campus Sustainability Council. The CC Green Fund showcases responsible investing at CC while providing new and exciting education opportunities.

The CC Green Fund aims to:

  • Give students an opportunity to learn and apply responsible investing practices.
  • Help align CC’s values for a just and sustainable world with institutional investment decisions.
  • Support the most socially and environmentally responsible businesses in the U.S. and abroad.
  • Generate investment returns that will fund on-campus sustainability initiatives.
Resources

From the Responsible Endowments Coalition (REC)

Responsible Investing Overview

Responsible Investment 101 Webinar  

Success Stories       

Handbooks on Responsible Investing & Community Investments

REC's Resource Page

Explore REC's website for more helpful resources!

 

Shareholder Engagement Resources

Moxy Vote- Click on the “What is Moxy Vote?” tab to watch a short animated (hilarious) video about why shareholders might choose to vote their proxies.

As You Sow-As You Sow releases an annual “proxy preview” that provides an overview of the various social, environmental, and governance-related shareholder resolutions that will be on proxy ballots during that year. The context it provides is useful in determining your votes.

Unlocking the Power of the Proxy – This guide explains the importance of voting proxies. It is written primarily for foundations, but the message is relevant for other institutional investors as well.

 

Other

United Nations Principles for Responsible Investment