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Update: ICCR Institutional Investors Have Filed First 150 Shareholder-Sponsored Proxy Resolutions for 2007

Update: ICCR Institutional Investors Have Filed First 150 Shareholder-Sponsored Proxy Resolutions for 2007

Published 12-18-06

Submitted by Governance & Accountability Institute, Inc.

New york, December 18, 2006 "“ Institutional investors of the Interfaith Center on Corporate Responsibility (ICCR) have filed their first 150 shareholder-sponsored resolutions for the 2007 filing/proxy voting season. To date, resolutions have been filed with more than 70 companies addressing more then 40 key issues. ICCR is a leading advocate of Socially Responsible Investing (SRI) and is recognized as a major force in bringing about advances in corporate governance, environmental responsibility, corporate social responsibility and economic justice through organized shareowner advocacy.

"ICCR is now entering its 36th year working to open doors at major corporations to begin dialogues to address critical issues of corporate governance and corporate social responsibility," stated ICCR acting "“Executive Director Fr. Michael Hoolahan. "These initial resolutions are the first of an expected 200-plus that will focus on changing policies, procedures and attitudes at the highest levels of corporate leadership that will in both the short and long-term benefit the corporations themselves, as well as society as a whole."

For more than 35 years the Interfaith Center on Corporate Responsibility has combined social values with investment decisions believing that as investors they must achieve more than an acceptable financial return. ICCR’s 275 faith based member institutions include major church denominations, foundations, religious orders, healthcare systems and pension funds, currently, with a combined market portfolio of more than $110 billion. In addition, there are ICCR associate and affiliate members and non-aligned supporters that include major investment funds, municipal pension funds, and other large financial investors that join in resolution sponsorship and in resolution support through the proxy voting process.

With the 2007 Shareholder-sponsored Resolution proxy season getting underway, ICCR institutional investors have recently filed a series of resolutions and are conducting a number of campaigns.

Issues being addressed include:

  • Backdating of Stock Options
  • Energy Efficiency
  • Executive Compensation
  • Foreign Military Sales
  • Genetically-Modified Organisms "“ Labeling and Reporting
  • Human Rights - Development and Adoption of Policies
  • Political Contributions
  • Separation of CEO & Chair Positions
  • Sustainability Reporting (with special focus on effects of Global Warming)
  • Toxic Chemicals in Cosmetics
  • Vendor Standards

    Companies receiving resolutions include:

  • General Electric - Ethical Criteria for Military Contracts, Political Contributions
  • Abbott Laboratories - Separate CEO & Chair, Executive Compensation
  • Boeing Company - Foreign Military Sales, Human Rights - Develop and Adopt Policies
  • Wendy’s International - Sustainability Reporting, Genetically Modified Organisms - Label
  • Hershey Foods - Vendor Standards,
  • Walgreen Company - Toxic Chemicals in Cosmetics
  • Wells Fargo - Global Warming, Executive Compensation
  • DuPont Company "“ Genetically-Modified Organisms
  • Morgan Stanley - Executive Compensation, Sustainability Reporting (Global Warming)

    Complete information on the resolutions, companies and leads filers is available through "EthVest" (sm), ICCR’s subscription-based, ethical investor database; users can track SRI shareholder-sponsored resolution activity on a daily basis.

    About EthVest: Available online to investors by subscription, EthVest is an ethical investor resource provided by the Interfaith Center on Corporate Responsibility (ICCR). EthVest contains details on shareholder initiatives by faith-based and socially responsible investors, including complete texts and voting outcomes for more than 2,200 shareholder-sponsored resolutions. Resolutions are retrievable by targeted company name, stock ticker, calendar year of proxy vote and topic or issue. Resolutions by ICCR member organizations and institutional investors traditionally focus on nine broad areas of social and environmental justice. Subscribers also receive periodic updates containing timely news and information on ICCR shareholder activism, including newly filed resolutions and negotiated corporate actions.

    For information on EthVest contact: Kenneth Cynar, Governance & Accountability Institute Inc., Tel: 516/248-2383 Fax: 516/248-4045, E-mail: or go to the GAI Web site and click on the EthVest logo.

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