Shareholder resolutions on toxic chemical risk increasing among US firms - Investor Environmental Health Network releases "Fiduciary Guide"

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Article
6 April 2007

Chemicals in Products Can Pose Big Risk to Companies [USA]

Author: GreenBiz

In the wake of costly litigation, product sales bans, and reputational damage arising from asbestos, toxic materials in cosmetics and toys, and Teflon-related chemicals, U.S. investors are becoming increasingly wary of toxic chemical risks - in products, in supply chains, and in their own portfolios. The number of companies facing resolutions dealing with toxic product risks jumped…in 2006-2007…[refers to Apple, ConAgra, CVS Pharmacies, Becton, Dickinson, Dow, Dupont, Sears, Johnson & Johnston, Bed Bath & Beyond, Service Master, Whole Foods Market, Wal-Mart]

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Article
4 April 2007

Toxics in Your Portfolio? More Companies Facing Shareholder Resolutions on Chemical Risks in Products

Author: Investor Environmental Health Network

Companies facing shareholder resolutions on chemical risks in products jump from just three in '04-'05 to 17 in '06-'07... In the wake of costly litigation, product sales bans, and reputational damage arising from asbestos, toxic materials in cosmetics and toys, and Teflon-related chemicals, U.S. investors are becoming increasingly wary of toxic chemical risks... In response, the Investor Environmental Health Network (IEHN)...today released the 52-page “Fiduciary Guide to Toxic Chemical Risk.” [refers to resolutions filed with Apple, Bed Bath & Beyond, CVS, Dow, DuPont, Hasbro, Mohawk Industries, Scotts Miracle-Gro, Sears, ServiceMaster (over practices by TruGreen Chemlawn unit); positive steps by Whole Foods, Wal-Mart, ConAgra, Becton Dickinson (BD), Johnson & Johnson]

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Article
4 April 2007

[audio] Shareholders Seek Portfolio Detox

Author: Corporate Watchdog Media, interview with Richard Liroff, Investor Environmental Health Network

In the current corporate annual meeting season, shareowners have stepped up demands on companies to seek alternatives to toxic materials in their products... Corporate Watchdog Radio cohost Sanford Lewis, who is counsel to the Investor Environmental Health Network, discusses these and other fights with Richard Liroff, Director of the Network. Other companies discussed include Chemlawn [part of ServiceMaster], Bed, Bath & Beyond, SC Johnson, CVS, Dow Chemical, Wal-Mart, Mohawk Carpet [part of Mohawk Industries] [as well as Apple, DuPont, Avon, Johnson & Johnson, Sears, Scotts Miracle-Gro, ConAgra, Whole Foods, Wal-Mart, Sony, Target, Dr. Scholl's (part of Schering-Plough), SC Johnson]

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Article
1 January 2007

[PDF] Fiduciary Guide to Toxic Chemical Risk

Author: Jane Ambachtsheer, Mercer Investment Consulting; Jonas Kron, attorney; Richard Liroff, Investor Environmental Health Network; Tim Little, Rose Foundation for Communities & Environment; Rachel Massey, Global Development & Environment Institute, Tufts Univ.

This Fiduciary Guide to Toxic Chemical Risk examines the financial dimensions of toxic chemical risk – in products, in supply chains, and in many investors’ portfolios. It explores how these risks may be quantified, and offers fiduciaries a policy framework to view these long-term (but often poorly understood) threats to shareholder value.
[Refers to DuPont, Sherwin-Williams, Enpro Industries, Halliburton, Kaiser Aluminum, Dow Chemical, Merck, Tosco, Ultramar Diamond Shamrock (now part of Valero), Tesoro, Baxter Healthcare (part of Baxter International).
Refers to positive steps by Whole Foods, Wal-Mart, ConAgra, Becton Dickinson (BD), Johnson & Johnson, General Electric, 3M, Sony, C&A Floorcoverings (part of Tandus), Construction Specialties (part of C/S Group), B. Braun Medical (part of B. Braun Melsungen), Catholic Healthcare West, Kaiser Permanente, Premier Inc., Consorta.
Refers to consideration of environmental & social considerations in investment decisions by Smith Barney (part of Citigroup), Goldman Sachs, UBS, Merrill Lynch.
Appendices include shareholder resolutions filed with Apple, Avon, Becton Dickinson (BD), CVS, ConAgra, Dow Chemical, DuPont, Hasbro, Johnson & Johnson, Mohawk Industries, Scotts Miracle-Gro, Sears, ServiceMaster, Whole Foods]

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