May 27, 2010
Napa, CA - In response to the news that Oracle, Cisco and Microsoft have been removed from the voluntary Global Reporting Initiative (GRI) Nasdaq Sustainability Index (QCRD), Harrington Investments, Inc. (HII), a socially responsible investment advisory firm has introduced bylaw amendments at three tech companies, empowering the board of directors to create standing committees on environmental sustainability.
In March of this year, Harrington Investments was successful in reaching an agreement with Intel Corporation to amend the company's Charter of the Corporate Governance and Nominating Committee to include "corporate responsibility and sustainability performance" into the committee's overall policy responsibly. Intel also provided HII with a legal opinion stating that under Delaware law Intel directors have a fiduciary duty to address these issues.
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Socially Responsible Investment Firm Wins Big Vote at Goldman Sachs Shareholder Meeting on Executive Compensation
May 7, 2010
NAPA, CA - A shareholder resolution, filed by Harrington Investments, Inc. (HII), a Napa, California-based socially responsible investment advisory firm, aims to put a stop to runaway executive compensation and short-term profiteering at Goldman Sachs. The resolution received the support of 25% of shareholders at today’s May 7th annual shareholder meeting, even though management urged a "no" vote. RiskMetrics Group supported the HII resolution.
The proposal, presented by Stephen Viederman of the Needmor Foundation on behalf of HII, would require all Goldman executives to hold 75 percent of stocks and options they receive as compensation for at least three years after termination of employment.
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