Meshing Proxy With Mission: Few foundations do much to influence shareholder votes
The Chronicle of Philanthropy, 5/4/06
As part of its campaign to fight global warming, the Coalition for Environmentally Responsible Economies has for the past two years been trying to persuade several large commercial and residential real-estate companies to do a better job of making their properties energy efficient. The coalition has achieved mixed results, persuading some companies to adopt more efficient designs and use energy-saving materials, while others have resisted its efforts. Among the tactics the coalition pursues: encouraging shareholders to put pressure on the companies to change their ways. The environmental group has helped religious organizations and private foundations that own stock in the companies to write shareholder resolutions urging the companies to increase their energy efficiency.