Calvert Announces 2005 Shareholder Advocacy Plan; Shareholder Resolutions Call for Board Diversity, Greater Social, Environmental and Governance Accountability.BETHESDA, Md. -- Calvert, one of the nation's largest families of socially responsible mutual funds, announced its plans for the 2005 proxy season. Calvert is seeking greater diversity among corporate boards of directors, further transparency and disclosure regarding environmental and social performance; and improved governance policies from the 28 companies with whom Calvert funds have filed shareholder resolutions. For the results of the 2005 shareholder resolutions and a complete history of shareholder resolutions, go to http://www.calvert.com/sri_648.html. "Shareholder advocacy gives us leverage to help companies that meet our minimum criteria further improve their records for corporate responsibility," noted Nikki Daruwala, Manager, Advocacy and Social Policy for Calvert. "By providing our shareholders with information about what the issues are and how companies are addressing them, we facilitate change and help companies become better corporate citizens." Calvert's 2005 Shareholder Advocacy Program: Board Diversity Calvert is asking several companies - Amphenol Corporation (NYSE NYSE See: New York Stock Exchange :APH); New York Community Bancorp, Inc. (NYSE:NYB); Key Energy Services, Inc. (NYSE:KEG); Expeditors International of Washington, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :EXPD); Everest Re Group Ltd. (NYSE:RE); Semtech Corporation (NASDAQ:SMTC SMTC Southern Maine Technical College SMTC Science/Mathematics/Technology Center (Central Michigan University) SMTC Saluda Mountain Telephone Company (Knoxville, Tennessee) SMTC Short-To-Medium Term Control ); Commerce Bancorp, Inc. (NYSE:CBH CBH cutaneous basophil hypersensitivity. ); AmeriCredit Corporation (NYSE:ACF); Ameritrade Holding Corporation (NASDAQ:AMTD AMTD Arithmetic Mean Temperature Difference AMTD Automatic Magnetic Tape Distribution AMTD Affordability and Manufacturing Technology Demonstration ); Health Management Associates, Inc. (NYSE:HMA (High Memory Area) In PCs, the first 64K of extended memory from 1024K to 1088K, which can be accessed by DOS. It is managed by the HIMEM.SYS driver. It was discovered by accident that this area could be used by DOS, even though it was beyond the traditional ); and Emulex Corporation (NYSE:ELX) - to take reasonable steps to ensure that women and minority candidates are routinely included in each and every board search the company undertakes to fill director positions. The companies are also encouraged to expand their existing Board Nominating and Governance Charters to include language on diversity embodying Calvert's Model Language on Board Diversity (For a copy of Calvert's Model Language, go to http://www.calvert.com/sri_ib_4.html). "We have been making great progress on board diversity," said Ms. Daruwala. "Over the last few years we have filed dozens of shareholder resolutions on this issue, and we have been able to withdraw some 60% of those resolutions because companies have agreed to take positive steps to add women and minorities to their boards," she added. Greenhouse Gas Reductions Calvert is requesting that Newell Rubbermaid, Inc. (NYSE:NWL); Allergan, Inc. (NYSE:AGN); Avery Dennison Corporation (NYSE:AVY); and Analog Devices, Inc. (NYSE:ADI) assess the feasibility of adopting and implementing greenhouse gas emission reduction targets. "We are pleased to announce early success with all four companies," Ms. Daruwala added. Executive Compensation Calvert is asking Broadcom Corporation (NASDAQ:BRCM BRCM Broadcom Corporation (stock abbreviation, AMEX) BRCM Master Chief Boilermaker (USN rating) ), Citizens Communications Company (NYSE:CZN), Dollar General Corporation (NYSE:DG), and Xerox Corporation (NYSE:XRX) to report to shareholders on executive compensation plans that accurately link pay to the company's financial and social performance. Calvert withdrew its resolution with Dollar General after the company agreed to establish and report on executive compensation plans that accurately link pay not only to the company's financial performance, but to fulfilling the commitments of the company mission statement. Equality and Non-Discrimination Calvert is requesting that Alltel Corporation (NYSE:AT); C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW CHRW C.H. Robinson Worldwide (stock symbol) ); Coventry Health Care Coventry Health Care, Inc. (Coventry) (NYSE: CVH) is a managed health care company in the United States. On February 8th of 2007 Coventry agreed to acquire Concentra's Workers Compensation Managed Care Services Businesses. External links
We are pleased to announce successful withdrawals at all four companies. Political Contribution Disclosure Calvert is asking Microsoft Corporation (NASDAQ:MSFT MSFT Microsoft (stock symbol) MSFT Movimento Sociale Fiamma Tricolore (Italy) MSFT Multi-Stage Fitness Test MSFT Master of Science in Family Therapy MSFT Macalester Students for Fair Trade ) to disclose policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental for political contributions made with corporate funds. Calvert, sponsor of one of the nation's largest families of socially responsible investing Socially responsible investing describes an investment strategy which combines the intentions to maximize both financial return and social good. In general, socially responsible investors favor corporate practices which are environmentally responsible, support workplace diversity, , manages over $10 billion in assets among thirty funds. Calvert offers investors a broad spectrum of mutual funds ranging from international, large, mid- and small cap equity, to taxable and tax-free bond and money market. For more information on Calvert and its funds, go to www.calvert.com. For more complete information on any Calvert fund, please call Calvert at 800.368.2748 for a free prospectus. An investor should consider the investment objectives, risks, charges, and expenses of an investment carefully before investing. The prospectus contains this and other information. Read it carefully before you invest or send money. Calvert mutual funds are underwritten and distributed by Calvert Distributors Inc., member NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). , a subsidiary of Calvert Group. (2/05,5391) |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion