Preservation of our shareholder rights in the US has been a constant struggle under the current Administration. That is why we have joined other investors to form the Shareholder Rights Group and have stepped up our public policy engagement efforts. Since November, Boston Common has been part of key investor groups defending our existing shareholder rights with the SEC. We advocated for keeping the existing shareholder proposal process, as changing it would harm the interest of investors and stifle key progress made from leveraging the shareholder proposal process over the past 30 years.
We have co-signed key letters submitted by the PRI and the Shareholder Rights Group. Some of these proposed changes include substantially increasing the thresholds for the number of shares and the holding period for initial filings and significantly raising the resubmission thresholds. An expanded definition of micromanagement has also been proposed, which would impede our ability to file shareholder proposals on a material risks such as climate change.
Read the letter Boston Common submitted here.