US SIF Statement on US Chamber of Commerce's Paper on Shareholder Proposal Reform

US SIF CEO Lisa Woll addresses the importance of the shareholder process in this response to the US Chamber of Commerce.
Washington, D.C., - July 27, 2017 -- US SIF: The Forum for Sustainable and Responsible Investment—the leading voice advancing sustainable, responsible and impact investing across all asset classes and representing 300+ members with more than $3 trillion in assets under management or advisement—released the following statement today in response to the U.S. Chamber of Commerce's new paper “Shareholder Proposal Reform:  The Need to Protect Investors and Promote the Long-Term Value of Public Companies.”
Lisa Woll, US SIF CEO: “We believe The Chamber of Commerce would be well served by studying our 2016 Report on US Sustainable, Responsible and Impact Investing Trends.  What they will learn is that more than 200 investment management firms and institutional asset owners with combined assets of $2.6 trillion filed or co-filed shareholder resolutions from 2014 to 2016 on environmental, social and corporate governance (ESG) issues. These long-term investors are well aware of the growing body of academic evidence that companies with good ESG practices are more likely to have good financial performance. In fact this practice both "protects investors and promotes the long term value of public companies," the subtitle of the Chamber's paper.    
“The shareholder process is an effective and efficient means for shareholders to engage with management and boards.  Proposals such as those made by the Chamber fundamentally redefine the intent of section 14a-8 and tilt the scales in favor of corporate management over company owners.  
“We invite the Chamber and others to learn more about the effectiveness of the current shareholder process and the growing demand for sustainable, responsible and impact investing at”
About US SIF
US SIF: The Forum for Sustainable and Responsible Investment is the leading voice advancing sustainable, responsible and impact investing across all asset classes. Our mission is to rapidly shift investment practices towards sustainability, focusing on long-term investment and the generation of positive social and environmental impacts. US SIF members include investment management and advisory firms, mutual fund companies, research firms, financial planners and advisors, broker-dealers, community investing organizations, nonprofit associations, and pension funds, foundations and other asset owners. Learn more at