Stewardship Guidelines

A Framework for Corporations, Shareholders & Stakeholders

 
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Place-Based Shareholder Engagement
Allows for stakeholders, as well as shareholders, to engage with corporate decision making that impacts their region, workforce, and prosperity.

 
 

Corporate Community Stewardship Guidelines

As shareholders, we expect corporations to benefit all of their stakeholders, including shareholders, employees, customers, and the communities in which they operate.  Specifically, we seek the corporations in which we invest to:

  • Be transparent and timely in communications regarding their strategies, particularly any restructuring with potential to reduce local jobs, benefits and other contracting.

  • Commit members of senior management to engage in direct dialogue with worker representatives and local community leaders to develop plans for responsible practices that include long-term worker and community stability and resiliency.

  • Before excessive corporate profit taking, share buybacks or downsizing, guarantee full funding of wages and pensions for workers employed at local facilities; fund high quality worker re-training programs with links to job placement in the case of restructuring or layoffs; pay in full any outstanding obligations to local vendors; and eliminate clawbacks on existing contracts.

  • Make meaningful investments in locally led projects that aim to boost economic diversification and social resiliency in communities where the corporation operates, particularly where it may intend to downsize and/or sell operations.

  • Voluntarily disclose changes in ownership and control including filing 13(d) disclosures within four days, coordinated ownership interests and any corporate holdings or debt that are not aligned with the long-term success of local operations.

  • Demonstrate fidelity to the corporation’s stated values and commitments of accountability to stakeholders.

These draft principles leverage community expertise to bring shareholder and stakeholder interests together. Follow this site for updates as shareholders and stakeholders work together with corporations to fulfill the guidelines, which may lead to refinements over time.