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Resolution: Endorse the CERES Principles
2003 Shareholder Resolution approved by the Advisory Committee on Corporate Social Responsibility (ACCSR)
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Resolution:
Endorse the CERES Principles
WHEREAS:
Leaders of industry in the United States now acknowledge their
obligation to pursue superior environmental performance and to
disclose information about the performance to their investors
and other stakeholders;
We believe that the integrity, utility, and comparability of environmental disclosure depend on using a common format, credible metrics, and a set of generally accepted reporting principles. This will enable investors to assess environmental progress within and across industries;
The Coalition for Environmentally Responsible Economies (CERES) - a fifteen-year partnership between large investors, environmental groups, and corporations - has established what we believe is the most thorough and well-respected environmental disclosure and stakeholder engagement program in the United States. CERES has also taken the lead internationally, convening major organizations together with the United Nations Environment Programme in the Global Reporting Initiative (GRI), which has produced guidelines for standardizing environmental, social and economic (sustainability) performance. More than 300 companies worldwide, including Agilent Technologies, Baxter International, BASF, British Telecom, Bristol-Myers Squibb, Danone, Electrolux, Ford, General Motors, Interface, KLM, NEC, Nike, Nokia, and Volkswagen, use the GRI's guidelines for sustainability reporting;
CERES' engagement and disclosure program consists of a corporate commitment to endorse the CERES Principles, engage with stakeholders in transparent environmental management and use the GRI Sustainability Reporting Guidelines as the standard for environmental reporting;
The CERES Principles have been endorsed by leading firms in various industries: Arizona Public Service, Bank of America, Baxter International, Coca-Cola, Con Edison, FleetBoston Financial, Ford Motor Company, General Motors, Interface, ITT Industries, Nike, Northeast Utilities, Pennsylvania Power and Light, and Sunoco;
We believe endorsing the CERES Principles commits a company to the prudent oversight of its financial and physical resources through: 1) protection of the biosphere; 2) sustainable use of natural resources; 3) waste reduction; 4) energy conservation; 5) risk reduction; 6) safe products/services; 7) environmental restoration; 8) informing the public; 9) management commitment; 10) audits and reports. (For the text of the CERES Principles see www.ceres.org or contact CERES, 99 Chauncy Street, Boston, Massachusetts 02111, (617) 247-0700. The GRI Guidelines are available at www.globalreporting.org).
RESOLVED:
That shareholders request the company to endorse the CERES
Principles as a reasonable and beneficial component of their
corporate commitment to be publicly accountable for
environmental performance.
SUPPORTING STATEMENT:
Recent studies show that the integration of environmental
commitment into business operations provides competitive
advantage and improves long-term financial performance for
companies. In addition, we believe that the depth of a firm's
environmental commitment and the quality with which it manages
its environmental performance are indicators of prudent
foresight exercised by management.
Given investors' needs for credible
information about a firm's environmental performance and given
the number of companies that have already endorsed the CERES
Principles and its reporting requirements, it is a rational
and prudent step for a company to endorse these Principles if
it wishes to demonstrate its seriousness about superior
environmental performance.
Your vote FOR this resolution serves the best interests of our
Company and its shareholders.
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