Harrington and Everest Divest From Wind Turbine Manufacturer Gamesa

November 12, 2010 at 9:13 pm | Posted in Sustainability | Leave a comment

Napa, CA – Harrington Investments, Inc. (HII), a socially responsible investment (SRI) advisory firm announced today that it and its subadvisor, Zurich-based Everest Asset Management, have divested of over 17,000 shares of Spain-based Gamesa Corporation. 

“In accordance with our long term investment management style, we would prefer to remain invested in an alternative energy company such as Gamesa,” said John Harrington, President and CEO of Harrington Investments.  “However, we have a fiduciary duty to our clients to screen companies that not only show a strong commitment to their communities, but also invest in companies that respond to shareholder concerns, both of which Gamesa failed to do.”

  Continue Reading Harrington and Everest Divest From Wind Turbine Manufacturer Gamesa…

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Board Committee on Sustainability Proposed For Starbucks and Google

November 12, 2010 at 9:10 pm | Posted in Shareholder Advocacy | Leave a comment

Napa, California-based Harrington Investments, Inc. (HII), has introduced binding bylaw amendments at Starbucks (SBUX) and Google (GOOG), empowering and encouraging the boards of directors to create a standing committee to set company policy on environmental sustainability.

In March of this year, HII was successful in reaching an agreement with Intel Corporation (INTC) to amend the company’s Charter of the Corporate Governance and Nominating Committee to include “corporate responsibility and sustainability performance” into the committee’s overall policy responsibility.  Intel also provided HII with an outside legal opinion stating that under Delaware law, Intel directors have a fiduciary duty to address such issues.

In October, HII was successful in reaching a similar agreement with genetically modified seed producer Monsanto (MON).  Monsanto also agreed to amend the company’s committee charter to specifically delegate sustainability policy issues to the Sustainability and Corporate Responsibility Committee and provided HII with an internal legal opinion that under Delaware law, the company’s directors had a fiduciary duty to comply with charter sustainability requirements. Continue Reading Board Committee on Sustainability Proposed For Starbucks and Google…

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