The petition
Resolution on ConocoPhillips Shareholder Resolutions || Revised April 15, 2008
To be delivered to the Board at its spring meeting, April 25-27, 2008.
WHEREAS, Grinnell College, as a shareholder, has the right to vote on shareholder resolutions filed against corporations in which it has investments, but the college currently delegates this right to its investment managers;
WHEREAS, shareholder resolutions have proven successful in changing corporate polices, such as leading Home Depot and Lowes to publish sustainability reports and leading Coca-Cola to increase its plastic recycling;
WHEREAS, shareholders of ConocoPhillips have filed resolutions urging that company to publish reports and take a stronger stance with regard to (1) ensuring accountability for its environmental impact in communities where it operates, (2) obtaining consent from indigenous peoples particularly affected by its activities, (3) being transparent about its political contributions, especially on environmental issues, (4) researching environmental damage that could result from the expansion of its oil sands extraction operations in Canada, and (5) reducing greenhouse gas emissions;
WHEREAS, Grinnell is currently invested in ConocoPhillips and has the opportunity to vote on these resolutions on or before May 7, 2008;
WHEREAS, the Grinnell College Investment Policy states that the college “recognizes the importance of socially-responsible decisions to the long-term financial performance of business enterprises, and it selects investments and investment managers whose conduct is consistent with the core values of the college”;
WHEREAS, Grinnell’s Statement of Environmental Responsibility states that the college has “a duty to the environment, society, and future generations to be leaders in environmental stewardship, education, and policy,” and that it “is therefore committed to incorporating environmental responsibility into policies, decisions, and daily life on campus”;
WHEREAS, the college has a history of environmentally responsible practices, including the adoption of Environmentally Responsible Building Guidelines, an Apparel Purchasing Policy with environmental stipulations, and programs emphasizing energy efficiency, fertilizer/herbicide use reduction, native plantings, local food purchasing, composting, waste reduction and recycling;
WHEREAS, in October 2007, the Board of Trustees approved a bold plan to reduce the college’s greenhouse gas emissions, which includes the construction of several wind turbines;
WHEREAS, the college has a moral obligation to proactively align its investments with its values by voting in favor of these resolutions and by pursuing further responsible investment initiatives;
THEREFORE, we, the undersigned, urge the college, in order to further uphold its values in its investments, to vote “yes” on the aforementioned shareholder resolutions calling on ConocoPhillips to report on and strengthen its environmental and community-related practices. The undersigned also support the creation of a committee to continue to find ways for the college to be more socially and environmentally responsible with its investments.
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