BOSTON, MA – For the past year and a half, Boston Common Asset Management has been engaging Visa on lobbying disclosure. After the company failed to take substantive steps in 2012 to provide additional lobbying disclosure, we re-filed the resolution in August. Dignity Health, Friends Fiduciary Corporation, and Unitarian Universalist Association were co-filers. Boston Common has led a shareholder dialogue with Visa on lobbying disclosure over the last six months with the active participation of the co-filers. During the course of the dialogue, Visa shared with us that they left the American Legislative Exchange Council (ALEC) earlier this year and gave Boston Common permission to share this news within our network of investors and other stakeholders. We withdrew the resolution in December, given Visa’s progress, which includes improved policies and procedures such as board level oversight and an annual review of lobbying activities. Visa also committed to listing any trade associations to which they belong that write model legislation and to providing enhanced disclosure on policy and procedure changes on their website. We will continue to encourage Visa to take further steps related to trade association disclosure in the coming year.
About Boston Common Asset Management, LLC
Boston Common Asset Management is an investment manager and a leader in global sustainability initiatives. Boston Common specializes in long-only equity and balanced strategies and pursue long-term capital appreciation by seeking to invest in diversified portfolios of high quality, socially responsible stocks. Through rigorous analysis of financial and environmental, social, and governance (ESG) factors, we identify what we believe to be attractively valued companies for investment. As shareholders, Boston Common urges portfolio companies to improve transparency, accountability, and attention to ESG issues. Boston Common’s focus is global; it manages international and U.S. portfolios to meet the needs of institutional and individual investors. As of September 30, 2013, Boston Common managed approximately $2 billion, including subadvised assets. We are independent, employee-owned, and field a seasoned, close-knit team of professionals.
The information in this document should not be considered an offer or a recommendation to buy or sell any security, is not designed to be investment advice and should not be relied upon to make investment decisions. We cannot and do not comment on the suitability or profitability of any particular investment. Past performance does not guarantee future results. All investments involve risk, including the risk of losing principal. Boston Common Asset Management and the mutual funds that it manages may have invested in and may in the future invest in some of the companies mentioned in this report. *
For more information, contact:
Lauren Compere, Managing Director — Boston Common Asset Management | email@example.com | phone: 617-720-5557