17 Jan '12, 5pm

Largest Corporations Asked to Stop Making Political Contributions

For the first time, institutional investors are asking corporations they hold shares in to completely refrain from making donations on political campaigns. On the 2nd anniversary of the Citizens United Supreme Court decision, asset managers Trillium Asset Management and Green Century Capital Management filed shareholder resolutions on behalf of investors at Bank of America, 3M & Target Corporation to this effect. Target and 3M have been under scrutiny from shareholders since their 2010 support of a controversial Minnesota gubernatorial candidate. It sparked a nationwide backlash against Target and 3M continued to support the candidate even after the uproar. At Bank of America, resolution proponents are concerned that continued political spending could expose the company's already-battered brand to further risk, given its sizable "political footprint." "Citizens United conf...

Full article: http://www.sustainablebusiness.com/index.cfm/go/news.disp...

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