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T. Rowe Price Shareholders Reject Climate Change Proposal
FYI: (The Linkster says, three cheers for TRP shareholders !)
The shareholders of T. Rowe Price Group sided with the Baltimore-based investment firm Wednesday and voted against a proposal that aimed to pressure the company to support more disclosure about environmental impacts at companies owned by its mutual funds. Regards, Ted http://www.baltimoresun.com/business/bs-bz-t-rowe-annual-meeting-20160427-story.html
T. Rowe Price increased its support for company climate change proposals (not just the disclosures discussed in the original article) from 11% in 2014 to 24% in 2015, though I have my doubts about any significance in that trend. More important is that while T. Rowe Price's record was much better than families like Vanguard, Fidelity, and American Century that supported not a single shareholder resolution, it was way behind other families like Allianz and GMO that supported resolutions over 70% of the time.
Comments
http://ecowatch.com/2016/03/15/mutual-fund-climate-change/
T. Rowe Price increased its support for company climate change proposals (not just the disclosures discussed in the original article) from 11% in 2014 to 24% in 2015, though I have my doubts about any significance in that trend. More important is that while T. Rowe Price's record was much better than families like Vanguard, Fidelity, and American Century that supported not a single shareholder resolution, it was way behind other families like Allianz and GMO that supported resolutions over 70% of the time.
See article for full data and background info.
http://krugman.blogs.nytimes.com/2016/04/28/impurity-in-the-pursuit-of-salvation-is-no-vice/