Shareholder advocacy
Praxis engages directly with companies and encourages them to pursue business practices that support positive social change.
We believe God calls us to be faithful stewards of all God has entrusted us. In this topic, we focus on climate change and toxic chemicals.
Issue | Company | Latest engagement |
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Climate change – utilities | American Electric Power |
May 2024 Dialogue with AES on climate change; covered greenhouse gas targets and climate-related disclosures, climate lobbying, energy efficiency, Just Transition, and renewable energy and capital expenditure plans. |
Climate change – utilities | Duke Energy |
April 2024 Climate change dialogue with Duke on Just Transition, Scope 3 emissions (the result of activities from assets not owned or controlled by the reporting organization, but that the organization indirectly affects in its value chain), capital alignment, decarbonization strategy, and policy alignment. |
Climate change – utilities | Southern Company |
May 2024 Dialogue with Southern on climate, covering the company’s new nuclear unit, long term emissions-reduction plans, and an update on Just Transition. |
Climate change – oil and gas | ConocoPhillips |
March 2023 Dialogue on climate change including CapEx alignment versus climate scenarios, end use of products (Scope 3 emissions), climate lobbying and trade associations, and board oversight of climate strategy. |
Climate change – banks | Bank of America |
April 2024 Dialogue with BAC centering on coal financing and Arctic drilling and how the company’s climate commitments line up with its lending portfolio. |
Climate change – banks | Citigroup |
Sept. 2023 Dialogue on climate change, covering Net Zero carbon commitments, greening the company’s lending portfolio, and renewable energy financing. |
Climate change – banks | Morgan Stanley |
Sept. 2023 Dialogue on climate change, covering Net Zero carbon commitments, greening the company’s lending portfolio, and renewable energy financing. |
Climate change - proxy voting | ISS |
Aug. 2023 Joined investor letter encouraging ISS to strengthen its benchmark policy on climate, as well as develop specialty policies that would provide a gold-standard approach to comprehensive climate voting recommendations and issuer analysis. |
Climate change |
May 2024 Joined the most recent iteration of the Global Investor Statement to Governments on the Climate Crisis to keep pressure on policymakers to move toward a low carbon economy. |
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Plastics | Petrochemical companies |
June 2024 Joined investor statement on plastics calling on petrochemical companies that produce plastic polymers to take stronger actions towards plastics circularity. Plastic pollution – including uptake into our bodies – has become a major issue and creating a circular plastic life cycle could help to address the problem. |
Antimicrobial resistance | Global policymakers |
June 2024 Participated in investor statement to encourage global policymakers to take action ahead of a United Nations meeting on Antimicrobial Resistance (AMR) in September. The statement outlines seven key asks and provides an opportunity for investors to highlight their concerns regarding the threat of AMR as a systemic risk to investment portfolios, economic stability, and broader society. |
Antibiotics | McDonald's |
Jan. 2023 Dialogue with McDonald’s on ground for withdrawal of our shareholder proposal. The proposal requests that the company adopt an enterprise-wide policy to phase out the use of medically important antibiotics in its beef and pork supply chains. |
Biodiversity | BRF |
March 2023 Dialogue with BRF on biodiversity, waste, and pollution risks and opportunities in its agricultural practices. |
Issue | Company | Latest engagement |
---|---|---|
Human trafficking | Delta Airlines |
July 2023 Dialogue to discuss the company’s ongoing efforts to address human trafficking, including employee training, victims’ services, and coordination with law enforcement. |
Child sexual exploitation | Apple |
April 2024 Dialogue with Apple on what the company is doing to prevent online child exploitation and collaborate with industry peers and government authorities. The dialogue was one of the outcomes of shareholders withdrawing their proposal on the subject. |
Online child exploitation | AT&T |
Feb. 2023 Dialogue with AT&T on prevention and action regarding online child exploitation. Conversation focused on measures companies are taking to protect children, metrics companies can report on this subject, and partnerships with law enforcement, NGOs, and industry peers. |
Indigenous rights | Newmont |
Sept. 2023 Dialogue on their mining operations and relations with workers and indigenous tribes. |
Indigenous rights | Insurance companies |
March 2023 Dialogue on indigenous rights with ConocoPhillips focusing on indigenous communities in Alaska’s North Slope, the Willow Project, and the process for gaining consent for development from communities. |
Fair wages | Nike |
Sept. 2023 Joined investor letter asking the company to pay outstanding wage payments for garment workers in factories in Cambodia and Thailand employed by the Ramatex Group. Workers were dismissed and/or did not receive legally owed partial wages during a factory shutdown. |
Child labor | Chocolate companies |
April 2024 Joined investor letter to the six largest chocolate companies, urging them to help facilitate living wage income for farmers to reduce dependence on child labor. |
Forced labor | European parliament |
April 2024 Joined multi-stakeholder letter to the EU Parliament calling on lawmakers to adopt the EU’s regulation to prohibit forced labor products in the EU marketplace. |
Worker health and safety | Dollar General |
Sept. 2023 Signed on to investor letter requesting a meeting to discuss how the company is implementing the worker health and safety audit shareholder proposal and to share investor recommendations for the audit and reporting process. |
Living wages | Dollar General |
April 2024 Dialogue with Dollar General on living wages, including discussion about living wage policy adoption, cost-benefit analyses of wage increases, and wage-setting strategies and compensation metrics. |
Racial inequality |
Feb. 2023 Joined investor statement regarding the European Commission’s proposed legislation governing artificial intelligence (AI). While AI can enable advancements in some areas, it can contribute towards harms such as wide-spread surveillance, invasion of privacy and discrimination against the most vulnerable. |
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Forced labor |
Jan. 2023 Signed on to investor statement supporting robust forced labor regulations and welcoming the European Commission’s proposal to prohibit products made with forced labor from entering the European Union market. |
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Subminimum wage |
March 2023 Joined investor statement in support of ending the subminimum wage;. A “subminimum wage” is a wage paid that is less than the federal or state mandated minimum wage, which federal law allows with certain groups of workers. The subminimum wage upholds systemic racism and disproportionately impacts women. |
Issue | Company | Latest engagement |
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Tax disclosure | U.S. Securities and Exchange Commission |
June 2024 Joined investor petition calling on the SEC to draft a rule to require US-listed issuers to provide additional disclosure of basic tax and relevant financial and operational information disaggregated by country; we believe that tax transparency can mitigate regulatory risks and provide more fairness regarding the tax burden. |
Tobacco | Walgreens |
Feb. 2023 Joined investor letter requesting a dialogue on the company's future strategy on tobacco sales and statements promising transparency regarding the issue. |
DOL ESG rule | U.S. House of Representatives |
Feb. 2023 Participated in investor letter to Congress in support of the Department of Labor’s ESG Rule and opposing actions that would take away investor choice. |
Drug pricing | Pharmaceutical companies |
Aug. 2023 Pharmaceutical companies are filing a lawsuit against the Department of Health and Human Services over the IRA provision allowing the government to negotiate drug prices. Joined investor statement asking the companies and their trade associations to drop the lawsuits. |
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