Sustainable Financial Markets

Business for Democracy and ASBC Lead Effort to Overturn Citizens United v. FEC

The Business for Democracy Campaign, which the American Sustainable Business Council is spearheading in partnership with Free Speech for People is tackling the compelling issue of corporate contributions to political campaigns.

The U.S. Supreme Court’s Citizens United v. FEC decision on January 21, 2010 allows corporations to spend unlimited funds to support or oppose candidates for political office, overturning campaign finance laws in place for decades. The Business for Democracy campaign is an initiative of business leaders and their companies who believe this ruling is in direct conflict with American democratic principles and a serious threat to good government. The campaign supports the four members of the Supreme Court and the 80 percent of Americans who disagree with the decision (Washington Post poll, Feb. 17, 2010).

If you'd like your business to join this effort, you can sign the statement of support here or here.

Sustainable Financial Markets

Two NSFM participants are members of the SEC’s newly created Investor Advisory Committee (IAC)
Posted: 05 Mar 2010 07:40 AM PST
Adam Kanzer from Domini Social Equity, LLC., and Stephen Davis from the Yale Milstein Center on Corporate Governance. The IAC is undertaking consideration of further expanding required environmental, social and governance disclosure under the leadership of the IAC’s Investors as Owners Subcommittee, which Stephen Davis Chairs.

http://www.sec.gov/spotlight/investoradvisorycommittee.shtml

Any NSFM participants who would like to collaborate on comments or a consultation paper for the IAC review, please contact Cynthia Williams at cwilliam@law.uiuc.edu.

SEC Actions and Proposals to Prioritize Needs of Long-Term Investors
Posted: 05 Mar 2010 07:36 AM PST
Recently the SEC issued interpretive guidance for companies concerning their disclosure related to climate change. A copy of their guidance can be found at: http://www.sec.gov/rules/interp/2010/33-9106.pdf

Soon thereafter, Commissioner Luis A. Aguilar gave a speech putting that action into a larger context, that of the need for the SEC to prioritize the needs of long-term investors. A copy of the speech can be found at: http://www.sec.gov/news/speech/2010/spch020510laa.htm