For Immediate Release
May 22, 2015
AT WALGREEN BOOTS ALLIANCE ANNUAL MEETING (5/28/15), SHAREHOLDERS TO VOTE ON INCLUSION OF SUSTAINABILITY PERFORMANCE MEASURES
WITHIN EXECUTIVE PAY FORMULA
Shelley Alpern, Clean Yield Asset Management
WHAT: Shareholders will vote on Item No. 7, a proposal seeking to include sustainability performance among the factors considered in awarding executive pay.
WHO: The proposal has been filed by the Singing Field Foundation, As You Sow Foundation, Mercy Investment Services, Calvert Investment Management, Inc., Benedictine Sisters of Mount. St. Scholastica, Gwendolen Noyes, Ursuline Sisters of Tildonk, and Harrington Investments.
WHEN: Thursday, May 28, 2015, 9:00 a.m. Central Time
WHERE: Civic Opera House, 20 North Wacker Drive, Chicago, IL
WHY: Walgreens’ sustainability programs have lagged behind those of its competitors, while Alliance Boots has initiated more ambitious efforts. Competitors such as CVS, Target and Walmart are surging forward with more aggressive and visible sustainability programs.
Tying business leaders’ compensation to sustainability performance is an emerging tool for ensuring executive focus and accountability to corporate sustainability goals. Integrating sustainability considerations into business decision-making and planning offers both the ability to better manage and avoid risk, and the opportunity to create value.
“Strong evidence has emerged that corporate out-performance on sustainability issues is correlated to financial out-performance and lower cost of capital. The newly merged company has an opportunity combine the best sustainability practices from each of the two companies while integrating new metrics and goals into decisions regarding senior executive compensation,” explains Jonathan A. Scott, President and Director of the Singing Field Foundation, the lead sponsor of the proposal.
The shareholders’ full case for the proposal can be found here: http://1.usa.gov/1Knkqbn.Tags: Executive pay, Singing Field Foundation, Walgreens Boots Alliance