Proxy voting in 2013
Genocide-free investing received 9.55% in favor at JPMorgan Chase’s annual meeting on May 21, 2013
- The 2013 vote result was slightly lower than the 2012 result. IAG objected in writing to JPMorgan, on April 19, 2013, just after they published the 2013 proxy, that the wording of the short description for the proposal on the JPMorgan ballot for 2013 served to diminish support for the genocide-free investing proposal because it labeled the proposal as “Adopt procedures to avoid holding or recommending investments that contribute to human rights violations” rather than using the title of the proposal as done for the 2012 ballot as “Genocide-free investing.” That change alone could be responsible for the the voting result being slightly lower than 2012.
- Read Eric Cohen’s presentation of the genocide-free investing proposal at the May 21, 2013, annual shareholder meeting for JPMorgan.
- Read the whitepaper on Genocide-free Investing: 2013 Proxy Votes at JPMorgan Chase and Franklin Resources.
- Public opinion and pressure is one of the most important factors in effecting long-term change. Tell JPMorgan Chase and other financial firms to adopt a genocide-free investing policy. Sign the petition …
The proposal stated:
Shareholders request that the Board institute transparent procedures to avoid holding or recommending investments in companies that, in management’s judgment, substantially contribute to genocide or crimes against humanity, the most egregious violations of human rights. Such procedures may include time-limited engagement with problem companies if management believes that their behavior can be changed. In the rare case that the company’s duties as an advisor require holding these investments, the procedures should provide for prominent disclosure to help shareholders avoid unintentionally holding such investments.
Proxy voting in 2012
Genocide-free investing received 10.74% in favor at JPMorgan Chase’s annual meeting on May 15, 2012
- Read William Rosenfeld’s JPMorgan 2012 Shareholder Meeting Presentation at the JPMorgan Chase annual meeting.
- Download 2012 Proxy Vote on Genocide-free Investing at JPMorgan Chase for a detailed analysis of the proposal.
- Contact us for a private discussion of the merits of the proposal.
- JPMorgan faces backlash over ties to Sudan, CNN Money, May 11, 2012
- Genocide-free Investment Proposal Gains Traction, Despite Opposition from JPMorgan, Enough Project, May 17, 2012
Ad in Pensions & Investments – April 2, 2012
- IAG ran an ad in Pensions & Investments in advance of the voting on genocide-free investing on the proxy ballot at JPMorgan Chase’s annual meeting.
- Click on the image on the right to see the full-page ad in Pensions & Investments from April 2, 2012.
- IAG is very grateful for the support and generosity of the donor who made this ad possible.
Should institutional investors support investments tied to genocide? Research shows that the vast majority of Americans want to avoid investments tied to genocide. Even so, many financial institutions invest in a handful of companies, such as PetroChina, that help to fund the government of Sudan’s deadly campaign of violence against millions of its citizens. With a billion-dollar stake as of September 2011, JPMorgan Chase is one of PetroChina’s largest investors. This proxy season, JPMorgan Chase shareholders can vote to tell the company to avoid investments tied to genocide. Last year, institutions voting for the genocide-free investing shareholder proposal included T. Rowe Price, AFSCME Employees Pension Plan, Christian Brothers and many others. How will you vote? Will you draw the line at genocide? Vote your proxy. Tell JPMorgan Chase to avoid investments tied to genocide.