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Change Finance Files Shareholder Resolutions to Portfolio Companies Addressing Reproductive Health Care Thumbnail

Change Finance Files Shareholder Resolutions to Portfolio Companies Addressing Reproductive Health Care

The filings were submitted on behalf of investors to address data privacy, employee benefits, and political spending ahead of proxy season.

Alexandria, VA - February 7, 2023 -- Change Finance, a majority women-run asset manager, announces an investor activism campaign intended to advance equitable reproductive and maternal health outcomes. Leading a coalition representing over $20 billion in assets under management, Change Finance has initiated outreach to its entire portfolio of 100 US companies to seek information on reproductive health coverage and maternal/parental support commitments to ensure equitable access to care. 

Partnering with RHIA Ventures, an impact venture capital fund which has worked on this issue since 2019, and other investors, Change Finance has filed three shareholder resolutions focused on consumer data privacy, in addition to their engagement campaign:

  •  American Express
  •  MasterCard
  • (proposal withdrawn following agreement with a major bank)

Collectively, 31 filings have so far been submitted for the 2023 proxy season, addressing the intersection between corporate policy and reproductive health in relation to employer-provided insurance benefits, data privacy, and political spending.

“The Dobbs Supreme Court decision which, in June of 2022, overturned Roe V. Wade has put reproductive rights front and center this proxy season,” said Dorrit Lowsen, Co-CEO of Change Finance. “Access to a full range of reproductive health care as well as to adequate maternal and parental support is essential and represents a systemic challenge faced by every large corporation. Companies influence public policy and we’re working hard to show them that investors are indeed paying close attention.”

“In the US, corporations are fully responsible for the health of their employees through benefits programs and employer-based health insurance policies,” adds Lowsen. “That means corporations have an essential role to play in ensuring that their employees have access to a full spectrum of reproductive health care services, including abortion care. Through the filings and our larger direct engagement campaign, we’d like companies to see that investors see lack of access to reproductive health care as a material risk - one that constrains the talent pool and increases health care costs. We want employees to know that this issue affects all stakeholders - and they have strong investor allies looking out for them.”

For an example of Change Finance’s shareholder outreach to their portfolio companies, please see here.

About Change Finance

Change Finance was founded to leverage the power of capital markets to address the role of large corporations in climate change, wealth inequality, and the myriad other social and environmental challenges of today in tandem. Rather than taking on a single issue, Change Finance wields the influence of investors to drive corporate behavioral change. 

Change Finance’s investing approach emphasizes service to life, which it implements through a “divest from harm, invest in healing” methodology, grounded in the thought leadership of Natural Capitalism and the United Nations Sustainable Development Goals. 

As investors make statements with their choice of investment products, corporations are primed to listen and respond. In this way, Change Finance’s suite of products enables investors to drive impact, creating an economy in service to life through financial activism. 

For more information, please visit www.change-finance.com     

Disclosures:

The opinions expressed are those of Change Finance, P.B.C., Investment Team. The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions and may not necessarily come to pass. Forward looking statements cannot be guaranteed. Material presented has been derived from sources considered to be reliable, but the accuracy and completeness cannot be guaranteed. This material is not financial advice or an offer to sell any product.

Change Finance, P.B.C., is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about Change Finance, P.B.C., investment advisory services can be found in its Form ADV Part 2, which is available upon request.