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NorthStar is pleased to share that we have published our 2023-2024 Social Change & Activism Report!
We approach activism and advocacy from the perspective of our five pillars: Racial Justice and Gender Equity, Environmental Justice, Economic Equality, Human Rights, and Corporate Governance.
NorthStar is pleased to announce the publication of our newest piece of thought leadership, The Investor Case for Fair Chance Employment. This report builds upon our 2018 paper on prison labor, and aims to detail our research on fair chance employment along with our related strategy on company engagement. In laying out our argument for fair chance employment as a solution to certain company and economy-wide problems, we urge other shareholders to support our work.
In honor of Second Chance Month, NorthStar Asset Management, Inc. (“NorthStar”)[1] of Boston as shareholders of Xylem Inc. (“Xylem”) common stock announces a successful engagement with Xylem company management codifying a new commitment to establish a fair chance employment program in 2023.
Due to successful negotiations from a shareholder proposal filed by NorthStar, Costco has become the first U.S. corporation to commit to public reporting on the prison labor in its supply chain.
NorthStar’s work on mapping prison labor in the supply chain was recently featured in a Responsible Investor article. The article describes the growing trend in socially responsible investing to take a closer look not only at investments in private prisons, but also the wider network of companies that are somehow related to prisons in general.
NorthStar has published a white paper outlining its perspective on the issue of domestic (U.S) prison labor in company supply chains, and recommending best practices for companies and investors to uncover and respond to abusive labor practices.
“Prison Labor in the United States: An Investor Perspective” goes into detail about how prison labor has become a critical issue related to economic inequality, racial justice, and human rights. Click through to read our paper.
At Alphabet, Inc.’s most recent annual meeting on June 7, 2017, class A shareholders overwhelmingly supported a shareholder proposal asking company management to recapitalize the share structure so that each share has one vote. According to the proponents of the proposal, assuming that all outstanding class B shares were similarly voted, then up to 99.8% of class A shareholders supported the proposal.
NorthStar was quoted following a Facebook annual meeting. Read more here.
Financial Times featured NorthStar's shareholder proposal at Facebook this year in a recent article. Read it here.
After seven months of dialogue with FedEx Corporation, NorthStar Asset Management, Inc. is pleased to report that FedEx has committed to extending health benefits to domestic partners of lesbian, gay, bisexual, and transgender (LGBT) employees in every state. Prompted by a discrepancy between FedEx’s comprehensive non-discrimination policy and the Company’s benefits packages, NorthStar filed a shareholder resolution with FedEx in April of this year asking that equal benefits be extended to partners and families of LGBT senior executives.