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Azzad increases investor activism, files first corporate shareholder resolution

Azzad increases investor activism, files first corporate shareholder resolution

Shareholder activism is an important part of Azzad’s ethical investing philosophy. In recent months, we have elevated our involvement in advocacy efforts by engaging corporations on matters of policy, in addition to our longstanding practice of proxy voting in accordance with our ethical guidelines. As part of our move into more active shareholder advocacy, Azzad has recently signed onto several investor statements, campaigns organized by impact investors with the goal of effecting a change in corporate practice. One example is this letter delivered to food company Nestle and organized by the Interfaith Center on Corporate Responsibility (ICCR), an advocacy group of which Azzad is a member. Nestle is a major customer of Tampaco Foils, Ltd., in Bangladesh where, on September 10, a boiler explosion, fire, and building collapse killed 35 workers and injured scores more. As an owner of Nestle stock on behalf of our clients, we delivered the letter, which was co-signed by 66 institutions representing more than $2.3 trillion in assets, calling for Nestle to exercise its influence with Tampaco Foils and demand increased worker protections. Earlier this year, Azzad also signed an investor statement addressed to the U.S. Department of Justice calling for an investigation into Exxon

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Azzad joins call to investigate ExxonMobil over climate change

FALLS CHURCH, VA, April 6, 2016 — Azzad Asset Management, investment advisor to the Azzad Funds, announced today that it has added its voice to a growing campaign to investigate whether Exxon Mobil Corp. intentionally misled the public and its shareholders about the risks of climate change. In April, a group of socially responsible investment managers, including Azzad, sent a letter to the United States Department of Justice calling for an investigation. It read in part: “Recent reports have shown that Exxon knew about the threat of climate change decades ago. Yet over the course of nearly forty years, the company has contributed millions of dollars to think tanks and politicians that have done their best to spread doubt and misinformation — first on the existence of climate change, then the extent of the problem, and now its cause. If Exxon intentionally misled the public about climate change and fossil fuels, then they should be held accountable. We are calling for an immediate investigation.” The letter from investment industry leaders follows recent action by state law enforcement officials to put pressure on the energy company. Last month, a coalition of attorneys general announced their support for New York Attorney General

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