Make investing great again

Why a Muslim investment company thinks shareholder activism is what this country needs right now As President-elect Trump goes about the task of putting his administration and cabinet in order, one thing looks certain: corporate lobbyists are setting their sights on the political novice and his team. I read with great concern a recent article on the coterie of influence peddlers lining up to sway the new administration (“With Trump’s Election, a Bonanza for Washington Lobbyists,” The New York Times, November 10, 2016). Doubtless the pernicious influence of lobbyists was present during the Obama years, but for the anti-establishment candidate who staked his political reputation on “draining the swamp,” the hypocrisy is particularly striking. It is not surprising that corporate interests exercise power whenever and wherever possible in order to maximize profits, and by extension, value for shareholders. That value can take many forms, however, and there are often competing definitions of the word itself. Corporations make many of the most consequential decisions in today’s society, and in a Trump administration the private sector may well take on an outsized role. Those who feel disempowered after last week’s election result may want to turn to shareholder advocacy as a way

November 14, 2016 No Comments

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

November 8, 2016 No Comments