Wespath Benefits and Investments, on behalf of itself and its subsidiaries, including Wespath Institutional Investments, periodically writes letters to U.S. regulatory agencies and cosigns letters and position statements with other investors seeking to influence global public policy leaders.
November 2, 2022—2022 Global Investor Statement to Governments on the Climate Crisis
August 30, 2022—Investors, Companies, and the Accountancy Profession Call for Stronger Alignment of Regulatory and Standard Setting Efforts around Sustainability Disclosure
June 14, 2022—Comment Letter to the SEC on "Enhancement and Standardization of Climate-Related Disclosures for Investors"
May 16, 2022—Investor Statement on the Crisis in Ukraine
March 5, 2022—Letter to the SEC Requesting Tax Transparency Report from Amazon.com
January 19, 2022—Comment Letter on the Methane Regulations Administered by the Environmental Protection Agency (EPA)
September 28, 2021—Letter to Congress on Permanent Federal Paid Family and Medical Leave
June 11, 2021—Letter to Securities and Exchange Commission Regarding Public Input on Climate Change
April 14, 2021—Businesses & Investors Call for Ambitious U.S. NDC
February 23, 2021—Global Investor Statement in Support of an Effective, Fair and Equitable Global Response to COVID-19
July 21, 2020—Letter to U.S. Financial Regulators Regarding Consideration of Climate Change as a Financial Risk
February 13, 2020—Council of Institutional Investors’ Letter to SEC on Proposed Proxy Adviser Rule Changes
February 3, 2020—Letter to Securities and Exchange Commission Regarding Proposed Changes to Proxy Adviser and Resubmission Threshold Rules
October 31, 2019—Letter to Securities and Exchange Commission Addressing Proxy Adviser Regulation and Opposing Potential Changes to Rule 14a-2(b)
September 23, 2019—Global Investor Statement to Governments on Climate Change
September 18, 2019—Securities and Exchange Commission Letter on Potential Changes to Rule 14a-8 9 (filing and/or rebubmission of shareholder proposals)
November 15, 2018—Comment Letter to SEC in Support of U.S. Proxy Process and Shareholder Rights
October 30, 2018—Wespath’s Letter Opposing the Replacement of the Clean Power Plan
October 23, 2018—Letter to EPA and NHTSA Opposing an Easing of Auto Fuel Economy and Emissions Targets
November 3, 2017—Joint UMC Letter to World Leaders at COP23 Urging Strengthening Commitment to Paris Agreement
August 8, 2017—Comment Letter to the EPA on Proposed Rule: Oil and Natural Gas Sector: Emission Standards for New, Reconstructed, and Modified Sources
May 1, 2017—Letter opposing Financial CHOICE Act of 2017 for potential to erode shareholder rights
January 10, 2017—Wespath joins the call for continued low-carbon investments and policies in the U.S.
September 19, 2016—Letter Opposing Proposed Proxy Advisory Reform Bill (HR 5311)
July 21, 2016—Letter to the Securities and Exchange Commission about Regulation S-K Concept Release, File Number S7-06-16
June 13, 2016—Letter to the House Committee on Financial Services opposing a proposed bill (HR 5311) to tighten regulation of proxy advisory firms, which could weaken public company corporate governance and shareholder rights
November 16, 2015—A Letter from General Agencies of The United Methodist Church to COP21
September 8, 2015—Letter to the Premier of Alberta, Canada, supporting renewal and strengthening of Alberta’s climate change policy
July 31, 2015—Letter to twenty-nine state governors supporting implementation of EPA's Carbon Pollution Standards
July 6, 2015—Letter to SEC Regarding Staff Review of Rule 14a-8(i)(9)
May 25, 2015—CEO Letter to G7 Finance Ministers Requesting Action on Climate Change
September 18, 2014—Global Investor Statement on Climate Change, Delivered to Heads of State at the UN Climate Summit
September 20, 2013—Wespath Supports Power Plant Performance Standards
June 19, 2013—Letter to U.S. Secretary of State John Kerry regarding the Accord on Fire and Building Safety in Bangladesh
May 7, 2013—Letter in support of Dodd-Frank Section 1502, Rule 13p-1
September 15, 2009—Regarding the proposed “Proxy Disclosure and Solicitation Enhancements” rule
September 4, 2009—Regarding the proposed “Shareholder Approval of Executive Compensation of TARP Recipients” rule
August 11, 2009—Regarding the “Social Investment Forum Proposal Dated July 20, 2009” on mandatory corporate reporting on environmental, social and governance information
Wespath must occasionally take positions on issues of importance to the Church that have an effect on our work in service to plan participants. We also publish statements to clarify misunderstandings when they surface regarding the nature and purpose of our retirement, health and welfare plans and programs.
Addressing Human Rights—Israel and the Palestinian Territories
A vitally important element of our investment strategy is our proactive and ongoing corporate engagement activities. This differentiates Wespath from other managers that claim that they are socially responsible and who rely exclusively on screening to avoid investments in companies that manufacture, distribute, or sell products and/or services that conflict with their clients’ values.
Our advocacy efforts, by contrast, complement the investment selection process. Guided by the Social Principles of The United Methodist Church, we believe that we can positively influence corporate business practices. We regularly review our investment portfolio to identify companies that could benefit from improved environmental, social or governance policies and procedures.
Wespaths advocacy program is an extension of our managers’ security selection efforts that include consideration of a company’s ESG policies. Working alongside like-minded investors to promote change, the ultimate goal of Wespath’s advocacy program is to promote long-term sustainable business practices that eventually results in greater shareholder value.
Along with other investors who share our values-driven approach, we employ a structured process to corporate engagement that starts with careful research of ESG issues and their implications for long-term corporate sustainability. We then develop a specific goal for the engagement and begin our advocacy effort. We are able to leverage the significant investments held by Wespath and other investors as management views the collective efforts of Wespath and its partners as an important source of information regarding best practices for establishing and monitoring policies related to ESG issues. Many of the conversations continue over several years and result in changes to corporate policy and business practices– clear evidence that advocacy can have a real impact on investment performance.
If attempts at direct dialogue are not productive, Wespath or its partners will file a public shareholder resolution to encourage action by the company. We use these resolutions as a way to elevate important issues before management, directors and other shareholders at the company’s annual meeting. A significant vote in favor of a resolution may prompt management to adopt new policies and/or improve current practices.
We have updated our website with a new look and made it simple to navigate on any device.
We will continue to add more valuable information and features. Please let us know how we are doing.
P.S. For plan sponsors and plan participants, we have a new look for you too. Check out the Wespath Benefits and Investments website.