In the proxy season just ended in June, Friends Fiduciary Corporation engaged over 40 companies on a variety of environmental, social, and governance issues. Several new issues were engaged: anticompetitive practices by pharmaceutical companies, hydrofluorocarbons in grocery refrigeration systems, and racial equity audits.
Work continued on corporate lobbying, political contribution transparency, and alignment with company values. Ensuring company assets are expended consistent with a company’s stated public positions and values is an important business concern, particularly with recent political efforts to infringe on voting rights and undermine democratic processes. Misalignment in such spending can expose companies to significant reputational risk, which can negatively affect long-term shareholder value.
Friends Fiduciary’s philanthropic services support Quaker meetings and organizations. Nine groups are currently taking advantage of the newly launched online giving initiative, which is open to meetings, churches, and Quaker nonprofits. During the past year Friends Fiduciary processed over $30,000 in contributions benefiting participating organizations.
This fall, the 2022 Quaker Fundraisers Gathering will offer in-person and virtual opportunities for volunteer and professional fundraisers to learn and connect on fundraising for Quaker organizations. The event will be held November 3–4 in Philadelphia, Pa., and on the web. This year’s theme is “Rejuvenate, Reframe, Rejoice!”
Learn more: Friends Fiduciary Corporation