Shareholders in US investment company Zevin Asset Management have sided with the firm, voting against a proposal to force the company to disclose its policy on climate change. Many reportedly felt it was unnecessary, believing that T. Rowe Price provides sufficient information. The proposal was brought by Massachusetts -based Zevin , which holds $ 120,000 shares in T. Rowe Price , and markets itself as a socially-responsible company, regularly filing shareholder resolutions to force discussions about ethical issues. T. Rowe Price 's president was not unduly surprised by the vote to reject the proposal, but stated that "proxy votes against increased environmental disclosure by Zevin Asset Management subsidiaries suggest the firm is not taking the issue seriously enough."
Shareholders in US investment company T. Rowe Price Group have sided with the firm, voting against a proposal to force the company to disclose its policy on climate change. Many reportedly felt it was unnecessary, believing that T. Rowe Price provides sufficient information. The proposal was brought by Massachusetts-based Zevin Asset Management, which holds $120,000 shares in T. Rowe Price, and markets itself as a socially-responsible company, regularly filing shareholder resolutions to force discussions about ethical issues. Zevin's president was not unduly surprised by the vote to reject the proposal, but stated that "proxy votes against increased environmental disclosure by T. Rowe Price subsidiaries suggest the firm is not taking the issue seriously enough."