MRTI reports substantial progress on corporate engagement
Mission Responsibility Through Investment withdraws seven of eight resolutions filed during the current proxy season
LOUISVILLE — Of the eight shareholder resolutions filed or co-filed during the current proxy season by the PC(USA)’s Committee on Mission Responsibility Through Investment (MRTI), seven have been withdrawn after those companies showed progress during the negotiation process.
Often investors work with the companies to negotiate agreements in exchange for withdrawing the resolution. In withdrawal agreements, companies often commit to some degree of action and further dialogues with investors.
Only one resolution filed during the 2024-25 proxy season, which asked the grocery store chain Albertsons for a report detailing any known costs to the company caused by state policies severely restricting reproductive rights and detailing strategies beyond litigation and legal compliance that the company may deploy to mitigate these risks, is going to a vote.
Of the seven resolutions filed and later withdrawn by MRTI and its partners, two were aimed at Duke Energy and OXY, companies identified by the General Assembly for focused engagement.
Along with lead filer, Mercy Investment Services, MRTI co-filed a resolution asking for additional climate-related lobbying and advocacy disclosure from Duke Energy. “We had several productive dialogues with the company, and the resolution was withdrawn for an agreement to improve disclosures,” said Katie Carter, director of the PC(USA)’s Faith Based Investing and Shareholder Engagement, and Simon Doong, the associate in the office.
MRTI also filed at OXY on climate-related issues.
Two other environmental justice and climate change resolutions were filed, then withdrawn. Along with Mercy Investment Services, MRTI filed a resolution with Antero Resources Corporation on methane disclosures, which was withdrawn after dialogue with the company. MRTI also led a resolution asking Dollar General for additional disclosure on chemical policies. The resolution was withdrawn for a commitment from the company.
MRTI filed or co-filed three other resolutions related to health care and human rights, and all were withdrawn.
MRTI led a resolution asking Delta Air Lines to issue a public report similar to what it sought from Albertsons. “We had a productive dialogue with the company,” Carter and Doong said, “and withdrew the proposal.”
With Expedia, MRTI led what Carter and Doong described as “a resolution on due diligence processes concerning human rights in conflict-affected and high-risk areas,” known as CAHRA. The resolution was withdrawn for a commitment to further dialogue.
Together with Friends Fiduciary, MRTI filed a resolution on due diligence processes concerning human rights in CAHRA with Texas Instruments. The resolution was withdrawn for commitments to improve requested disclosures.
The Rev. Marci Glass, MRTI Chair, said, “Shareholder advocacy is more important now than ever, as other levers of influence become more difficult and as regulations are rolled back. We are grateful to be working with other faith- and values-based investors. These partnerships strengthen our work, allowing us to bring Presbyterian values and the stories of impacted communities to companies, encouraging them to be better corporate citizens.”
In addition to the resolutions, MRTI has, since July 2024, participated in 44 dialogues with 29 companies. Many of the dialogues are part of ongoing engagements and collaborations with other faith- and values-based investors. Some of the dialogues, including those with ConocoPhillips and Entergy, include input from communities impacted by climate change and actions of the company.
According to a presentation given during MRTI’s stated meeting earlier this month, MRTI anticipates these developments for the 2025-26 proxy season:
- Continued uncertainty regarding federal and state legislation
- Potentially fewer resolutions filed overall, similar to this season
- Continued impacts from anti-environmental, social and governance attacks.
Watch a video on the work of the PC(USA)’s Committee on Mission Responsibility Through Investment here.
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