Trillium Asset Management

We are thrilled to announce that Kathleen (KK) Bochman, CFA, has joined our Portfolio Management team! She brings considerable experience in portfolio management and sustainable investing to Trillium. John Quealy, our Chief Investment Officer, shared his enthusiasm: “KK’s deep expertise in sustainable investing aligns seamlessly with our collaborative approach towards managing strategies consistent with our firm values of equity, ecology, and economy. We are confident that her insights will elevate our ability to deliver investment solutions that not only drive returns but also foster a more sustainable future for our clients and the communities we serve.” KK brings a wealth of experience from her previous roles at Moderna, Fidelity Investments, and Loomis Sayles & Company. Her expertise in ESG data integration, climate transition strategies, and stewardship will be invaluable as we continue to align our investment objectives with positive societal impact. Please join us in welcoming KK to Trillium.

With the Supreme Court’s decision to overturn Roe v. Wade, widespread abortion bans or restrictions are putting women’s health equity at risk.  Women make up half the population, and while the connection between investors and reproductive rights may seem unclear to some, underprioritizing their needs could potentially lead to adverse economic outcomes.   On Wednesday, Oct. 9, Trillium will join RHIA Ventures and the Global Reporting Initiative in Toronto for a critical discussion to underscore the link between “Investors & Reproductive and Maternal Health Care.” Lisa Hayles, Director of International Shareholder Advocacy, will represent Trillium as a panelist. At Trillium, we believe that reproductive health care access is a fundamental right. We have strongly encouraged investee companies to ensure that employers provide access to healthcare for US-based employees, regardless of the state they reside in. Please join Lisa and our fellow investor panelists for this urgent and important conversation. Register by email at: corporate.engagement@rhiaventures.org.

Over 250 years ago, the Industrial Revolution ushered in a new era of productivity, radically improving our quality of life. Today, we are on the verge of yet another economic transformation: the AI Revolution. Similar to the industrial progress charted in the past, the promise of AI has the potential to greatly enhance the human experience, but its growing prevalence also brings forth significant challenges for our planet and society. Powering AI technology requires massive amounts of energy. This strain on our natural resources will exacerbate the current climate and biodiversity crises we face today. The International Energy Agency (IEA) estimates that total global electricity demand from data centers, crypto, and AI will reach 6% by 2026, a number equivalent to the size of Sweden. Outside of environmental impacts, AI presents social risks around justice, data integrity, and safety. At Trillium, we believe achieving community sustainability requires striking a balance between equity, ecology, and economy. While no company or investment will perfectly achieve our goals, this philosophy is integral to how we assess the opportunities and risks of AI, including monitoring: ● Electricity and water impacts ● Sustainable opportunities and infrastructure ● AI-related social impacts As AI capabilities evolve, we are working closely with our partners to better understand this powerful technology and its potential impacts. We will continue advocating for transparency and responsible AI governance through the lens of economic advancement, environmental sustainability, and social justice. Learn about our investment teams approach AI in the link below. 

Walter Bagehot, a Victorian-era banker and early editor of The Economist, is famously quoted as saying: “The purse strings tie us to your kind.” But what implications does this hold for the people who are holding them? Within the asset management industry, who controls capital matters. Despite decades of DEI progress, the percentage of the asset management workforce from underrepresented communities remains fuzzy at best. And the firms that control more than $100 trillion and exert great influence over global economics, often adhere to an antiquated viewpoint that they must choose between diversity and performance.  In an Op-Ed for the Boston Business Journal, Trillium Asset Management CEO, Matt Patsky, argued that it’s time for asset managers to ditch the status quo when it comes to embracing diversity. Matt points out that just 17% of assets were managed by gender-diverse teams, yet numerous studies including from Vanguard found that mixed-gender teams outperformed the benchmark by 47 basis points per year. Diversity is essential for fostering healthy discussions and generating multiple ideas, which ultimately leads to better business decisions, he added. Creating a team that includes women and minorities can open the doors to new circles, differentiate deal flows, and diversify portfolios. Omitting these groups from the decision-making ultimately leaves both money and talent on the table. To keep progress moving forward, Matt is calling on asset managers to promote transparency at the fund level. “If the purse ties us to our kind, then the onus is on us to give more of the power to diverse hands so we can create a future that is brighter for every kind.” Read Matt’s call for diversity in the asset management industry here: https://lnkd.in/eMG9NtVQ

Trillium Asset Management is now hiring a Portfolio Associate – Private Client, based in Boston, MA. Learn more about the position and apply here: https://lnkd.in/eCgQbsSd Please reach out with any questions: TAM_PC_Jobs@trilliuminvest.com

As millions of Americans celebrate #LaborDay weekend soaking up the last rays of the summer season, we invite everyone to remember the driving force that made the holiday possible: labor unions. Labor Day is a tribute to the power of worker solidarity and the unions that organized for numerous societal benefits that make our economy stronger and more just. During the 19th century, American workers began forming labor unions to demand safer working conditions, fair wages, anti-discrimination laws, and an eight-hour workday. Today, this critically important work continues. Unions are experiencing a resurgence amid soaring corporate profits and greater income equality. Companies such as Starbucks, Amazon, and Apple have made headlines for their responses to union activity and Trillium has been a leader pressing companies to live up to their commitments to labor rights Firms with a union presence can experience: ●     Greater worker productivity ●     Worker health and safety improvements ●     Increased worker satisfaction and decreased turnover ●     Decreased gender & racial pay gaps At Trillium, we believe sustainable economic growth cannot be built on abuses of power or the exploitation of workers, and profits should not supersede basic human rights. For a healthy society — and a healthy economy — there must be a balance of power and that is why we support the Protecting the Right to Organize (PRO) Act which supports the right of workers to freely and fairly form a union and bargain together for changes in the workplace. Promoting laborers' rights to organize and collectively bargain provides positive social and economic good, from which both workers and investors benefit. Read our whitepaper. https://bit.ly/4cGiPkg

We believe, racial inequity poses a significant systemic risk to companies across our investment portfolios globally. Racial equity as an investment theme has received much more attention in the United States. As a global investor we wanted to explore two questions in this paper how investors think about racial equity in Europe — and what should they do about it? Address. Acknowledge. Advocate. At Trillium Asset Management, we recognize the challenges of discussing diversity issues openly. Yet, these actions are key to advancing equity and inclusive prosperity. Right-wing political influences and recent efforts to restrict DEI programming may be harmful to the long-term health of our economies. With major elections set to take place amid growing polarization, it’s time-critical for us as shareholders to use our voices to advance an inclusive workforce culture.   Our latest whitepaper “Engaging EU Companies on Racial Equity” builds the moral and business case for advancing racial equity, including: - Why supporting the collection and reporting of ‘equality data’ is key to understanding racial disparities - Our belief that majority-diverse boards are more likely to make better decisions - How drawing from a diverse talent pool attracts and retains top talent and improves reputation - Why institutional investors are in a strong position to influence justice, equity, and diversity, and inclusion (JEDI) benchmarks and standards    - How prolonged racial inequity contributes to the erosion of social cohesion, increased political polarization, and ultimately lower economic growth  Learn how Trillium is engaging institutional investors and advocating for change: https://lnkd.in/ekfMxTUf

The United States isn’t the only nation riding an election cycle. Nearly 60 countries will hold national elections this year, meaning the world is gearing up for major change. Across the globe, voters' moods are souring, and the rising popularity of right-wing rulers from India to France and the United Kingdom is igniting tempers across the political world stage — not to mention, the family kitchen table. Here in the U.S., voters have been dealing with political whiplash. Looming in the shadows is the January 6th attack on the Capitol, the reversal of Roe vs. Wade, and the staggering civil judgments against Donald Trump who remains highly competitive in the Presidential race. This, of course, comes in light of President Joe Biden’s recent departure from the ticket, a shiny new nominee in Vice President Kamala Harris, and an attempt on the former President’s life. And that’s just this month.   Despite the upheaval at home and abroad, the U.S. economy has proven tame in comparison. Inflation has cooled, giving consumers a bit of breathing room, GDP is trending positive, and unemployment remains historically low. While we don’t believe a recession is immanent, weakening consumer spending and a softening labor market, along with geopolitical flare-ups in places such as Ukraine and Gaza, could raise that probability. So, what happens next? In a year expected to bring inevitable change, we’re covering all of these topics and more in our latest Economic and Market Outlook report. Download now: https://lnkd.in/euZFvEXV

As the 2023-2024 proxy voting season winds to a close, Trillium is thrilled to share the results of its second-quarter shareholder advocacy work, continuing our pursuit of more just and sustainable practices and policies across our portfolio holdings. During the quarter, we entered nearly 60 new engagements and joined 30 sign-on letters calling for change, including from major corporations. These initiatives included: - Earning a high vote for our shareholder proposal at Bank of America urging it to align its lobbying activities with sound climate change policy - Co-filing a shareholder proposal with Domini Impact Investments, SHARE, and European investors to boost transparency at Nike and urge the company to support binding agreements that protect worker’s rights within its global supply chain   - Continued work with Visa to increase transparency around its hiring processes by disclosing criminal background checks, which can hinder employment opportunities for formerly justice-involved individuals.  This list merely scratches the surface, and we strongly believe there is much more work to be done. We’re currently planning our 2024-2025 season to generate even more impact on issues like #AI, environmental sustainability, diversity and equity, labor practices, human rights, and more.  To learn more about our shareholder advocacy impact and how we’re driving large-scale change, read the full report: https://lnkd.in/e-MCRwMe

Trillium is proud to stand with The Environmental League of Massachusetts (ELM) and the other 27 Massachusetts based businesses calling on state lawmakers to finalize and pass an omnibus climate bill. The bill includes key provisions on siting and permitting reform, renewable deployment, decarbonization of transportation infrastructure, and planning for a net-zero built environment.   “As long-term investors, we [believe] that the health of people and planet is inextricably linked to the health of our economy”, said Matt Patsky, CEO of Trillium Asset Management   Read the press release here: https://lnkd.in/g9HinxEU