January 30, 2020
Dear Chairman Clayton and members of the SEC,
I am a physician and my husband is a physicist. We are very concerned about the rapidly accelerating impact of climate change on the future of the planet, including all living things, plants, animals, fish, birds, humans, and children.
Changes to SEC Rule 14a-8 will make it much more difficult for individual investors to advocate for the type of investment changes that will be needed to preserve a healthy environment for everyone. We urge you to withdraw the proposed changes to SEC Rule 14a-8.
Corporations need to hear the concerns of ordinary people like my husband and myself. The type of changes you are proposing will make it more difficult for small investors to have any voice in corporate governance. Without corporate accountability and responsibility, the impending climate crisis cannot be stopped. Corporations need to step up and evaluate the true costs of their investment decisions rather than simply living by the short-term bottom line.
My husband and I have investments in funds that are marketed as sustainable, and we and many other investors like us would like to advocate for more environmentally responsible investment options. When big business has stripped the planet and destroyed any hope of creating a viable future, what alternatives will exist for life then, let alone for financial gain.
My husband and I choose our investments because we believe that short-term profits at the expense of the future will continue to hasten the disastrous consequences of climate change for ourselves, our children, and all children. It is important for private investors like us to have the opportunity to express our views to the companies in which we invest.
Corporate actions and misdeeds are the largest force in bringing about the climate crisis, and it is important for all shareholders to have a voice, not just the largest or the wealthiest.
Please reject these proposed detrimental changes to Rule 14a-8.
Mary Sabolsi, MD, MPH and Paul Hsieh, PhD
Brookline, MA 02445