COMMENT ON PROPOSED RULE: DISCLOSURE REGARDING NOMINATING COMMITTEE FUNCTIONS AND COMMUNICATIONS BETWEEN SECURITY HOLDERS AND BOARDS OF DIRECTORS
FILE NO S7-14-03
Dear Sir or Madam:
The Socially Responsible Investment Coalition is comprised of religious institutional investors who are based in Texas or who have extensive activities in this state. Members involve themselves in dialog with companies on social, environmental, and corporate governance issues and frequently file shareholder resolutions concerning these matters.
In general, our members are pleased with the proposal concerning disclosure and communications. We do wish, however, to urge an addition to the proposal that would require disclosure of how race and gender diversity is taken into account in the selection of new directors. Board diversity is becoming more and more accepted as a component of good governance and transparency in this regard is important to investors.
Thank you for your attention to this issue.
September 3, 2003