TIAA-CREF Statement on AFT Resolution
New York, October 08, 2009
TIAA-CREF is a leading advocate for corporate social responsibility and works to promote human, civil and labor rights in our investment screening, shareholder advocacy and policy.
Social Screening
Our socially screened funds and accounts give special consideration to companies’ environmental, social and governance records, and assess, among other things, employee relations, union relations, health and safety, and retirement and work/life benefits. Screens for global companies also address sweatshop labor, child labor, forced labor, prison labor and right to association.
Companies with substantial record of human, civil and labor rights practices generally receive low scores and are highly unlikely to be included in TIAA-CREF’s socially screened portfolios.
Shareholder Advocacy
In 2008, TIAA-CREF voted on management and shareholder proposals at more than 7,000 portfolio company meetings in the United States and internationally. These included a wide range of human rights resolutions, including proposals related to labor rights, free speech and community engagement in developing countries. We supported resolutions asking companies to disclose how they are addressing human rights issues.
Engagement of Portfolio Companies
TIAA-CREF remains committed to dialogue and engagement with portfolio companies when we see shortcomings in their approach to human rights issues. Last March, we announced plans to intensify pressure on portfolio companies that continue to do business with the government of Sudan and to divest from those that fail to end their ties to the government or take meaningful steps to help end genocide and alleviate suffering in Darfur.
TIAA-CREF also is a signatory to the U.N. Principles for Responsible Investment (PRI). The PRI provides a framework for integrating environmental, social and governmental issues into investment decision-making and ownership practices, with the goal of enhancing long-term returns for investors.
These and other actions reflect TIAA-CREF’s commitment to socially responsible investing, and our unwavering mission to help meet the financial needs of the individuals and institutions we serve.
For more information about Socially Responsible investing at TIAA-CREF, please read this brochure.
Media Contact:
Jennifer L. Compton, Sr Media Relations Officer, Corporate Media Relations
jcompton@tiaa-cref.org, 212 916-6066 Cell: 917 597-8896
Because social screening excludes some investments, our socially screened funds and accounts may not be able to take advantage of the same opportunities or market trends as accounts that do not use such criteria.
TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products.
You should consider the investment objectives, risks, charges and expenses carefully before investing. Please call 877-518-9161 or log on to tiaa-cref.org for a current prospectus that contains this and other information. Please read the prospectus carefully before investing.
