It has come to the knowledge that the Calvert Socially Responsible Investing has filed several shareholder resolutions this year as part of the ongoing advocacy campaign to encourage greater corporate disclosure.

It had been announced at the April 24 annual meeting of MDU Resources (MDU), an energy and materials company, the resolution of Calvert Socially Responsible Investing (CSRI) had urged the company to commit to sustainability reporting and received 35 percent of the vote, an especially strong percentage for a resolution opposed by company management and the board.
It has also come to the fore, that the CSRI has submitted the proposal to MDU, one of eight filed on disclosure in 2007, because the company does not comprehensively address environmental, workplace safety, or community impacts and programs on its website, in annual reports, or in financial filings with the Securities and Exchange Commission.

Ms. Julie Frieder, the Calvert Social Research Analyst and a member of the Calvert Social Research Department's disclosure team was instrumental in presenting the resolution. She happened to be the key person to voice Calvert's belief that sustainability reporting shows that a company is aware of the broader implications of its business. This in turn is believed to send a clear message to investors, employees, and other stakeholders that the company is alert in the sphere of adopting potential risks and is determined in its objective to position itself as a leader.

In addition, the public reporting makes good financial sense while leading to operational efficiencies as the company evaluates progress on key indicators such as waste reduction and worker safety. The knowledge gained from the process of creating the report thus can lead to real cost savings and long-term benefits. In the case of MDU Resources in particular, the company has noted that oil and gas standards for safety and environment are tightening the international sector at a rapid pace, so there exists a sane opportunity that nondisclosure may lead to competitive risks. Investment analysts need data to better understand how companies are addressing material environmental, social and governance issues.

While talking to the newsmen key personalities of the CSRI has depicted that the strong support for the resolution is the ample proof of many other shareholders' perception in the wisdom of public reporting. It is expected that the vote will lead to a dialogue between shareholders and MDU Resources resulting in a robust sustainability report based on Global Reporting Initiative guidelines.