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2006: Walden Asset Management
Walden Asset Management Logo

American Rights at Work honors Walden Asset Management for its leadership in shareholder advocacy and setting strong labor standards that hold businesses accountable for discrimination, unionbusting, and sweatshop conditions.

In the 1970s, shareowner advocacy efforts became a new tool to bring about societal and corporate change on issues such as apartheid, environmental degradation, and human rights abuses.  In 1986, Walden Asset Management took the lead as the first socially responsible investment firm to use this tool - and did so to improve the lives of America's workers.  Walden, working with a mutual fund client, filed a shareholder resolution requesting Angelica Corporation negotiate in good faith with its employees' union.  Since then, Walden has continued to exercise its investment clout to speak out about corporate labor practices and raise standards to protect workers' rights.

Walden's leadership in shareowner advocacy over the years has stimulated improvements in corporate behavior, including a pledge from TJX Companies to follow labor practices in compliance with international standards, and from the French paper company Imerys to not retaliate against union supporters at its Alabama factory.  The firm also joined with others in filing shareholder resolutions to improve workers' rights at companies such as Hasbro, Sears, Jones Apparel, and Federated Department Stores. 

Walden has also established guidelines for proxy voting on a variety of fair employment issues, has actively encouraged publicly-traded companies to pay a living wage, and favors investment in businesses like Costco, which pays a higher hourly wage and superior benefits than its industry peer Wal-Mart.  Additionally, Walden strives to improve the lives of women and men around the globe by partnering with a number of advocacy groups to address human rights concerns and to prevent abusive working conditions.

Established in 1975, Walden Asset Management has $1.5 billion in assets under management and represents over 300 individual and institutional clients.  Walden is a division of Boston Trust & Investment Management Company, an employee-owned firm.