Praxis Mutual Funds®, a leading faith-based, socially responsible family of mutual funds from Everence® Financial, was recently recognized by Morningstar as an asset manager that “walks the walk” when it comes to proxy voting consistent with stated ESG and climate-related mandates.
Morningstar examined how ESG funds voted in the 2018 proxy season on climate-related shareholder resolutions. Using data from the Morningstar Fund Votes database, Morningstar looked specifically at the voting records of ESG funds managed by “ESG specialists” and ESG funds from non-ESG fund companies.
Morningstar’s research concluded that “ESG specialists” were more likely to vote proxies consistent with their ESG mandates. Morningstar’s director of stewardship research Jackie Cook noted in a write up that Praxis Mutual Funds was among nine specialist ESG firms highlighted for uniformly supporting climate-related resolutions. The voting patterns of the traditional asset managers highlighted in the study were far less consistent and, in some cases, seemingly in conflict with the funds’ stated ESG and environmental mandate.
Said Chad Horning, president of Praxis Mutual Funds, “For 25 years, Praxis has been putting our beliefs into action—the very meaning of the word praxis—and making investment choices and voting proxies in ways that make a positive impact on the world. It’s more than just a name for us.”
Morningstar’s article, “When ESG funds don’t walk the walk on climate change votes” can be found on Medium.
About Praxis Mutual Funds
Founded in 1994, Praxis Mutual Funds is a leading faith-based, socially responsible family of mutual funds designed to help people and groups integrate their finances with their values. Praxis is the mutual fund family of Everence Financial, a comprehensive faith-based financial services organization helping individuals, organizations and congregations.