APRIL 14, 2014 // BOSTON, MA: Trillium Asset Management (Trillium) is pleased to announce that we have withdrawn our 2014 shareholder proposal, which was filed on behalf of The Christopher Reynolds Foundation, at Panera Bread (NASDAQ: PNRA) following a commitment from the company to publish a sustainability report by December 1, 2015. Panera will conduct a materiality assessment in 2014 in order to identify and prioritize issues that are material to the company.
Managing, and reporting on, Environmental, Social and Governance (ESG) business practices helps companies compete in a global business environment characterized by finite natural resources, changing legislation, and heightened public expectations. Reporting allows companies to publicize and gain strategic value from existing sustainability efforts and identify emerging risks and opportunities. By issuing a sustainability report, Panera will strengthen its ability to identify and manage ESG risks and opportunities.
Trillium commends Panera for engaging in a productive dialogue and for making these important commitments.
For more information:Randy Rice, Trillium Asset Management, (617) 423-6655, firstname.lastname@example.org