FFC Supports Corporate Tax Transparency

Friends Fiduciary has signed on to a statement to the SEC in support of a shareholder proposal filed by the Missionary Oblates of Mary Immaculate at Amazon.com, Inc. calling on the company’s board of directors to issue a tax transparency report to shareholders consistent with the guidelines set forth in the Global Reporting Initiative’s Tax Standard. FFC supports greater tax transparency, specifically public, country-by-country reporting. Disclosure of such tax information is crucial to investors to be able to gauge a “company’s tax position and governance approach and anticipate future impacts on and risks to their holdings,” ultimately affecting long-term shareholder value.