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City Comptroller William C. Thompson, Jr., today announced that Sprint Nextel has agreed to issue a sustainability report as requested in a shareholder proposal submitted by the New York City Pension Funds.

“I am applaud Sprint Nextel for taking the necessary steps to inform its shareholders of its sustainability efforts,” Thompson said. “The Funds look forward to hearing from other companies who also are willing to make the same commitment. Companies that are environmentally and socially responsible are not only good corporate citizens but also improve their reputation and tend to be more successful.”

“By working so effectively to push companies like Sprint Nextel towards greater environmental responsibility, the New York City Pension Funds have not only ensured that shareholders get the best possible return on their money but also contributed to a better world,” said New York City Public Advocate and NYCERS trustee Betsy Gotbaum. “Companies that protect the environment make for better long-term investments.”  

This month, Sprint Nextel informed the Comptroller’s office that it is in the process of preparing its first Corporate Sustainability Report. In its letter, Sprint Nextel wrote that the “report will include a section on how our corporate ethics, governance and public policy guide our efforts with respect to sustainability. We also plan to report on our policies and practices that we believe are most appropriate to measure our long-term social and environmental sustainability...”

The Funds’ proposal submitted asked that company issue a sustainability report by Dec. 31, 2007 and to include in those reports the company’s definition of sustainability, as well as a company-wide review of company policies, practices and indicators related to measuring long-term social and environmental sustainability.

The proposal was submitted on behalf of the New York City Employees' Retirement System (NYCERS), Teachers' Retirement System of the City of New York (TRS), New York City Police Pension Fund, New York City Fire Department Pension Fund and the New York City Board of Education Retirement System (BERS).

The Pension Funds hold 9,201,318 shares valued at $175,377,121 in the company.

The trustees for the Pension Funds are:

NYCERS: New York City Finance Commissioner Martha E. Stark (Chair); New York City Public Advocate Betsy Gotbaum; Borough Presidents Scott Stringer (Manhattan), Helen Marshall (Queens), Marty Markowitz (Brooklyn), Adolfo Carrion (Bronx), and James Molinaro (Staten Island); Lillian Roberts, Executive Director, District Council 37, AFSCME; Roger Toussaint, President Transport Workers Union Local 100; and, Carroll (Carl) Haynes, President, International Brotherhood of Teamsters, Local 237.

TRS: New York City Finance Commissioner Martha E. Stark (Chair); Deputy Chancellor Kathleen Grimm, New York City Department of Education; and, Sandra March, Melvyn Aaronson and Mona Romain, all of the United Federation of Teachers.

Fire Department Pension Fund: Mayor Michael Bloomberg; New York City Fire Commissioner Nicholas Scoppetta (Chair); New York City Finance Commissioner Martha E. Stark; Stephen Cassidy, President, James Slevin, Vice President, Robert Straub, Treasurer, and John Kelly, Brooklyn Representative and Chair, Uniformed Firefighters Association of Greater New York; Peter Gorman, President and Captains’ Rep., Nicholas J. Visconti, Chiefs’ Rep., and Stephen J. Carbone, Lieutenants’ Rep., Uniformed Fire Officers Association; and, Joseph Gagliardi, Marine Engineers Association.

Police Pension Fund: Mayor Michael Bloomberg; New York City Finance Commissioner Martha E. Stark; New York City Police Commissioner Raymond Kelly (Chair); Patrick Lynch, Patrolmen’s Benevolent Association; Michael Palladino, Detectives Endowment Association; Edwin Mullins, Sergeants Benevolent Association; Anthony Garvey, Lieutenants Benevolent Association; and, John Driscoll, Captains Endowment Association.

BERS: Mayoral appointees Schools Chancellor Joel I. Klein, Alan D. Aviles, Philip A. Berry, David C. Chang, Tino Hernandez, Edison O. Jackson, Richard L. Menschel and Marita Regan; Borough President appointees Luis Peguero (Bronx), Martine G. Guerrier (Brooklyn), Vivian Farmery (Manhattan), Michael Flowers (Queens), and Joan Correale (Staten Island); and employee members Thomas J. Malanga of the International Union of Operating Engineers, Local 891, and Milagros Rodriguez of District Council 37, Local 372.