UCF stands with investors calling for change after Duke coal ash spill

March 28, 2014

United Church Funds lent its voice to a strongly worded letter to Duke Energy’s Board of Directors, advising them to investigate the weaknesses that led to the devastating Dan River Coal Ash Spill. Led by the Nathan Cummings Institute, a fellow member of the Interfaith Center on Corporate Responsibility, investors are calling on the directors to act as the independent oversight body that they are designed to be —

“In light of the escalating crisis, it is incumbent upon Duke’s directors to assert independent leadership by acting
promptly. We urge you to exercise your ability to retain independent counsel and the expertise of individuals
with no prior financial, professional or other ties to Duke Energy, its executives or the Board to conduct this
investigation. The investigation should be specifically convened on behalf of shareholders and must operate in a
manner that is fully independent of management.”

As part of an ongoing strategy of prioritizing engagement on energy companies, United Church Funds will be a part of any and all follow-up with Duke’s leadership.

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