The Ethical Funds Company has withdrawn shareholder resolutions presented to three Canadian companies after they agreed to improve disclosure on their climate change policies.

Canadian Utilities, Finning International and Russel Metals all received shareholder resolutions from Ethical Funds after failing to respond to a 2007 survey issued by the Carbon Disclosure Project (CDP) -an international, $41 trillion initiative that encourages companies to reduce their carbon levels and greenhouse gas emissions.  Ethical Funds withdrew the resolutions following positive dialogue with all three companies.

As a result of engagement with Canadian Utilities on this issue, Ethical Funds is now working with the company to improve its climate change reporting, and to encourage it to respond to next year's survey from the CDP.

After engaging with Russel Metals, one of the largest metals distribution and processing companies in North America, and Finning International, a heavy equipment dealer that specializes in supplying Caterpillar products to the mining industry, both agreed to respond to the CDP letter and questionnaire.

"Our dialogue with these three companies has been very positive and we are pleased to see real signs of progress towards better disclosure of their climate change policies," said Bob Walker, Ethical Funds' Vice President, Sustainability.

Ethical Funds has also written to all of the companies in its portfolio that have not yet responded to the CDP questionnaire, urging them to do so.

For more information, visit www.ethicalfunds.com

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