MMA Praxis Mutual Funds joined Boston Common Asset Management and other concerned investors in filing a shareholder resolution with ConocoPhillips seeking a report on the Company’s policies, procedures and practices for obtaining consent of Indigenous Peoples affected by exploration and development activities. The majority of untapped oil reserves lie in ecologically sensitive and politically unstable parts of the world. It is increasingly important that companies develop sophisticated processes for engaging Indigenous Peoples whose lives are dramatically transformed and disrupted by massive natural resource extraction projects. Failure to do so generates anger, disenfranchisement and active—even violent—resistance. This has cost energy companies billions of dollars, damage to property and loss of human life in countries like Nigeria, Indonesia, Ecuador, Columbia and elsewhere.

Shareholders raised these concerns related to ConocoPhillips plans to explore and develop resources within the remote Northern Peruvian Amazon—a region where a number of indigenous peoples are seeking to live in Voluntary Isolation from the modern world, preserving their ancient ways of life. Efforts by ConocoPhillips and its partner Repsol, pose very real threats to the economic, spiritual, cultural and physical health of these isolated peoples.

The resolution appeared on the Company’s ballot at its May 14, 2008, annual meeting and earned a 9% positive vote, down slightly but sufficient for refiling a third year. The number not voting with management (“yes” + abstentions) actually rose to 24%.

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