Shareholders Strongly Support Climate Resolutions at Exxon and Chevron Annual Meetings
Today, 33% of investors at Chevron Corporation’s annual meeting voted in support of a shareholder resolution asking the company to report on how it plans to reduce its full range of greenhouse gas emissions and transition its business model to align with a decarbonizing energy market. Also today, at Exxon’s annual meeting, 25% of investors voted in support of a shareholder resolution asking the company to issue a report assessing the public health risks of expanding petrochemical operations in areas increasingly prone to climate change-induced storms, flooding, and sea level rise.
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Shareholders Press ExxonMobil and DowDuPont on Climate Resiliency Risks; Petrochemical Giants Double Down on Operations in Flood Zones
Shareholder proposals brought by As You Sow will challenge two of the world’s largest oil and chemical producers, ExxonMobil and DowDuPont at annual meetings on May 29 and June 25, respectively, to issue a report assessing the public health risks of expanding their petrochemical operations and investments in areas increasingly prone to climate change-induced storms, flooding, and sea level rise, and the risks such operations pose to public health.
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99% of BP Shareholders Support Climate Change Resolution, But Oil Giant Opposes Second Resolution Asking to Set ‘Scope 3’ Emissions Targets
Today, 99 percent of BP shareholders voted in support of a resolution drafted by Climate Action 100+, a group of 300 investors with more than $33 trillion in assets under management, calling for the oil giant to align its business strategy with the 2015 Paris Agreement.
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Biggest Dutch Investor Supports Two As You Sow Climate Resolutions
The biggest Dutch investor, Aegon Netherlands and Aegon Asset Management Netherlands, announced this week its support for nine climate resolutions, including As You Sow’s Chevron Paris-aligned business transition proposal and a petrochemical resiliency proposal filed with Exxon.
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Chevron-Anadarko Acquisition Signals Coming Changes in the Oil & Gas Industry
Chevron announced Friday an intent to acquire Anadarko Petroleum, an exploration and production (“E&P”) oil and gas company. The Chevron-Anadarko deal comes at a time when climate related concerns are raising hard questions about the oil and gas industry.
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Investors Support Green New Deal’s Call for Climate Action
Today, a group of more than 50 investors representing more than $60 billion in assets under management sent a letter to all 535 Members of Congress expressing support of the Green New Deal’s urgent call to action on climate change.
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Trump’s Executive Orders Seek to Expedite Pipelines, Energy Infrastructure
The Trump administration continues to drive the country backward with an announcement that it will sign a number of executive orders attempting to foist unwanted oil and gas pipelines on states and localities.
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Shareholders Silenced — Banks Evade Responsibility for Climate Impacts
Wells Fargo and Goldman Sachs, two banks with major investment and loan portfolios in fossil fuel projects, filed motions to exclude from their proxies a climate related shareholder resolution.
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Exxon and Shell Support Methane Regulations, Gas’ Climate Impact Remains Alarming
At CERAWeek, Shell broke its tradition of avoiding government criticism to call on the Trump administration to tighten methane restrictions from oil and gas operations. Exxon also doubled down on its position that federal methane regulation has an important role to play in leveling the playing field and reducing environmental risks.
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SEC Rules Anadarko Must Include Shareholder Proposal Requesting Disclosure on Company’s Alignment with Paris Greenhouse Gas Reduction Goals
The U.S. Securities and Exchange Commission (SEC) ruled Monday that Anadarko Petroleum Corporation cannot exclude a shareholder proposal filed by As You Sow. The proposal asks the company to issue a report describing if, and how, it plans to reduce its greenhouse gas emissions to align with the Paris Agreement’s goal of avoiding catastrophic climate change.
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Investors Call for the Decarbonization of Electric Utilities
Today, New York City Comptroller Scott Stringer launched a Net Zero Utility Decarbonization Initiative on behalf of an investor coalition representing $1.69 trillion in assets. The initiative calls on U.S. utilities to adopt particular recommendations in advance of their 2020 proxy statements.
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Trump Administration Defies Auto Industry Progress and Abandons CAFE Talks With California
The Trump administration announced Thursday that it had decided to scrap negotiations with California over the president’s plan to undo nationally agreed upon fuel efficiency standards for cars and light trucks. This announcement sets the stage for one of its most consequential climate-policy rollbacks.
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Clean Energy Stocks Prove Resilient Amidst Market Jitters, Alphabet Tops Updated Clean200 List
As You Sow and Corporate Knights released today its sixth update of the Carbon Clean 200™, a list of the 200 publicly traded companies that are leading the way among their global peers to a clean energy future.
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Dominion Proactively Reduces Methane, Impact Unclear in Face of Gas Expansion Plans
Dominion announced today that it will reduce its operational methane emissions 50 percent by 2030 from a 2010 baseline.
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Strong Shareholder Support for Atmos Methane Management Resolution
A shareholder resolution filed at Atmos Energy Corporation by corporate responsibility group As You Sow received strong support from close to 35% of Atmos’ shareholders. The resolution asks Atmos to monitor and minimize its methane emissions.
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BP to Support Investor Resolution on Climate, but Will Announcement Be Followed With 'Concrete, Bold Action'?
BP announced today that it will support a resolution from investors of the Climate Action 100+ initiative asking the company to broaden its corporate reporting to describe how its strategy is consistent with the goals of the Paris Agreement. The energy giant said the BP board has decided to support the proposed resolution, which will be put to shareholders at the company’s annual general meeting in May 2019.
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Exxon Supports Responsible Methane Regulation in the Face of Proposed EPA Rollback
In the final week for public comment on the U.S. Environmental Protection Agency’s (EPA) plan to roll back existing methane regulations, ExxonMobil submitted a formal comment supporting the need for strong methane policy.
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‘An Affront on the Science of Climate Change’: Trump Administration to Propose Rollback on Coal Plant Regulations
The Trump administration plans to ease requirements for carbon capture technology on new coal plants.
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Chevron AGM: Investor Angst Grows With Oil Giants’ Refusal to Plan Transition to Low Carbon Economy
Investors at Chevron Corporation’s annual meeting will vote today on a shareholder resolution put forward by As You Sow and Arjuna Capital. The resolution asks Chevron to report to shareholders on how the company plans to transition its business model to successfully align with a decarbonizing energy market, while also taking a role in helping to limit the planet’s warming to under two degrees Celsius.
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As You Sow Statement on Chevron Corporation’s Annual General Meeting; Two Shareholder Climate Resolutions
As 2018’s annual general meetings press on, attention this week turns to Chevron. Among the shareholder resolutions awaiting a vote on the proxy are two from shareholder advocacy organization As You Sow.
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