The annual meeting of the Dominion Virginia Power parent firm
begins at the Greater Richmond Convention Center at 9:30 a.m.
Sierra Club demonstrators will be there when shareholders
arrive, said Joshua Low, a club organizer.
Inside the center, company management will face a shareholder
coalition that wants Dominion Resources to report on its plans and
risks related to expected regulation of greenhouse-gas emissions,
thought to be a major contributor to global warming.
The Sierra Club will ask Dominion Resources to invest in clean
energy sources rather than nuclear and coal-burning power plants,
Low said.
The club also supports a resolution by Ceres, a group of
leading U.S. institutional investors and environmental groups,
asking management to report on Dominion Resources' greenhouse-gas
related risks.
The resolution requests Dominion Resources to report by Sept. 1
on how the company is responding to rising regulatory, competitive
and public pressure to significantly reduce carbon dioxide and
other emissions from the company's power plants.
In its proxy statement, the company opposes the resolution on
the grounds that it already reports on environmental matters
including greenhouse-gas emissions. The company noted that it
announced in November plans to spend $500 million on additional
emission controls on top of $2 billion invested since the 1990s in
clean-air improvements.
However, Shelley Alpern of Trillium Asset Management said that
without cooperation from the electric power sector, the emissions
reductions needed to avert a climate catastrophe will be
impossible to achieve. Dominion lags behind its peers in the
industry in dealing with greenhouse emissions, she said.
For far more extensive news on the energy/power
visit: http://www.energycentral.com
.
Copyright © 1996-2005 by CyberTech,
Inc. All rights reserved.