March 6
Investors have filed a record 54 global warming shareholder resolutions
with U.S. companies during the 2008 proxy season, according to Ceres, a
group that advocates socially responsible investing. Thatīs nearly double
the number filed two years ago.
Companies targeted this year include electric power companies, oil and coal
producers, airlines and homebuilders.
The resolutions sought greater disclosure from companies on their responses
to climate change, including greenhouse gas reduction and renewable energy
and energy efficiency strategies, according to Ceres, which helped
coordinate the shareholder filings.
The investors filing the resolutions include some of the nationīs largest
public pension funds, labor groups, foundations, and religious and
institutional investors.
"Many U.S. companies are confronting the risks and opportunities from
climate change, but others are not responsing adequately, and they may be
compromising their long-term competitiveness as a result," said Mindy S.
Lubber, president of Ceres.
Fourteen of the 54 resolutions were withdrawn by investors after the
companies agreed to disclose potential impacts from emerging climate
regulations and strategies for reducing greenhouse gas emissions, according
to Ceres.
Resolutions are still pending against dozens of other companies and could be
voted upon at upcoming corporate annual meetings.
Additional information about the shareholder resolutions and the companies
involved can be obtained at www.ceres.org.
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