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Energy Company Investors Demand Action On Climate Change

Energy Company Investors Demand Action On Climate Change

Last week, investors announced the filing of 66 climate and energy related shareholder resolutions with 41 coal, electric power and oil companies in the 2011 proxy season.

This action makes 2011 a record year for shareholder engagement in the energy sector, even as the U.S. government refuses to take action on climate change.

The filings pressure companies regarding a wide range of issues, including the risks and opportunities from oil sands extraction in Canada, hydraulic fracturing in the U.S., global water scarcity, sustainable palm oil sourcing, overall greenhouse gas (GHG) emissions and usage of renewable energy.

The resolutions were filed by some of the nation’s largest public pension funds, foundations and religious, labor and other institutional investors.

“Challenges facing the energy sector are greater and more complex than ever,” said Mindy S. Lubber, director of the Investor Network on Climate Risk (INCR) and president of Ceres, which is helping to coordinate the filings. “Investors are concerned that companies are placing too much emphasis on higher-risk, carbon-intensive strategies and too little focus on viable clean energy opportunities, such as renewable energy, energy efficiency and cleaner fuels.”

According to Forbes, the GOP’s proposed budget would cut funding for solar, wind, wave, geothermal and other renewable-energy technologies by nearly $800 million.

This potential reduction in government funding and incentives, which a majority of energy industry professionals believe “trump markets in driving up energy efficiency uptake by consumers,” has many companies and investors bracing for the worst.

The surge in shareholder resolution filings came just a day after the consulting group Mercer released a report finding that climate change could increase portfolio risk by 10 percent over the next 20 years.

For the first time ever, investors have also filed 11 resolutions requesting that executive compensation be directly linked to sustainability metrics.

Related Reading:
Gas Co. Investors Demand Disclosure Of Fracking Chemicals
Blankenship Quits As CEO Of Massey Energy
Obama Calls For EPA Budget Cuts
Washington’s “Do Absolutely Nothing On Climate” Bills

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Image Credit: Malta Green Youth

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4:42AM PDT on Mar 25, 2011

This makes me wonder if I need to buy one share of ExxonMobil so I can write to them as a stockholder to ask that they please get moving on developing bio-diesel from high-yield oil algae. By the way all cults are religions--not every religion is a cult--but all cults are religions.

11:10PM PST on Mar 2, 2011

Good for them! Govrnment and corporations should listen to the people.

9:30AM PST on Feb 28, 2011

Thank you

9:25AM PST on Feb 28, 2011

Thank you!

8:06PM PST on Feb 26, 2011

Noted, thanks

8:02PM PST on Feb 26, 2011

thanks

7:18PM PST on Feb 26, 2011

I am in shock since for the first I visited Boston museum of science today where everybody and namely our young vulnerable and malleable generation can see: apocalyptic global warming/green presentations, a statement that the waters are rising so we need to shrink our ever growing world's population onto a smaller dry mass of land and we are even playing with the idea of building skyscrapers under the water (only tops will be above(?), a statement that we all came from Africa, a statement that races are just a human artifact with reasoning that scientists are not able to determine person's race from the bone relics, I saw a statement that attributes political meaning to race, and last but not least in the exhibition on mathematics one entire wall is devoted to discoveries throughout the centuries. This wall starts in the year 1000 AD until current time and the very first quite large and eye catching picture is of a mosque! Underneath this photo is written something like "the beginnings date back to islam" - I was so infuriated I can't recall the exact wording. But I know that the arab discoveries and culture was very much killed by islam. Avicenna was an Arab but not a muslim. I also know that 1000 AD is not where math started. Islam was born with the pedofile Mohammed in 638. Somehow, I think that mathematics is a little older than that (China, India...) My point: what is the subliminal message to the students and boy scouts and and everybody who sees this idiocy? Why are th

7:18PM PST on Feb 26, 2011

Now, in Lampedusa, on Febr 14, 6000 muslims (who do not speak italian and can sell vegetable at best) illegaly embarked within 24 hours. They left the liberated Tunisia, they say in search of work. If liberated, why leave it? Isn't it supposed to get better now? Italy is calling EU for help. EU screws them but orders Italy not to ship them back (that would be inhuman). Within the last 10 years many European countries tried to ban Koran or muslims or both or somehow reshape islam because all found it irreconcilable with their respective constitutional and democratic rights. All failed. We will too, as long as we let them tell us that this cult is a religion. This is not about islam. This is about our society and its safety, its future. They taught us in schools that we make our destiny, we determine our future. Now, they are reprograming that entire mindset. Getting us ready to accept mass migration of skilless morons who bang their heads to the ground five times a day and whose power of decision/promise goes only as far as "insallah" (=God willing)?

6:58PM PST on Feb 26, 2011

Take your time here and be patient but this is VERY related:
http://video.google.com/videoplay?docid=-2607083697435048689#ma

11:17AM PST on Feb 26, 2011

We pay because we are taxpayers who have always paid whether it be through unconstitutional income tax or service fees. In Canada we have added a British VAT tax. I call it the FAT. Instead of harmonizing two individual taxes on a certain range of goods; it now harmonizes them into one tax that taxes almost everything . It taxes a lot of items which were never taxed before. Who gets rich? It's our elected leaders; financiers; bankers; big corporations. That's why I call it a FAT Tax. You can depend on the certainty that you will continue to pay for acute myopia; lack of vision and over all greed on behalf of our leaders who serve the Banksters and the Big Oil conglomerates. You will continue to pay for modernizing manufacturing and distribution in third world countries that have no labor laws and no human rights. You will continue to pay Big Oil until they have squeezed every last dollar out of the resource and it no longer yields maximum return on the harvesting of this fossil fuel. You will continue to pay for alternative energy sources without a rebate or tax credit so that Big Labor can operate their xenophobic political control over the people and POTUSes like King Barky who sits in their pocket. You will continue to buy solar goods manufactured in China because of the political and economic will of the Banksters whose favored son is China. Tesla had the answer through free standing scalar energy. Edison and J.P. Morgan controlled the veto. We pay because we always have.

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