Climate activists find warmer reception at shareholder meetings
BOSTON (Reuters) - Climate activists found companies more receptive to steps like cutting emissions or buying clean power this year, a new tally of shareholder resolutions shows, a trend proponents said undercuts the case for proxy rule changes sought by business groups.
Of the 145 climate-related proposals filed for this year’s springtime annual meeting season, 39 percent led to deals and were withdrawn, according to Ceres, a Boston-based advocacy group that coordinates and tracks the resolutions. Last year the rate was 36 percent, and 21 percent in 2015.
For instance restaurant parent Yum! Brands Inc (YUM.N) in April agreed to track its emissions and to identify ways to reduce them, leading activists to withdraw a shareholder proposal before a shareholder vote, a company spokeswoman confirmed.
Executives are more inclined to compromise as extreme weather shows the impact of climate change, said Rob Berridge, Ceres’ director of shareholder engagement. Read Full Article - Reuters, July 12, 2019