CITI Reports on Clients’ Climate Transition Progress

Citibank today released a climate report containing information on its energy and power clients’ climate transition progress. This information was provided in response to a shareholder proposal filed with Citi this year by As You Sow. The proposal asked Citi to disclose, for each of its sectors with a Net Zero-aligned 2030 target, the proportion of sector emissions attributable to clients that are not aligned with a credible Net Zero pathway and any actions it proposes for shortfalls.

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Google Employees Missed Out on $1 Billion Due to 401(k) Plan’s Investments in Fossil Fuels

Today, researchers at the University of Waterloo, in partnership with As You Sow, released a new report finding that Google employees could have earned an estimated $1.15 billion in additional returns, with the financial performance of the company’s retirement plan holdings “estimated to have been higher if they had divested from the Energy Sector ten years ago on an absolute and risk adjusted basis.”

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Shareholders Continue Strong Advocacy for Corporate Climate and Social Action, Despite Political Attacks

Today, As You Sow, the Sustainable Investments Institute (Si2) and Proxy Impact released Proxy Preview 2024, a comprehensive review of more than 527 environmental, social and related governance (ESG) proposals submitted by shareholders. This 20th-anniversary edition confirms continued faith by shareholders in using proposals to highlight risks and opportunities for companies, despite political efforts targeting ESG more broadly and the rights of shareholders. 

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Hormel Commits to Reduce Plastic Packaging, Other Circular Economy Commitments

Hormel Foods will cut packaging use by 10 million pounds by 2030, form a new industry working group to advance circular packaging policy and produce a report detailing opportunities for the company to take additional circularity action by later this year. In response, As You Sow agreed to withdraw its shareholder proposal with the company.  

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Carbon Clean 200 Companies Outperform Dirty Energy by 39%

As You Sow and Corporate Knights today released their 11th update of the Carbon Clean200™, a list of 200 publicly traded companies worldwide leading the way among global peers to a clean energy present and future. These companies generated almost double the returns of the main fossil fuel index from July 1, 2016, to January 15, 2024, despite geopolitical tensions that have favored fossil fuel stocks in the past two years.

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Intuit Shareholders Seek a Climate-Safe Retirement for Employees at Company AGM

Shareholders will vote today on a proposal at Intuit asking for a report describing how the company is protecting employees from climate risk embedded in its retirement plan investment options. In a rapidly warming world, this proposal from shareholder representative As You Sow asks a critical question about how Intuit plans to protect its employees’ life savings from the economic consequences of climate change. 

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Tesla, General Motors Called on by Shareholders for Deep Sea Mining Moratorium

Tesla and General Motors shareholders are calling for a deep-sea mining commitment in two novel biodiversity proposals filed by As You Sow. Tesla and General Motors have yet to state their position on the issue in stark opposition to peers BMW, Volvo, Volkswagen, Rivian, and Renault. As world leaders and economic titans gather at Davos, biodiversity protection and the risks of deep-sea mining are topics of growing importance.  

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Shareholders Seek to Hold Tobacco Industry Accountable for Littered Plastic Cigarette Butts

As You Sow filed a first-of-its-kind shareholder proposal on Friday asking U.S. tobacco giant Altria to assess and take responsibility for the collection and cleanup costs of trillions of discarded plastic cigarette filters. Used cigarette filters are the most littered form of plastic on the planet, with an estimated marine ecosystem and waste management cost of $26 billion per year. 

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The Diversity Dividend Key to Competitive Success

As You Sow today released “Capturing the Diversity Benefit: Workforce Diversity Linked to Financial Performance.” This comprehensive, landmark report reveals a statistically significant correlation between higher percentages of BIPOC (Black, Indigenous, and People of Color) management and increases in eight standard financial metrics. Key findings add meaningful insight to a growing body of evidence linking financial benefits to a diverse management team, making a clear business and investor case for diversity as a material factor in financial success.

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As You Sow President Danielle Fugere Named on Inaugural TIME100 Climate List

Today, TIME named Danielle Fugere, As You Sow’s president and chief counsel, on the inaugural “TIME100 Climate” list, which recognizes the 100 most innovative leaders driving business climate action. With 30 years of experience spearheading innovative and effective climate strategies to positively influence corporate action, she joins an accomplished roster of climate leaders. 

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100 Largest U.S. Public Companies Making Progress Towards Net Zero Emissions, Though Critical Gaps Remain

As You Sow released its second annual Road to Zero Emissions Report today grading the largest 100 U.S. companies on their progress toward net zero. Compared to last year’s report, 66% of the companies improved their overall grade. However, many still lack value-chain (Scope 3) emissions disclosure and actions demonstrating progress in achieving the emissions reductions necessary to align with global 1.5°C goals.

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House Judiciary Committee Issues Subpoena to Silence Shareholders

As You Sow, the nation’s leading shareholder advocate, today received a subpoena from the House Judiciary Committee demanding the organization provide documents related to its work with companies related to climate risk. This follows an Aug. 1 letter from the Committee arguing that “As You Sow is potentially violating U.S. antitrust law by entering into agreements to ‘decarbonize’ corporate assets and reduce emissions to net zero — with potentially harmful effects on Americans’ freedom and economic well-being.” The Committee sent similar letters to Institutional Shareholder Services (ISS), Glass Lewis, Engine No.1, Trillium Asset Management, Arjuna Capital, and Aviva Investor Americas. 

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New Analysis Shows Federal Employees Have $35.3 Billion Invested in Fossil Fuels

A new analysis from As You Sow of the Federal Thrift Savings Plan (TSP), which manages $725 billion in retirement savings for six million participants, found over $35 billion invested in coal, oil, and gas companies. Just ten oil and gas majors, including Exxon Mobil, Chevron, and ConocoPhillips, account for $9.7 billion invested.

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California Adopts Nation’s Strongest Electronics Repair Law 

California Governor Gavin Newsom signed the nation’s most sweeping electronics device repair legislation, SB 244, into law on Tuesday. Under the bill, manufacturers will be required to facilitate the repair of covered consumer electronics – including computers – by making certain tools and parts available to consumers and repair shops for at least seven years after production. The bill was supported by Apple and HP, yet opposed by device manufacturer trade associations, including the Consumer Technology Association. 

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SEC Publishes New Rules to Address ESG Labeling in Mutual Funds

Today, the U.S. Securities and Exchange Commission (SEC) published new rules to prevent misleading or deceptive use of environmental, social, and governance (ESG) terms in mutual fund names. The new rules modernize the Investment Company Act “Names Rule” to ensure that the name of a fund adequately and accurately represents the investment strategy of the fund, as part of the SEC’s efforts to fight greenwashing in the sustainable investment industry.

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