May 17, 2017
As You Sow’s 2 Degree Climate Resolution Receives 42% Vote at FirstEnergy
Investors Calling for Utilities to Make Major Clean Energy Commitments
Oakland, CALIF – A resolution filed by shareholder advocate group As You Sow calling on major utility FirstEnergy to respond strategically to growing carbon received an impressive 42% vote at their May 16 annual meeting, signaling the latest in a growing movement by investors demanding sustainable policy shifts from the energy industry.
Following a May 12 majority vote win in favor of a similar proposal at Occidental Petroleum Corp, the FirstEnergy vote indicates that more and more shareholders around the country are calling on extraction and utility companies to disclose their climate risk and take clear action to reduce it.
“With the strong showing of support at FirstEnergy, investors are resoundingly appealing to our energy leaders to step up to the plate with respect to decarbonizing and protecting people, the environment, and a stable economy,” said Danielle Fugere, As You Sow President and Chief Counsel. “We are encouraged to see this issue getting the attention of shareholders across the industry.”
As You Sow has co-filed a similar resolution at Chevron to be voted upon later this month, with the goal of increasing not only climate risk transparency, but encouraging energy companies to embed climate protection goals into their long-range business strategies.