oday, the Securities and Exchange Commission (SEC) released a crucial decision holding that Chevron Corp. must respond to shareholders’ climate risk related shareholder proposals and cannot exclude them from the ballot at the company’s annual meeting.
Last week, ExxonMobil successfully silenced shareholders when it asked the Securities and Exchange Commission (SEC) to block As You Sow and Arjuna Capital’s “Low Carbon Business Model” resolution.
The recent ExxonMobil climate risk report, 2018 Energy and Carbon Summary, provided to shareholders in response to a 62% majority vote, has been assessed by experts to be “defective,” “unsatisfactory,” and “inadequate.”
Today, As You Sow and Corporate Knights released the fourth update of the Carbon Clean 200™ (Clean200™), a list of the 200 largest publicly traded companies in the world making significant revenue from clean energy. In its first full year and a half of live performance, Clean200 companies generated a total return of 32.1%. That’s almost double the 15.7% for its fossil fuel benchmark the S&P 1200 Global Energy Index.
In a new shareholder resolution, As You Sow and Dominican Sisters of Hope, Congregation of St. Joseph, Adrian Dominican Sisters, and Dignity Health are calling upon Chevron to report to shareholders on how it is detecting and mitigating methane emissions, a leading cause of climate change. Methane, the primary component of natural gas, has an intense, short-term climate forcing impact, at least 84 times that of carbon over 20 years. San Ramon-based Chevron is ranked near the top (17th out of the 100 highest) methane emitters from onshore production based on a 2016 study.