As You Sow president Danielle Fugere says in a statement following the AGM: ‘With this strong vote, investors have made it clear that companies must fully address how the global transition away from fossil fuels will affect their companies’ bottom line and future success. As demonstrated by the IEA net-zero by 2050 scenario, a clear pathway to achieving net-zero emissions exists – and it requires a rapid movement away from fossil fuel-based energy. Read More →
Read More“Their current financial statements don’t truly take climate risk into account,” said Danielle Fugere, president of the shareholder advocacy group As You Sow. “They are looking at significant growth of fossil fuel assets and fossil fuel demand over the next two or three decades. What happens to your business if we are successful in meeting the net-zero goals that we set in Paris? How many write- offs are there? What happens to your asset retirement obligations?” Read More →
Read More“Are they building things that will withstand 500-year storms that occur every year?” asked Danielle Fugere, president and chief counsel of As You Sow. Read More →
Read MoreAccording to preliminary results, 46% of investors voted to support a shareholder resolution at Chevron and 25% voted to support a similar one at Exxon. Filed by shareholder advocacy group As You Sow, the resolutions call for Exxon and Chevron to report on the public health risks of expanding their petrochemical operations in areas increasingly prone to climate change-induced storms, flooding, and sea level rise. The same proposal received a majority 54.7% vote at Phillips 66 earlier this month. Read More →
Read MoreContinuing a recent trend that began in the 2019 proxy season, Berkeley, California-based proponent As You Sow has once again come to an oil and gas company operating on the Gulf Coast to request that it report on the public health risks of expanding petrochemical operations in the environmentally risky region.
Read MoreOne proposal asks the company to report on how expanding the operations of its chemical division, CPChem, may affect public health in areas prone to climate-change-related natural disasters… The organization that brought the proposal to the board, As You Sow, is a nonprofit group that uses shareholder advocacy to push for socially responsible business practices in several industries. Read More →
Read More“If companies do not intend to align with the global Paris goal, they should be clear with shareholders,” As You Sow President Danielle Fugere said in a statement. “Only through clear and comparable reporting can shareholders benchmark company actions and make sound investment decisions.” Read More →
Read MoreNew York State and the UK’s Church Commissioners will vote against the entire board of ExxonMobil again this year in response to the US oil giant’s continued “recalcitrant” approach to climate change. Read More →
Read MoreA document on the agency website noted briefly that SEC staff agreed March 20 with requests by company officials to exclude proposals from a group of shareholders, including the Church of England and As You Sow, asking if the companies will join other oil and gas companies in taking steps to align with the Paris Agreement goal of net-zero emissions by 2050, and calling for reduction targets, long-term business plans and other details. Read More →
Read More“Reducing greenhouse gas emissions at the margins, while continuing business as usual as Exxon and Chevron are doing, is not a successful long-term business plan, especially when competitor companies are implementing new paths to thrive in a low-carbon economy,” said Danielle Fugere, president of As You Sow, sponsor of resolutions demanding Chevron and Exxon align their business models with the goals of the Paris Agreement. Read More →
Read More“Investors are quite concerned that companies like Chevron that are producing fossil fuels will continually be caught with assets that they can't sell. If utilities can buy solar at a cheaper rate than natural gas, that will impact Chevron,” said Danielle Fugere, president and chief counsel of shareholder advocacy group As You Sow. Read More →
Read MoreThat was the reaction Wednesday from sustainability professional Jessica Davis after oil giant Chevron announced that it was writing down at least $10 billion and as much as $11 billion in assets.
Read MoreA New York judge found ExxonMobil not guilty of deceiving investors about how it accounted for the cost of future climate-change regulations.
Read MoreLarge investors in General Motors Co. are urging the company to take a stronger stance against President Trump's efforts to unravel a key Obama-era climate policy.
Read MoreShareholders at two of the world’s biggest oil and gas producers are urging the companies to adopt polices to reduce their impact on climate change.
Read MoreShareholders at two of the world’s biggest oil and gas producers are urging the companies to adopt polices to reduce their impact on climate change.
Read MoreIt is a new sound. In the last month of May, the period in which the oil sector holds its annual meetings for shareholders, climate change was high on the agenda almost everywhere.
Read More"Molecules of U.S. freedom.” “Freedom gas.”
Read MoreExxon and Chevron shareholders rejected a series of climate change-related proposals at the companies’ annual investors meetings on Wednesday.
Read MoreOccidental Petroleum could have billions more from Berkshire Hathaway to sweeten a deal to buy Anadarko Petroleum, despite an agreement from earlier this month where Chevron Energy would acquire the smaller oil company.
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