“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 MoreIBD Senior Reporter Gillian Rich speaks with Danielle Fugere, president of the activist group As You Sow., to learn what's next after Chevron shareholders in May backed proposals for further emission cuts. Read More →
Read MoreAs You Sow, a nonprofit that pushes for corporate accountability through shareholder action, is cautiously optimistic. “You can add new people to the board, but if the company stays on business as usual, then we haven’t solved anything,” says CEO Andrew Behar. 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 MoreExxon has been betting on a continued future for oil and gas, and it has struggled since the coronavirus pandemic slashed oil prices, said Danielle Fugere, president of the activist investor group 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 MoreCorporations holding annual general meetings this month are well familiar with two particularly attentive shareholders: Andrew Behar and Danielle Fugere of As You Sow. Along with groups like CERES and the Interfaith Center for Corporate Responsibility, the Berkeley, Calif., nonprofit has taken the lead in engaging corporations on issues from carbon footprints to workforce treatment. Read More →
Read MoreImpactAlpha, May 21 – Massive flooding in Midland, Michigan on Wednesday threatened to release chemicals from a Dow chemical complex, where products ranging from Saran Wrap to Agent Orange have been produced over years, and an adjacent Superfund site. It’s the kind of nightmare scenario that imperils public health as well as corporate value, and one that investor groups have been sounding the alarm on as global warming increases the frequency of severe weather events… “This should be a warning sign,” says Lila Holzman of As You Sow. 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 MoreFor the global economy to decarbonize quickly, there is no substitute for political leadership from the top.
Read MoreA pair of events over the past few days offers a preview of upcoming investor efforts to push some of the world's largest companies to get more active on global warming.
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 MoreProsecutors in New York are accusing ExxonMobil of trying to discourage potential witnesses from testifying about whether the oil giant misled investors over the costs it may face from future climate regulations.
Read MoreBefore entering ExxonMobil’s annual meeting in Dallas last week, shareholders had to pass local activists holding a 100-foot-long banner with the message “Climate Crisis: #ExxonKnew—Make Them Pay.”
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 MoreExxon Mobil shareholders Wednesday voted down a proposal that would have required the board chair be independent from the company.
Read More
