Posts tagged Paris Agreement
Barclays: Climate Change Risk Reporting

BE IT RESOLVED:  To promote the long-term success of the Company, given the risks and opportunities associated with climate change, we as shareholders direct the Company to set and disclose targets to phase out the provision of financial services, including but not limited to project finance, corporate finance, and underwriting, to the energy sector (as defined by the Global Industry Classification Standard) and electric and gas utility companies that are not aligned with Articles 2.1(a) and 4.1 of the Paris Agreement (‘the Paris goals’). The timelines for phase out must be aligned with the Paris goals. The company should report on progress on an annual basis, starting from 2021 onwards. Disclosure and reporting should be done at reasonable cost and omit proprietary information.

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Devon Energy: Climate Change Risk Reporting

WHEREAS:  The Intergovernmental Panel on Climate Change warns that global warming above 1.5 degrees Celsius will create catastrophic impacts. Specifically, it instructs that global emissions of carbon dioxide must reach "net zero" by 2050. If warming is kept to 1.5 degrees Celsius versus 2 degrees, studies point to estimated savings of $20 trillion to the global economy by 2100.

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Chevron: Report on Petrochemical Risks

WHEREAS:  Investors are concerned about the financial, health, environmental, and reputational risks associated with operating and building-out new chemical plants and related infrastructure in Gulf Coast locations increasingly prone to catastrophic storms and flooding associated with climate change. Chevron Phillips Chemical Company (CPChem), owned jointly by Chevron and Phillips 66, is a major petrochemical producer in the Gulf Coast.

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Chevron: Climate Change Risk Reporting

WHEREAS:  The Intergovernmental Panel on Climate Change warns that global warming above 1.5 degrees Celsius will create catastrophic impacts. Specifically, it instructs that global emissions of carbon dioxide must reach "net zero" by 2050. If warming is kept to 1.5 degrees Celsius versus 2 degrees, studies point to estimated savings of $20 trillion to the global economy by 2100.

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Duke Energy: Report on Coal Risks

BE IT RESOLVED:  Shareholders request that Duke Energy publish a report assessing how it will mitigate the public health risks associated with Duke’s coal operations in light of increasing vulnerability to climate change impacts such as flooding and severe storms. The report should provide a financial analysis of the cost to the Company of coal-related public health harms, including potential liability and reputational damage. It should be published at reasonable expense and omit proprietary information.

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Marathon Petroleum Corporation: Climate Change Risk Reporting

BE IT RESOLVED: Shareholders request that the Marathon Petroleum Corporation (“Company”) board of directors develop a strategy to increase the scale and pace of the Company’s efforts to reduce its contribution to climate change, including establishing any medium- and long-term goals deemed appropriate by board and management that demonstrate this increased pace, with an eye toward the global commitments of the Paris Agreement.

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Morgan Stanley: Climate Change Risk Reporting

WHEREAS: The World Economic Forum 2015 Global Risk Report ranked water as the top societal risk facing the world in terms of potential economic impact. (1)  The Human Right to Water, formally recognized by the United Nations in 2010, clarifies that it is the responsibility of companies to ensure their operations do not infringe upon the right of individuals to sufficient, safe, acceptable, accessible, and affordable water. This human right is further buttressed by the UN’s Sustainable Development Goal 6, which includes a target for improving water quality by reducing pollution and minimizing the discharge of hazardous chemicals and materials.

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