March 14, 2008—US investors filed nearly twice as many shareholder resolutions with companies that will likely encounter business impacts from climate change.
There were 54 climate change-related resolutions filed in the 2008 proxy season that targeted companies in the electric power, oil, coal, aviation and construction businesses, according to Ceres, a coalition of investors, environmental groups and NGOs working with companies to address sustainability issues.
“Many US companies are confronting the risks and opportunities from climate change, but others are not responding adequately—and they may be compromising their long-term competitiveness as a result,” said Ceres President Mindy S. Lubber. “Investors want all companies to understand the business impacts of climate change—and plan for it accordingly.”
The resolutions focused on companies that investors didn’t believe were adequately addressing climate change from impacts such as future regulations, physical changes or growing demand for low-carbon technologies.
Fourteen of the 54 resolutions have been withdrawn after companies agreed to disclose potential impacts. For more information, see the Ceres Web site.
