March 12, 2007—A group of leading US investors recently announced the formation of a Climate Watch List, a list of 10 companies that have been identified as lagging behind their industry peers in their responses to climate change. As part of this effort, investors have filed shareholder resolutions with the 10 companies—and 26 other US businesses—aimed at improving their focus and attention to the business risks and opportunities from climate change.
The Climate Watch companies include electric power companies, oil producers, coal companies, and other businesses that investors believe are not adequately dealing with potential climate-related business impacts, whether from physical changes, emerging climate regulations, or growing global demand for climate-friendly technologies and services.
The resolutions, seeking greater disclosure from companies on their responses and strategies to climate-related business trends, were filed by state and city pension funds and labor, foundation, religious and other institutional shareholders.
The Climate Watch companies include (by industry):
- Banking & Financial: Wells Fargo
- Electric Power: TXU, Dominion Resources, Allegheny Energy
- Coal: Massey Energy and Consol Energy
- Insurance: ACE
- Oil & Gas: ExxonMobil and ConocoPhillips
- Retail: Bed Bath & Beyond.
The list of investors filing resolutions with each of the 36 companies can be found on Ceres’ Web page “2007 Proxy Season – Resolution Tracker“.
