The Shareholder Commons, a non-profit advocate for diversified shareholders, today released two case studies focused on the harmful impacts of climate change and antimicrobial resistance. The case studies demonstrate the gap between company-first ESG advocacy and portfolio-first system stewardship and prove to investors that measuring financial success on an enterprise-by-enterprise basis will never motivate companies…
Tag: climate change
Environmental groups ask P&G investors to vote against CEO as board chair
Universal proxy will put more pressure on corporate insiders to engage on these proposals. [E]nvironmentalists have been prodding P&G to make changes on forestry for several years.”These proposals are more powerful because they get more support,” said Nell Minow, vice chair of corporate governance consultancy ValueEdge Advisors, adding that recent regulatory changes make it easier…
Patagonia Founder Gives Away the Company to Fight Climate Change – The New York Times
We have the greatest admiration for Mr. Couinard, who has chosen to turn his vast fortune over to the cause of fighting climate change. But as we have often observed, it is not easy to keep a commercial enterprise vital and sustainable when it is owned by a non-profit. Their risk tolerances as very different….
Larry Fink: Here’s Your Answer to the Despicable Letter from the GOP Attorneys General
From VEA Vice Chair Nell Minow: I’m sure BlackRock CEO Larry Fink’s response to the obnoxious, accusatory, misleading, letter he received from 19 Republican state attorneys general will be measured, diplomatic, and thoroughly lawyered over. He will hope to mollify them to continue to be able to do business with the government pension funds. That is only…
Alan Murray Can’t Understand Why the BRT Likes Climate Change
We’ve highlighted the reason Alan Murray overlooks below in his confessed inability to understand why the BRT left environment out of its recent commitment to social good. [F]or reasons not entirely clear to me, the BRT seems to have lost its environmental enthusiasm. In a Medium post last week, which was intended to reinforce the…
More Investors Vote Against Corporate Directors Over Climate Change – WSJ
Investors are increasingly voting against the election of corporate directors to get companies they see as laggards on climate change to raise their ambitions. So far this year, investors have cited climate change as a reason for opposing the election of a management-backed director at 225 U.S. companies, up from 157 in 2021 and 83…
WSJ Gets Duped on Fake News ESG “Study”
The Wall Street Journal was either duped or disingenuous in an op-ed from Vivek Ramaswamy (author of anti-ESG book Woke, Inc.) and Riley Moore (Treasurer of coal-economy West Virginia) about a study giving bad grades to pension funds and fund managers for supporting the proxy contest at ExxonMobil in 2021. See below: Insight ESG Energy is…
The GOP Is the Party of Gruesome Oil Profiteering | The Nation
“Investor pressure to maintain capital discipline” is a nice way of referring to putting profits ahead of the public good. And that’s precisely what the oil companies are doing. “Big Oil executives are bragging to shareholders about price gouging families at the pump,” said [California Representative Katie] Porter. “They’re purposely keeping supply low to earn…
Comment to the SEC: The Enhancement and Standardization of Climate-Related Disclosures for Investors
From a comment letter to the SEC submitted by former Delaware Supreme Court Justice Leo Strine and others: To frame our comments, we wish to underscore our starting position. If the only choice were to have the rule adopted as proposed, or to not have the rule, we would support adoption of the rule “as…
CalPERS, CalSTRS Criticized for Voting No on Big Oil Shareholder Climate Resolutions | Common Dreams
A report released today from Fossil Free California reveals that California’s public pensions voted to oppose climate action at major fossil fuel companies and financiers during the 2022 Annual General Meeting season. This exposé comes two weeks ahead of an Assembly Committee hearing on SB 1173, a bill that would require the funds to divest from fossil…
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