Despite SEC Action, Shareholders Push ExxonMobil for Progress on Climate Change

They can run, but they can’t hide. Efforts by ExxonMobil to squelch shareholder initiatives on climate change have led to escalation, including a high-visibility call to withhold votes for the nominees for the company’s board. Directors at Exxon Mobil Corp. are facing a withhold campaign from two institutional shareholders alleging the energy company has failed…

ISS Endorses Shareholder Challenge to Dominion Energy

Majority Action is calling on Dominion Energy to appoint an independent board chair because “the board’s composition and the qualifications and outside connections of board members in key leadership positions call into question whether the board is well-positioned to provide independent oversight.” Proxy advisory firm ISS has recommended a vote in favor of the resolution….

Net-Zero by 2050 — Report from Climate Majority Action

Investors are increasingly making the business case for taking action on climate change. The collective choice problem inherent in planet-wide environmental issues, amplified by the distorting impact of often-undisclosed political donations from corporate executives and billionaires (see our work on the fake dark money front group Main Street Investors Coalition) has left investors, particularly long-term, passive investors like…

Report: Pensions in a Changing Climate

A new report from Share Action finds that pension funds are not doing an adequate job of disclosing climate risk in their portfolios. The most striking finding of our analysis reveals that over 60% of pension funds publish little or no information on their climate responses, placing them at risk of breaching their legal duties…

A.G. Underwood Files Lawsuit Against Exxonmobil For Defrauding Investors Regarding Financial Risk The Company Faces From Climate Change Regulations  | New York State Attorney General

Attorney General Barbara D. Underwood today announced a lawsuit against Exxon Mobil Corporation (“Exxon”), alleging that the company misled investors regarding the risk that climate change regulations posed to its business. As alleged in the complaint, Exxon for years assured investors that it was accounting for the likelihood of increasingly stringent regulation of greenhouse gas…

Walden Asset Management and CalSTRs Ask NAM Members Why They Support Main Street Investors Coalition

Walden Asset Management released this statement today: Investors led by Walden Asset Management and the California State Teachers’ Retirement System (CalSTRS) called on 45 companies sitting on the Executive Committee and Board of the National Association of Manufacturers (NAM) to end the trade association’s attacks on shareholders. The investors’ letter asks the companies to distance…

US SIF: Sustainable, Responsible, and Impact Investing Trends Report

US SIF has published a new report on sustainable, responsible, and impact investing trends, noting a one-third increase: The demand for sustainable and impact investing is growing—investors now consider environmental, social and governance (ESG) factors across $8.72 trillion of professionally managed assets, a 33 percent increase since 2014. Money managers and institutional investors are scrutinizing…

Main Street Investors and Its Affiliate Keep Trying, Keep #Failing

Two recent articles from the Main Street Investors Coalition and its affiliate, The American Council for Capital Formation, and our responses: The affiliate of the corporate-funded, lobbyist-led, climate change-denying, fake front group for corporate CEOs, the Main Street Investors Coalition, is run by the same director, funded by the same corporations, and has a similarly…

Another #Fail from A Main Street Investors Coalition Defender

Former communications consultant for the oil and gas industry David Blackmon tries to defend the corporate funded, lobbyist led, climate change denying Main Street Investors Coalition with a column in Forbes that describes VEA Vice Chair Nell Minow as “Neil Minow” and misgenders her as “he.”* The rest of the piece is equally sloppy, filled…

More Corp-splaining and Denial on ESG/SDG

Sean Di Somma, who has been commenting on my critiques of the fake, industry-funded front group Main Street Investor Coalition (hint: they are not from Main Street and they don’t have any investors representatives on their board), now is endorsing their agenda by complaining about ESG regulation and proxy advisors. So-called “environmental, social, and governance”…