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Shareholder resolutions increase pressure on companies to address climate change

Author: Benjamin Hulac, Environment & Energy Publishing (E&E) (USA), Published on: 9 March 2016

"Spurred by Paris, shareholder climate resolutions reach new high", 9 Mar 2016

Corporate shareholders this year filed more resolutions specific to climate change with U.S. companies than ever before, according to a a new report on stockholder engagement...The study by a coalition of investment analysts found that 94 such proposals -- covering issues from urging greenhouse gas emissions mitigation efforts to demanding the use of more renewable energy -- accounted for about 40 percent of all active resolutions related to the environment or social issues...Investors had submitted 370 resolutions focused on environmental or social issues to public U.S. companies as of mid-February. Of those, 33 percent were related to environmental matters and 7 percent were related to sustainability...Heidi Welsh [Heidi Welsh] notes that the U.N. climate summit in Paris last December and the international agreement that emerged are in part responsible for the surge...[Refers to AES, Anadarko Petroleum, BP, Chevron, Devon Energy, ExxonMobil, Hess Corporation, Noble Energy, Occidental Petroleum, Shell, Southern Co., Statoil, Suncor Energy]

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Related companies: AES Anadarko (now part of Occidental Petroleum) Chevron Devon Energy Equinor (formerly Statoil) ExxonMobil Hess Corporation Noble Energy Occidental Petroleum Shell Southern Company Suncor