Environment
Ceres slams underperformers
Environmental and investor coalition
Ceres has produced a Climate Watch List of
US companies lagging behind their peers in responding to climate change, and
have accordingly filed shareholder resolutions with 10 companies.
The major businesses named by Ceres include
Wells Fargo, where shareholders are
requesting specific greenhouse gas (GHG) reduction aims, and
Exxon Mobil, where five
resolutions have been filed requesting GHG targets and disclosure of plans for responding to climate
legislation.
Mindy Lubber, Ceres president, compared the firms in the
Climate Watch Risk with their peers who are confronting the risks and
opportunities of climate change. He argued those not taking these steps may be
putting in jeopardy their long-term competitiveness and shareholder value.
Meanwhile, the US Securities
and Exchange Commission has rejected a request by
General Electric (GE) to block a shareholder
proposal calling on the company to provide investors with a report on global
warming.
The resolution was filed by the
Free Enterprise Action Fund,
and Tom Borelli of Action Fund Management said he hoped the proposed analyses
would at least compel GE’s chief executive, Jeff Immelt, to consider the impact
of higher energy prices on the company.
Links
Ceres
Wells Fargo
Exxon Mobil
US Securities and Exchange Commission
General Electric
Free Enterprise Action Fund March 2007 |
