Major Market Players Demand New Energy, Emissions Cuts
Powerful Investors Push Big Companies to Plan for Climate Change; This spring, Wall Street seems more accepting of climate science as shareholders demand plans to reduce risks
David S. Rauf, May 3, 2018 (Scientific American)
“…This year some of the most powerful shareholders, which include giant mutual funds, are supporting the push for businesses to respond to climate change. And the prodding has had more effect than ever before…Most publicly traded companies hold annual meetings in which shareholders, via nonbinding resolutions, signal their approval or dislike of proposed company policies. This year initiatives on climate change are among the most popular ballot items: Of the more than 420 shareholder resolutions initially proposed, about 20 percent focused on climate, tied for the largest of any proposal category, according to a report by the group Proxy Impact. Some resolutions ask companies to adopt greenhouse gas emission targets whereas others ask for reports on ways businesses could be affected by the Paris climate agreement’s global temperature goals…Already, several companies have bowed to investor demands…[because several] major asset managers—like BlackRock and Vanguard Group—are now putting their heft behind climate resolutions…” click here for more
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