According to new data released by Ceres, shareholders in the US continue to show interest in disclosures regarding companies exposure to climate change risks. At the annual round of corporate shareholder meetings (aka proxy season) representing $500 billion in assets, Ceres reports that a total of 110 climate change and environmental sustainability-related resolutions were filed with 94 companies based in the US.
According to Ceres data, the number of investor resolutions relating to climate change and environmental sustainability has increased more than three fold from around 30 a decade ago to more than 100 last year.
Some of the more popular resolutions related to concerns about traditional and unconventional oil and gas including about fracking, flaring, methane emissions reductions, energy efficiency, renewables, and carbon bubble (fossil fuel reserve risks). Investors withdrew more than 40 resolutions after the companies made positive commitments.
Shareholders are also increasingly demanding greater transparency, disclosure and accountability. However, coal companies are among those who are resistant to shareholder requests.
© 2013, Richard Matthews. All rights reserved.
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