From Mike Hitchen Online Let's Hear You! presents selected news and information from non profit organizations and individuals promoting community or rights oriented issues.
Items are selected from a wide range of sources and are not confined to major or international issues. Submissions from individuals or organizations (large or small) are welcome.
British Petroleum Recommends Support for Climate-Related Shareholder Proposal
The British Petroleum Board of Directors, following Royal Dutch Shell's announcement last week, endorsed a shareholder resolution
requiring the company to commit to reduce emissions and invest in
renewable energy, to do away with bonus systems that promote climate
harming activities, and to stress test its business model against the 2
degrees Celsius warming limit adopted by 141 governments in the UN's
Nonprofit As You Sow
co-filed the resolution at BP as part of the "Aiming for A" Coalition
of investors, coordinated by ClientEarth and ShareAction. The initiative
is led by Helen Wildsmith of CCLA Investment Management, the specialist fund firm which runs more than £1.5bn of Church of England
funds. The coalition includes the Global Investor Coalition, CERES,
Christian Brothers Fund, United Church Funds, Connecticut Retirement
Plan, Mercy Health, and many others.
fact that a second supermajor in two weeks has endorsed shareholders'
request for a major shift in business plan to find a climate solution is
a clear signal that we have reached an inflection point," said Andrew Behar,
CEO of As You Sow. "And it is a clear message to policymakers that the
business community supports a robust global climate accord in Paris in 2015."
shareholder resolutions filed by As You Sow at Anadarko and CONSOL
Energy in 2014 were supported by 30% and 18% of shareholders. A similar resolution at ExxonMobil was withdrawn and the company published a report on stranded carbon asset risk.
statement provides evidence that business as usual is no longer working
for shareholders or industry, either from a global warming or markets
perspective," said Danielle Fugere,
President & Chief Counsel of As You Sow. "BP's support of this
resolution demonstrates that they are listening to shareholder