Harrington Dumps Sunoco Stocks for Lack of Sustainability
Harrington Investments says it is divesting of Sunoco Corporation stocks after several years of unproductive engagement with the company to improve corporate governance and issues relating to sustainability, News Blaze reports.
Earlier this year, Sunoco rejected plans to create a sustainability board citing that it already has a committee to oversee such issues. What’s more, Sunoco convinced the SEC to allow the proposal for a new sustainability committee to be removed from the 2008 Shareholder ballot so owners were not allowed to vote on the issue.
In response to the lack of action taken towards sustainability issues, Harrington Investments is dumping all Sunoco stocks, with the firm’s CEO John Harrington explaining to News Blaze, “I have been consistently disappointed in Sunoco’s management. They fail to understand that sustainability is not just a matter of stakeholder management.”
Stay Up-to-Date On Environmental Management, Energy & Sustainability News with EL's Free Daily Newsletter
Energy Manager News
- BrandSmart Uses PACE Financing to Upgrade
- GE’s Current Offers Energy-as-a-Service
- ERC: Electricity Price Trends for the Week Ending October 2
- Panasonic Develops Highly Efficient Photovoltaic Module
- Energy Source Provides LEDs to WNA
- LDS Church Lauded by Rocky Mountain Power
- Energy Stats for Boston Buildings Online
- Bowling Green University Tabs Cree for Field House LEDs