Shareholders Want Firms to Cut GHGs
Environmental shareholder proposal submissions remain high in 2014, according to an Ernst & Young report on the 2014 proxy season.
Let’s talk: governance, 2014 proxy season review finds proposals on environmental and social topics accounted for the largest category of proposals submitted at 45 percent — a 5 percent increase over last year’s proxy season. Within this category, two of the more high profile proposals this year include proposals asking companies across a broad range of industries to reduce greenhouse gas emissions and proposals focused on stranded asset risk, asking nearly a dozen companies in multiple industries to disclose risk scenario planning and potential climate change impacts to company business models.
Like in 2013, almost one-third of all shareholder proposals submitted this year were withdrawn, and nearly 80 percent of those withdrawals were the result of company action and/or ongoing dialogue.
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