Information for Verizon Shareholders Regarding our Renewable Energy Shareholder Proposal
APRIL 14, 2016: Trillium Asset Management has published a letter to shareholders of Verizon Communications Inc. (NYSE: VZ) urging them to vote in favor of our renewable energy proposal, which appears as item # 4 on the company’s 2016 proxy card.
The rapid growth of the digital economy has given the telecommunications sector the opportunity to drive significant change in the demand and consumption of clean energy. With the continued growth of data usage and the corresponding demand for more energy, there is a stronger emphasis on the need for companies to diversify their energy sources. Although energy efficiency is crucial for reducing emissions, there is a limit to how far operational efficiencies can carry a company relative to the reductions needed to mitigate the impacts of climate change.
By setting goals to source renewable energy, Verizon would demonstrate a proactive approach to reducing exposure to volatile energy prices; enhancing U.S. energy security; creating jobs in the United States; enhancing Verizon’s reputation; achieving its greenhouse gas (GHG) reduction targets; and meeting the global need for cleaner energy.
Shareholders are requesting that:
“…Verizon Communications senior management, with oversight from the Board of Directors, set company-wide quantitative targets by September 2016 to increase renewable energy sourcing and/or production.”
Shareholders will vote on the proposal at the Verizon’s annual meeting, which takes place on May 5, 2016.
You can read more about our rationale for a “Yes” vote by clicking here.
For more information: Randy Rice, Trillium Asset Management, firstname.lastname@example.org, 617-515-6889
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