Bank of America – Fossil Fuel Financing (2022)
Climate change is a global challenge that continues to gain widespread attention for its numerous, significant environmental and social impacts. Fossil fuels are hot button political and significant policy issues, because of their impacts on the global climate, local environments, and human rights. Exceeding 1.5 degrees Celsius presents risks to the economy, investors, and banks’ profitability: limiting global warming to 1.5 degrees versus 2 degrees has been projected to save $20 trillion globally by 2100, and exceeding 2 degrees could lead to climate damages in the hundreds of trillions. Estimates find 10% of total global economic value stands to be …
United Parcel Service – Emissions and Climate (2021)
WHEREAS: In 2018, the Intergovernmental Panel on Climate Change updated the goals of the 2015 Paris Agreement to advise that net carbon emissions must fall 45 percent by 2030 and reach net zero by 2050 to limit warming below 1.5 degrees Celsius, thereby preventing the worst consequences of climate change. However, in 2020, the UN reported the world is “way off-track” from achieving these goals. Climate change impacts present risks to investors. A warming climate is associated with increased supply chain disruptions, reduced resource availability, lost production, commodity price volatility, infrastructure damage, political instability, reduced worker efficiency, and adverse health …
Bank of America – Financing Related to the Arctic (2021)
WHEREAS: Climate change is a global challenge that continues to gain widespread attention for its numerous, significant environmental and social impacts. Particular subsectors of fossil fuels, including Arctic exploration and production, have become hot button political and significant policy issues, because of their impacts on the global climate, the local environment, and Indigenous rights. Protests surrounding drilling in the Arctic are among the high-profile concerns. Through 2019 and 2020, Morgan Stanley, Goldman Sachs Group Inc., JPMorgan Chase & Co., Citibank, and Wells Fargo & Co. made commitments amounting to a rejection of much funding of oil and gas development in …
Chipotle – Emissions and Climate (2020)
Whereas: In October 2018, the Intergovernmental Panel on Climate Change (IPCC) amplified the urgency behind the 2015 Paris Climate Agreement cautioning it will be necessary to limit global warming to 1.5 degrees Celsius, rather than two degrees Celsius, to minimize the worst impacts of climate change. Achieving this will require deep greenhouse gas (GHG) emissions reductions in all sectors. The 2018 National Climate Assessment found “climate change presents numerous challenges to sustaining and enhancing crop productivity, livestock health, and the economic vitality of rural communities,” and rising temperatures are “the largest contributing factor to declines in the productivity of U.S. …
United Parcel Service- Climate Change (2020)
Whereas: In 2018, the Intergovernmental Panel on Climate Change advised that net carbon emissions must fall 45 percent by 2030 and reach net zero by 2050 to limit warming below 1.5 degrees Celsius, thereby preventing the worst consequences of climate change. The Fourth National Climate Assessment report (2018) finds that with continued growth in emissions, “annual losses in some U.S. economic sectors are projected to reach hundreds of billions of dollars by 2100.” Climate change impacts present risks to investors. A warming climate is associated with increased supply chain disruptions, reduced resource availability, lost production, commodity price volatility, infrastructure damage, …
Marathon Petroleum – Climate Change (2020)
RESOLVED: Shareholders request that the Marathon Petroleum Corporation (“Company”) board of directors develop a strategy to increase the scale and pace of the Company’s efforts to reduce its contribution to climate change, including establishing any medium- and long-term goals deemed appropriate by board and management that demonstrate this increased pace, with an eye toward the global commitments of the Paris Agreement. SUPPORTING STATEMENT: In 2016 the Paris Agreement set a goal of keeping global temperature rise well below 2 degrees Celsius. This has resulted in national, state, and local regulations to address climate change and reduce greenhouse gas (GHG) emissions, …
J. B. Hunt – Climate Change (2020)
Whereas: In 2018, the Intergovernmental Panel on Climate Change advised that net carbon emissions must fall 45 percent by 2030 and reach net zero by 2050 to limit warming below 1.5°C thereby preventing the worst consequences of climate change. The Fourth National Climate Assessment (2018) reports that with continued growth in emissions, “annual losses in some U.S. economic sectors are projected to reach hundreds of billions of dollars by 2100.” Climate change impacts present systemic portfolio risks to investors. A warming climate is associated with supply chain dislocations, reduced resource availability, lost productivity, commodity price volatility, infrastructure damage, and an …
Illinois Tool Works – Greenhouse Gas Emissions (2019)
Resolved: Shareholders request Illinois Tool Works, Inc. (ITW) adopt quantitative, company-wide targets for reducing greenhouse gas (GHG) emissions, consistent with the goals of the Paris Climate Agreement, and report annually, at reasonable cost and omitting proprietary information, on its plans and progress towards achieving these targets. Supporting Statement: Proponents recommend ITW consider the methods outlined by the Science Based Targets Initiative (sciencebasedtargets.org) to ensure its emissions reductions targets are consistent with the ambitions of the Paris Climate Agreement. Whereas: Scientists expect that failure to mitigate climate change will lead to additional sea level rise, more extreme weather, mass migration, and …
EOG Resources – Methane Emission Reduction Targets (2019)
Resolved: Shareholders request EOG Resources, Inc. (EOG) adopt quantitative targets for reducing methane emissions, and issue a report (at reasonable cost, in a reasonable time, and omitting proprietary information) discussing its plans and progress towards achieving these targets. Supporting Statement: In 2014 a shareholder proposal focusing on methane emission targets at EOG received a 28% vote. An almost identical proposal earned a 31.5% vote in 2015. Whereas: The Paris Climate Agreement of 2015, agreed to by 195 countries, established a target to limit global temperature increases to 2-degrees Celsius above pre-industrial levels. To meet the 2-degree goal and mitigate the …
J. B. Hunt – Greenhouse Gas Emissions (2019)
Resolved: Shareholders request J.B. Hunt Transport Services (JBHT) adopt company-wide, quantitative targets to reduce total greenhouse gas (GHG) emissions, taking into account the goals of the Paris Climate Agreement, and issue a report, prepared at reasonable cost and omitting proprietary information, discussing its plans and progress towards achieving these targets. Supporting Statement: Proponents recommend JBHT consider the methods outlined by the Science Based Targets Initiative (sciencebasedtargets.org) to ensure its emissions reductions targets are consistent with the ambitions of the Paris Climate Agreement. Whereas: The Paris Climate Agreement of 2015 that was agreed to by 195 countries established a target to …
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