From the President
One of the most amazing days of my professional life was the day more than a decade ago that I spent as keynote speaker for a conference of the people in charge of General Motors’ environmental policies and procedures in plants around North America. There were hundreds of them, many of whom had Ph.D.’s. They were very interested and supportive when faced with an unedited speaker advocating stronger environmental policies and complete disclosure of results. On another day, a visit with the General Motors’ crash test dummies, watching steering wheel columns hurtle into the surrogate humans in car seats at …
2008 Advocacy Priorities
For the 2007-2008 shareholder resolution season (which roughly parallels an academic year), Trillium Asset Management Corporation (“Trillium”) has filed 18 shareholder proposals addressing a wide range of environmental and social justice concerns. Thirteen resolutions on which we are acting as lead* filer are highlighted in this article. All the proposals we are involved in are posted on our web site. Among its Wall Street peers, Bank of America (BAC)‘s internal greenhouse gas (GHG) reduction goals look good upon a first read: the bank has pledged that emissions from its own offices by will decline 7 percent from 2004 levels by …
ExxonMobil – Greenhouse Gas Emissions Reduction (2008)
WHEREAS The International Energy Agency warned in its 2007 World Energy Outlook that “urgent action is needed if greenhouse gas [GHG] concentrations are to be stabilized at a level that would prevent dangerous interference with the climate system.” ExxonMobil operates in countries that have ratified the Kyoto Protocol, obliging them to reduce GHG emissions below 1990 levels by 2012. Yet Kyoto targets may be inadequate to avert the most serious impacts of global warming. Dozens of companies, including competitors ConocoPhillips, BP America, and Shell, have endorsed calls for the US to reduce carbon emissions by 60-80% by 2050. 150 global …
Dow Chemicals – Report on Pesticde Use and Asthma (2008)
WHEREAS: Approximately half of Dow’s end-use pesticide products (73 of 149) may be linked to asthma and other respiratory problems through active or inert ingredients or metabolites. Common Dow pesticide products with ingredients linked to respiratory problems include: FulTime, Dursban, Lorsban, Glyphomax, Tordon, Telone, Starane, Dithane, Widematch, Vikane/Profume and more. According to the Centers for Disease Control and Prevention (CDC), 16 million people in the U.S. suffer from asthma. Since the mid-1980s, asthma rates have reached epidemic levels. CDC states that nearly 1 in 8 school-aged children have asthma, the leading cause of school absenteeism due to chronic illness. Children …
ConocoPhilips – Environmental Impacts of Oil Sands (2008)
WHEREAS ConocoPhillips has considerable interests in oil sands operations in the Canadian boreal forest that mine and upgrade bitumen. ConocoPhillips holds a 9% interest in Syncrude, a joint venture expected to produce 350,000 barrels/day by 2010, and is the operating partner of the Surmont oil sands joint venture project, with a 50% equity stake (potential production: 200,000 barrels per day). The boreal provides critical climate regulation and carbon storage for the earth as a whole. This ecosystem is the breeding ground for 30% of North American songbirds and 40% of our waterfowl. Industrial logging and oil sands have reduced it …
Chevron – Global Environmental Standards Report (2008)
WHEREAS The Chevron Business and Ethics Code places the highest priority on the safety of its staff, community members and the environment where it operates. Corporate Policy 530 “commits Chevron to comply with the spirit and letter of all environmental, health and safety laws and regulations, regardless of the degree of enforcement.” Our company operates in 180 countries, including Africa, Asia and Latin America nations where environmental regimes may be less protective of human health and the environment than in North American and European countries where Chevron operates. CEO David O’Reilly has recognized the importance of our company’s relationships with …
Bank of America – Moritorium on Coal Financing (2008)
WHEREAS Bank of America (BOA) is a diversified financial services company providing banking,investment, investment banking, credit card and consumer finance services.BOA recognizes that its ability to attract and retain customers and employees could be adversely affected “to the extent our reputation is damaged” and that “failure to address, or to appear to fail to address various issues” could damage the Corporation and its business prospects. (2005 Annual Report)BOA also recognizes that: The health of our company is dependent on the health of communities and our society; Climate change and atmospheric pollution represent a risk to the ultimate stability and sustainability …
Alliant Energy – Greenhouse Gas Emissions Reduction (2008)
WHEREAS In 2007, the Intergovernmental Panel on Climate Change found that that “warming of the climate system is unequivocal” and that man-made greenhouse gas emissions are now believed, with greater than 90 percent certainty, to be the cause. In October 2007, a group representing the world’s 150 scientific and engineering academies including the U.S. National Academy of Sciences issued a report urging governments to lower greenhouse gas emissions by establishing a firm and rising price for such emissions and by doubling energy research budgets to accelerate deployment of cleaner and more efficient technologies. In October 2006, a report authored by …
ExxonMobil – Greenhouse Gas Emissions Reduction (2007)
WHEREAS ExxonMobil Corp. “is the world’s largest petroleum and petrochemical enterprise,” and “largest net producer of hydrocarbons in Europe”; “ExxonMobil recognizes that the impact of greenhouse gas emissions [GHG] on society and ecosystems may prove to be significant”; ExxonMobil faces potential strategic challenges from “the competitiveness of alternative hydrocarbon or other energy sources” (2006 10K); Leaders of 25 corporations, including KLM, Statoil, GE International, and Shell UK, wrote European Commission President Barroso (11/27/06) urging “policy inconsistencies and perverse incentives that undermine the effectiveness of climate policy should be eliminated…” and “that scientific opinion across the world is virtually unanimous in …
Anadarko – Greenhouse Gas Emissions Reduction (2007)
WHEREAS Anadarko’s operates in four countries worldwide that have ratified the Kyoto Protocol, which obliges industrialized countries to reduce national greenhouse gas (GHG) emissions below 1990 levels by 2012, and provides financial incentives for non-industrialized participants to reduce their GHG emissions. Since Kyoto was adopted, the urgent need for action to prevent the most damaging effects of climate change has become increasingly clear. To avoid the most dangerous impacts of climate change, experts believe that we must hold CO2 emissions at or near 2004 levels for the next 50 years, but emissions are continuing to rise. British finance minister Gordon …
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