Investors Achieve Major Company Commitments on Climate Change

by Sabrina I. Pacifici on August 20, 2008

News release: “Investors engaging with U.S. companies on the financial risks and opportunities from climate change achieved breakthrough results during the 2008 proxy season. A record 57 climate-related shareholder resolutions were filed with U.S. companies, of which nearly half were withdrawn after the companies agreed to positive climate-related commitments. Remaining resolutions that went to a vote received record high average voting support of 23.5 percent, including 39.6 percent support for a resolution filed with coal company CONSOL Energy, the highest vote ever on a global warming shareholder resolution.

The ’08 proxy season was marked by several major victories, including Ford Motor Co.’s detailed plan for reducing greenhouse gas emissions from its vehicles by 30 percent. Two major homebuilders, Centex and KB Home, also announced major commitments to increase the energy efficiency of the homes they build beginning in 2009. These actions will dramatically reduce direct and indirect greenhouse gas emissions from the millions of vehicles and homes that the three companies make each year.”

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