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Investors challenge nine oil and gas companies on hydraulic fracturing practices
January 21, 2011 – Leading U.S. investors today announced they have filed shareholder resolutions with nine oil and gas companies, pressing them to disclose their plans for managing water pollution, litigation and regulatory risks that are increasingly associated with ever-expanding natural gas hydraulic fracturing operations (also known as “fracking”) in the United States.
INCR Director Mindy S. Lubber Issues Statement in Support of Extension of Renewable Energy Convertible Tax Credit Program
February 15, 2011 – With nothing less than investment in America’s economic future at stake, the Investor Network on Climate Risk strongly supports extending the credit for the renewable energy convertible tax credit program (provided under Section 1603 of H.R. 1).
Investors Representing More Than $15 Trillion Call for U.S., International Action on Climate Change
November 16, 2010 – The world's largest global investors have a powerful message for climate negotiators in Cancun and the new U.S. Congress: take action now in the fight against global warming or risk economic disruptions far more severe than the recent financial crisis.
68 Leading Investors Issue Joint Statement Opposing Proposition 23
October 19, 2010 – Sixty-eight major investors collectively managing $415 billion in assets today issued a joint statement urging a “No” vote on Proposition 23, the California ballot initiative that would halt implementation of the state’s landmark, bipartisan clean energy law. The signed statement was unveiled at a news media teleconference at 11 a.m. Pacific Time.
Valero, Tesoro and Occidental Face Shareholder Pressure for California Proposition 23 Support
October 13, 2010 – Responding to the oil companies’ financial backing for California’s controversial Proposition 23, investors today announced they have filed shareholder resolutions with Occidental Petroleum (Occidental), Valero Energy Corp (Valero) and Tesoro Corporation (Tesoro) requesting Board-level review and oversight of the companies’ political expenditures and policies. Proposition 23 aims to suspend California’s landmark global warming law and, if passed, would undermine national efforts to reduce pollution causing climate change.
Investors Managing $2.5 Trillion Press Energy Companies to Better Disclose Spill Prevention and Response Plans for Deepwater Wells Worldwide
August 5, 2010 – In the wake of significant financial losses from the BP oil spill and in response to a proliferation of deepwater offshore drilling worldwide, more than 50 U.S. and other global investors have sent letters to major energy companies asking them to disclose information regarding their risk oversight measures, including spill prevention and response plans, for their own offshore oil operations around the world.
Investors Achieve Record Results on Climate Change
July 7, 2010 – Investors filed an unprecedented number of shareholder resolutions in 2010 pressing companies to boost their attention to the risks and opportunities posed by climate change. Key results were achieved, including majority votes at coal mining company Massey Energy (53.1%) and water infrastructure services company Layne Christensen (60.3%).
Investors File a Record 95 Climate Change Resolutions: a 40% Increase Over 2009 Proxy Season
March 4, 2010 – Leading U.S. investors today announced that they have filed a record 95 climate change shareholder resolutions with 82 U.S. and Canadian companies that face far-reaching business challenges from climate change. The 40 percent increase in resolutions filed over last year is a first sign of the growing pressure on companies to disclose climate risks and opportunities in the wake of the recent Securities and Exchange Commission’s climate disclosure guidance and other recent policy developments.
Investors Managing $2.1 Trillion in Assets Praise SEC for Climate Disclosure Guidance
March 3, 2010 – More than 50 leading investors today sent a letter to the U.S. Securities and Exchange Commission re-affirming their support for the SEC's recent issuance of interpretive guidance clarifying what publicly-traded companies need to disclose to investors in terms of climate change-related material risks and opportunities they face.
Investors Representing $13 Trillion Call on U.S. and Other Countries to Move Quickly to Adopt Strong Climate Change Policies
January 14, 2010 – On the heels of international climate treaty talks in Copenhagen, the world’s largest investors today released a statement calling on the U.S. and other governments to move quickly to adopt strong national climate policies that will spur low-carbon investments to reduce emissions causing climate change. Private-sector investors will likely be responsible for financing more than 85 percent of the global transition to a low-carbon economy.
New Report: Investment Managers Still Lagging in Response to Climate Change Risks and Opportunities
January 6, 2010 – Although there is overwhelming scientific consensus that climate change is underway and governments are imposing regulations to curb greenhouse gases, the vast majority of the world's largest investment managers are not factoring climate-related trends into their short- and long-term investment decision-making, the result being significant 'hidden risks' in the trillions of dollars of investment portfolios they are managing.
Note to Investors: Energy Efficiency Measures Can Enhance Value of Real Estate Portfolios
December 21, 2009 – A new report, “Energy Efficiency in Real Estate Portfolios: Opportunities for Investors,” says that proven, existing efficiency technologies in everything from lighting to climate control and more can unlock the untapped reserves of efficiency gains buried in many real estate holdings.
Largest Group Ever of World Investors Calls for Strong Global Climate Change Treaty
September 16, 2009 – The world’s largest global investors issued a joint call today for strong action this year from U.S. and international policy makers in the fight against global warming.
Investors Achieve Major Company Commitments on Climate Change
August 24, 2009 – A record 68 climate-related shareholder resolutions were filed by investors this year, of which 31 were withdrawn after the companies agreed to positive climate-related commitments. Six of the 28 resolutions that went to a vote achieved 30 percent or greater support, including one filed with coal company Massey Energy that received 45.6 percent support, or $458.1 million in shares.
Investors With $1.4 Trillion in Assets Call on the SEC to Improve Disclosure of Climate Change and Other Risks
June 12, 2009 – Members of the Investor Network on Climate Risk (INCR) and other leading global investors sent a letter to the U.S. Securities and Exchange Commission (SEC) on Wednesday requesting that the Commission address corporate disclosure of climate change and other material environmental, social, and governance (ESG) risks in securities filings.
Home Depot Lags Behind its Peers on Energy Efficiency & Savings, Faces Shareholder Vote on its Energy Plan at May 28 Annual Meeting
May 27, 2009 – As Lowe’s, Wal-Mart and other big box retailers gain competitive advantage with strong, cost-saving energy efficiency programs, Home Depot (NYSE: HD) faces a shareholder vote on its energy plan at its May 28 Annual General Meeting.
Leading Global Investors Call on Car Manufacturers to Provide Greater Transparency on Risks from Climate Change
March 4, 2009 – Institutional investors released new climate disclosure guidelines for the auto industry today and called on car manufacturers to strengthen their reporting on the risks and opportunities presented by climate change.
Investors with $3 Trillion Urge Congress to Pass Strong Energy and Climate Change Legislation to Boost Economy
February 25, 2009 – Echoing the same energy and climate change policies that President Obama trumpeted in his speech to Congress last night, a group of 35 investors with over $3 trillion in assets today called on Congressional leaders to pass strong legislation to advance a clean energy, low-carbon economy and U.S. competitiveness.
Southern, Massey Energy and Chevron Among Nine 'Climate Watch' Companies Targeted by Investors
February 18, 2009 – Leading U.S. investors today named nine companies to a Climate Watch List, citing concerns that the firms are lagging behind their industry peers and are potentially undermining their long-term competitiveness in responding to the business challenges from global climate change. Investors filed shareholder resolutions with eight of the nine companies—and 49 other businesses—aimed at improving their focus and attention to the financial risks and opportunities from climate change.
Nation’s Largest Investors Call for ‘Green Recovery’
January 26, 2009 – A group of 44 investors managing over $1.7 trillion in assets called on Congressional leaders today to include significant funding for energy efficiency, clean energy and clean transportation in the economic stimulus bill being debated this week on Congress.
Investor Delegation to Present Largest Ever Investor Petition on Climate Change to UN Negotiators at Poznan Conference
December 8, 2008 – For the first time ever, an investor delegation will personally present a call for action on climate change to world leaders at the UN climate conference in Poznan. The Statement, signed by 152 global investors worth over $9 trillion, calls on world leaders to negotiate a strong and binding successor to the Kyoto Protocol to ensure that investors receive the market signals critical to funding the transition to a low-carbon economy.
Leading Institutional Investors Survey Asset Managers on their Analysis of Climate Risks
December 3, 2008 – Today seven leading institutional investors who are members of the Investor Network on Climate Risk (INCR) called on the top 500 global asset managers to respond to a survey on how they are evaluating climate risks and opportunities.
Largest Group Ever of World Investors Warns a New Global Climate Deal Must Be “Strong and Binding” to Unlock a Low Carbon Future
November 11, 2008 – More than 130 leading investors, representing assets worth $6.4 trillion, today warned world leaders that any global agreement on climate change must be strong and binding to guarantee necessary financing for global emissions reduction and adaptation efforts, and that the financial crisis should not delay efforts to address rising global temperatures.
Investors call on SEC to require better disclosure on climate change and other risks
October 23, 2008 – Fourteen of the nation’s largest institutional investors called on the Securities and Exchange Commission yesterday to require improved corporate climate risk disclosure and—for the first time—address a broader range of environmental, social and governance risks, or so-called “ESG” issues, in disclosure requirements.
Investors Call on SEC to Expand Climate Reporting Requirements to Include Oil Sands
September 9, 2008 – A group of investors representing over $700 billion in assets, and environmental organizations, called on the U.S. Securities and Exchange Commission (SEC) yesterday to address climate-related risks in its proposed rule revising oil and gas reporting requirements.
Investors Achieve Major Company Commitments on Climate Change
August 20, 2008 – 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.
Investors with $1.5 Trillion in Assets Call on Congress to Extend Renewable Energy and Energy Efficiency Tax Credits
July 29, 2008 – A group of 43 investors managing over $1.5 trillion in assets called on the U.S. Senate today to extend tax credits for renewable energy and energy efficiency projects by at least five years to 2013. The tax credits are set to expire at the end of this year. Investors sent the letter to Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell in advance of expected Senate debate on the topic this week.
Investors Praise Language in Senate Funding Bill Urging the SEC to Issue Guidance on Corporate Climate Risk Disclosure
July 18, 2008 – The Senate Appropriations Committee has approved language in the Financial Services Appropriations bill calling on the Securities and Exchange Commission (SEC) to issue guidance for publicly-traded companies to assess and fully disclose their financial risks from climate change. The language follows repeated calls by investors for the SEC to issue such guidance, as well as a hearing on this topic last fall in the Securities, Insurance, and Investment Subcommittee of the Senate Banking Committee, chaired by U.S. Senator Jack Reed of Rhode Island.
“Major Progress" Seen on Key Climate, Independent Chair Votes at ExxonMobil Annual Meeting
May 29, 2008 – Shareholder advocates received substantial support today on a range of “hot button” items on the proxy at the Exxon Mobil Corporation (NYSE: XOM) annual meeting. Votes were cast on five key resolutions focused on climate change issues and the separation of the ExxonMobil CEO and chair of the board.
After Ford Takes Historic Step, GM Faces Shareholder Vote Next Week Seeking a Comparable Plan for a Major Cut in Greenhouse Gas Emissions
May 27, 2008 – Ford (NYSE: F) joined religious and other institutional shareholders to announce on April 9, 2008 that it is the first U.S. auto company to spell out how it plans to reach the goal of reducing by at least 30 percent the greenhouse gas (GHG) emissions from its new vehicle fleet by 2020. Two months later, General Motors (NYSE: GM), which has not yet taken such an action, will face on June 3, 2008 a shareholder resolution calling for a comparable plan for a greenhouse gas emissions cut.
19 Institutional Investors with 91 Million Exxon Mobil Shares Pressure Oil Company on Global Warming and CEO/Board Chair Separation
May 21, 2008 – Nineteen institutional investors – including some of Exxon Mobil’s largest shareowners – with more than $740 billion in combined assets under management are voting next week in support of resolutions asking Exxon Mobil Corporation (NYSE: XOM) to address climate change risks and opportunities and separate the Chairman and CEO positions.
Investors Managing $2.3 Trillion Call on Congress to Tackle Global Climate Change
May 20, 2008 – More than 50 leading investors, including the nation’s largest public pension fund and the world’s largest listed hedge fund, today called on the U.S. Senate to enact strong federal legislation to curb the pollution causing global warming. In advance of the upcoming Senate debate on the Lieberman-Warner climate bill early next month, the group issued a letter today to Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell, calling for a national climate policy to reduce U.S. greenhouse gas emissions by at least 60 to 90 percent below 1990 levels by 2050.
Proxy Voting Firms Urge Support for Global Warming Shareholder Resolution Filed with CONSOL Energy
April 25, 2008 – Citing the coal company’s poor disclosure regarding potential financial risks it faces from climate change, two leading proxy voting advisory firms, Proxy Governance, Inc. and ISS Governance Services, have both recommended that investors support a shareholder resolution filed with Pittsburgh-based CONSOL Energy (NYSE:CNX) seeking greater disclosure on the company’s strategies for responding to climate change.
Shareholders Laud Ford as First U.S. Automaker to Set “Clearly Defined Goal” For a Major Cut in Greenhouse Gas Emissions
April 9, 2008 – The decision by Ford to publish its emission target came in the wake of climate-related shareholder resolutions put forward by members of the Interfaith Center on Corporate Responsibility (ICCR) and the Investor Network on Climate Risk Network (INCR) organized by Ceres.
Investors Get Action from Dynegy on Climate Change
March 18, 2008 – Investors announced today that Dynegy, a Houston-based company that provides wholesale electricity to utilities, cooperatives, municipalities and other energy companies in 15 states, has agreed to prepare a report for shareholders on how it is responding to business challenges posed by climate change, such as emerging regulations to limit greenhouse gas emissions.
Investors File Record Number of Global Warming Resolutions with U.S. Companies
March 6, 2008 – Leading U.S. investors today announced that they have filed a record 54 global warming shareholder resolutions with U.S. companies that face far-reaching business impacts from climate change. The resolutions are nearly double the number filed just two years ago.
U.S. and European Investors Tackle Climate Change Risks and Opportunities
February 14, 2008 – Nearly 50 leading U.S. and European institutional investors managing over $1.75 trillion in assets today released a climate change action plan at the United Nations that will boost investments in energy efficiency and clean energy technologies and require tougher scrutiny of carbon-intensive investments that may pose long-term financial risks. Additionally, European investors managing $6.5 trillion in assets supported the action plan "in principle."
Investors praise U.S. Senate leaders for pushing SEC to require full corporate disclosure of climate change risks
December 7, 2007 – Investors today praised Senate leaders, Sen. Chris Dodd, D-Conn., and Sen. Jack Reed, D-R.I., for sending a letter yesterday to Securities and Exchange Commission Chairman Christopher Cox urging the SEC to issue guidance on information companies should be disclosing about financial risks they face from climate change. Dodd is chairman of the Banking, Housing and Urban Affairs Committee and Reed is chairman of the Subcommittee on Securities, Insurance and Investment.
Investors Seek Strong Environmental Measures in Energy Bill
November, 15, 2007 – Thirty leading investors, who manage retirement funds for millions of Americans, today sent a letter to Congress urging passage of a national energy bill that includes strong measures for expanding clean energy, reducing oil dependence and curbing global warming pollution.
Investors Push Congress for Full Corporate Disclosure on Climate Change Risks
October 31, 2007 – Leading investors and legal experts told a Senate Subcommittee today that the Securities and Exchange Commission needs to take action to require better disclosure by U.S. companies on the financial risks they face from global climate change.
Citi and INCR Report: Tougher CAFE Standards May Be Profitable for Auto Industry and Shareholders
October 31, 2007 – A new analysis by Citi and the Investor Network on Climate Risk finds that the Senate proposal to raise fuel economy standards for U.S. cars and trucks will have only a minor impact on shareholders of auto companies.
Investors Achieve Record Results in 2007 in Spurring Corporate Action on Climate Change
August 13, 2007 – Investors engaging with US companies on the financial risks and opportunities from climate change had their most successful year ever during the 2007 proxy season. A record 43 climate-related shareholder resolutions were filed with US companies this year, of which 15 led to positive actions by businesses such as ConocoPhillips, Wells Fargo and Hartford Insurance. Shareholders withdrew their resolutions after the companies made their climate-related commitments.
Investors Managing $2 Trillion Attending Live Earth Concert to Join Fight to Stop Global Warming
July 6, 2007 – When the seven continent Live Earth concert kicks off Saturday at the Meadowlands, a dozen of America's largest institutional investors will be part of the crowd calling for action to fight global warming.
The State of Florida Pension Fund Joins Investor Network on Climate Risk
June 7, 2007 – In another sign of Florida's heightened focus on the business impacts of global warming, the State Board of Administration of Florida announced today that it is joining the Investor Network on Climate Risk (INCR), a national network of investors focused on the financial risks and investment opportunities posed by climate change.
Investors Call on Ford Motor Co. to Support National Climate Policy and Set Greenhouse Reduction Goals
May 9, 2007 – In the wake of General Motors’ endorsement of a national climate change policy calling for a 60 to 80 percent reduction in U.S. greenhouse gas emissions by 2050, leading institutional investors today called on the Ford Motor Co., which is holding its annual corporate meeting Thursday May 10, to take the same step.
Investors Managing $4 Trillion Call on Congress to Tackle Global Climate Change
March 19, 2007 – For the first time, dozens of institutional investors managing $4 trillion in assets today called on US lawmakers to enact strong federal legislation to curb the pollution causing global climate change. Joined by a dozen leading US companies, the investor group outlined the business and economic rationale for climate action as they called for a national policy that reduces greenhouse gas emissions consistent with targets scientists say are needed to avoid the dangerous impacts of global warming.
New Report Warns of Investor Risks from TXU Coal Strategy
February 26, 2007 – Amid recent reports that TXU Corp. will be acquired by a private equity firm and will scale back its plan to build 11 new coal-fired power plants in Texas, the Ceres investor coalition today issued a new report about wide-ranging financial risks that TXU investors face from the company’s original proposal to build 11 new coal-fired power plants in Texas.
TXU, Exxon Mobil Among 10 'Climate Watch' Companies Targeted by Investors
February 13, 2007 – A group of leading US investors today announced the formation of a Climate Watch List, a list of 10 companies that have been identified as lagging behind their industry peers in their responses to climate change. As part of this effort, investors have filed shareholder resolutions with the 10 companies – and 26 other US businesses – aimed at improving their focus and attention to the business risks and opportunities from climate change.
AIG Global Investment Group Joins Investor Network on Climate Risk
October 24, 2006 – AIG Global Investment Group (AIGGIG) has joined the Ceres-coordinated Investor Network on Climate Risk (INCR), a network of institutional investors and financial institutions focused on the financial risks and investment opportunities posed by climate change.
Leading Investors Worldwide Release Global Framework for Climate Risk Disclosure
October 11, 2006 – A unique global partnership of 14 leading institutional investors and other organizations representing trillions in assets today released the Global Framework for Climate Risk Disclosure to provide specific guidance to companies regarding the information they provide to investors on the financial risks posed by climate change.
Largest Institutional Investors Eclipse $1 Billion Clean Technology Investment Goal
September 21, 2006 – Seizing on a worldwide trend to develop lower-polluting, climate-friendly technologies, the Investor Network on Climate Risk (INCR) announced today that its members have allocated more than $1 billion of their assets to clean technology ventures over the past 18 months. The investments, announced at the Cleantech Venture Forum XI in New York, cover such technologies as hydrogen fuel cells, alternative and renewable energy, water and advanced materials.
PA State Treasurer Joins INCR and Creates Clean Technology Fund
September 7, 2006 – Pennsylvania State Treasurer Robert P. Casey, Jr. today announced a new investment strategy for the Commonwealth that will promote greater public and private investments in clean technologies, such as alternative and renewable energy sources, and provide superior returns for taxpayers.
2006 Proxy Season Produces Positive Results on Climate Change
July 14, 2006 – Investors were enormously successful engaging with companies on climate change during the 2006 proxy season. More than two-dozen climate-related shareholder resolutions were filed with U.S. companies, many of which were ultimately withdrawn by shareholders after a satisfactory pledge by the company to implement the request.
Investors Call on SEC To Require Corporate Disclosure on Climate Change
June 14, 2006 – More than two-dozen institutional investors, managing more than $1 trillion of assets, today called on the U.S. Securities and Exchange Commission (SEC) to require publicly-traded companies to disclose the financial risks of global warming in their securities filings.
Concerned That Exxon Mobil's Handling of Climate Change Lags Behind Other Competitors, U.S. Institutional Investors Seek Meeting with Exxon Board
May 18, 2006 – Seventeen leading U.S. pension funds and other institutional investors controlling $658 billion in assets are pushing for a face-to-face-meeting with independent members of the Exxon Mobil board of directors as a result of growing financial world concerns that ExxonMobil is "a company that fails to acknowledge the potential for climate change to have a profound impact on global energy markets, and which lags far behind its competitors in developing a strategy to plan for and manage these impacts."
Investors Concerned About TXU's Aggressive Coal Strategy
May 16, 2006 – Several of the nation's largest institutional investors contacted TXU Corp. this week requesting additional information about the company's plan to build 11 new pulverized coal-fired power plants in Texas at an estimated cost of $10 billion. The letter was sent in advance of the Dallas-based company's annual shareholder meeting Friday, May 19.
Leading Investors in INCR Support Principles for Responsible Investment
April 27, 2006 – A half-dozen leading investors in the Ceres-coordinated Investor Network on Climate Risk (INCR) today signed onto the Principles for Responsible Investment (PRI), which provide a framework for investment managers to factor environmental, social and governance considerations in protecting the long-term interests of their clients and pension beneficiaries.
ExxonMobil Investors Give Record Voting Support to Climate Change Resolution
May 25, 2005 - Shareholders at the ExxonMobil Corp. gave record high voting support today to a shareholder resolution seeking greater analysis and disclosure from the company about the financial impacts posed by global climate change.
U.S. & European Investors Tackle Climate Change Risks and Opportunities at the UN
May 10, 2005 – Two-dozen leading U.S. and European institutional investors managing over $3 trillion in assets on May 10 released a 10-point action plan calling on U.S. companies, Wall Street firms and the Securities and Exchange Commission to intensify efforts to provide investors with comprehensive analysis and disclosure about the financial risks presented by climate change. The group also pledged to invest $1 billion in prudent business opportunities emerging from the drive to reduce greenhouse gas emissions.
U.S. Companies Face Record Number Of Global Warming Shareholder Resolutions On Wider Range Of Business Sectors
February 17, 2005 - Oil and gas companies, electric power producers, real estate firms, manufacturers, financial institutions and automakers face a record number of global warming resolutions that have been filed by shareholders for the 2005 proxy season.
