Carbon Asset Risk Portfolio Resilience Resolutions
During the 2016 Annual General Meeting (AGM) season, investors sent a powerful message: they see climate change as a material financial risk and they are increasingly requesting that the companies they own perform 2 degree stress testing (2DS) to demonstrate portfolio resilience. It's becoming the new norm for risk reporting.
These investor votes underscore the ongoing momentum to limit climate change to well below 2 degrees Celsius, as committed to by 195 countries under the Paris Agreement, and represents how investors are increasingly calling on companies to adapt their business models as the world transitions to a low carbon future.
|COMPANY||RESOLUTION||FILER||PROXY ADVISOR RECOMMENDATION||VOTE %|
|AES Corp.||AES Proposal 4||Mercy Investment||FOR||42%|
|Anadarko||APC Item 5||As You Sow||FOR||42%|
|Chevron||CVX Item 7||Wespath/Hermes||FOR||41%|
|Devon||DVN Item 5||New York State||FOR||36%|
|ExxonMobil||XOM Item 12||New York State/Church of England||FOR||38%|
|FirstEnergy||FE Item 7||As You Sow||FOR||32%|
|Noble Energy||NBL Proposal 5||Presbyterian Church USA||FOR||25%|
|Occidental||Oxy Proposal 5||Wespath/Nathan Cummings Foundation||FOR||49%|
|Southern Co||SO Item 9||Tri-State Coalition for Responsible Investment||FOR||34%|
Moving forward, investors expect fossil fuel companies to come to the table and collaborate to prepare meaningful disclosures to assess the risks and opportunities presented by the energy transition. For more information on how to get involved for the 2017 season, please contact Shanna Cleveland.