Tag Archive for ‘Investor Network on Climate Risk’
A sustainability advocate argues that it is illogical – and quite myopic – that many large institutional investors refer to shareholder resolutions on climate change and other material issues as “special interest,” “non-routine” or involving “special circumstances.” The opposite is true, she says: if companies aren’t addressing sustainability they won’t be producing long-term value for their shareholders.
A constitutional law expert says the U.S. Supreme Court ‘s January ruling in the Citizens United campaign spending case raises a host of corporate governance issues that should be addressed by legislation before the 2012 Presidential election. “One of the reasons that this is such an objectionable decision,” she argues, “is it allows corporate managers in publicly traded companies to spend what Justice Brandeis called ‘other people’s money.'”
A major new paper from Ceres, the investor and environmental group, “is a guide to companies on their journey to comprehensive sustainability – from the boardroom to the copy room – and throughout the supply chain,” says the organization’s president.
The resolutions, up 40% from last year, have been presented to some of the nation’s largest coal companies, electric power and oil producers, home builders, big box retailers, financial institutions and other businesses thought to be not adequately disclosing and managing potential climate-related business impacts.
In an action hailed by environmental groups as “ground-breaking,” the U. S. Securities and Exchange Commission voted to provide guidance to publicly-listed companies regarding the level and quality of their disclosures on climate change and its “material” impact on their businesses.
The CEO of a leading socially responsible investment firm thinks it’s curious that the U.S. Chamber of Commerce, which ostensibly represents the business community, “has not only chosen to oppose climate change solutions but continues to advance the specious argument that we face a stark choice between the environment and the economy – that addressing climate change will somehow be bad for business and cost us jobs. The opposite is the case.”