Shareholders in Avis Budget, Home Depot, Chevron, and other companies want more information on the corporate risks of climate change
As Avis Budget Group (CAR) stockholders prepare for the company's annual meeting in Wilmington, Del., on June 12, they're facing unfamiliar terrain. For the first time since the formation of the company three years ago, shareholders are being asked to vote on a shareholder proposal on greenhouse gas emissions. At issue: Should Avis Budget prepare a report on whether it makes sense to cut emissions from the company's rental cars?
Investors in U.S. and Canadian companies have filed 67 global warming-related resolutions during the 2009 proxy season, up from 57 last year, according to Ceres, a national network of investors, environmental organizations, and public interest groups. The increase reflects growing concern among shareholders over the corporate risks of climate change. Some investors fret that if companies don't police themselves, the government will do it for them. Others are concerned over the possible impact of natural disasters or global warming on operations. Many are motivated by a combination of such concerns.
See full Article.
Posts
