Saturday, March 24, 2007

Chevron supports Global Warming

Some good progress was made this week as Al Gore implored Congress to freeze greenhouse gasses at a Capitol Hill hearing and 65+ institutional investors including CalPERS signed a pact encouraging Congress to enact green legislation. The Ceres pact is a follow-up to the 225+ institutional investor launch of the Carbon Disclosure Project in January, 2007 which centralizes emissions reporting from over 1,000 corporations including General Electric, DuPont and Caterpillar at one website.

On the other hand, not in the press and not getting the message at all is Big Oil company Chevron, boldly asking investors to vote against proposal #5 on its annual proxy to "Adopt Goals and Report on Greenhouse Gas Emissions." Not surprising given the entrenchment (some have been board members since 1982 and 1989) and lack of diversity (one female, added in 2006 and two people of color) on its board.

At least many corporations are taking action and even some Big Oil companies such as BP are part of the Carbon Disclosure Project. It will be nice to finally see some improvement in stock prices from companies like GE after their successful multi-year effort to reduce emissions.

13 comments:

LaBlogga said...

ConocoPhillips has a similar proxy ballot item #04. Directors Recommend: AGAINST Global Warming-Renewables. There is also ballot item #08. Directors Recommend: AGAINST Community Accountability

LaBlogga said...

Exxon Mobil has many similar proxy ballot initiatives all of which the company recommends that shareholders vote AGAINST: 14. Community Environmental Impact, 15. Greenhouse Gas Emissions Goals, 16. CO2 Information at the Pump and 17. Renewable Energy Investment Levels

likwidshoe said...

Why are you measuring diversity with skin color and gender? Who cares about those things? Just pick the best person for the job.

LaBlogga said...

Hello likwidshoe, Thanks for the comment. True, of course diversity of gender and color does not mean the diversity of thought but it is a good proxy, and diverse thinkers are definitely best for the job. See Scott Page's book "The Difference" and James Surowiecki's "Wisdom of Crowds" for more information.

David Le Page said...

Yes, well, GE may be looking at some sustainable energy options, but since it also builds nuclear weapons, its commitment to planetary wellbeing is dubious to say the least. (Goodness, you have a long captcha.)

LaBlogga said...

Hi David, Thanks for the comment and great blogs about South Africa and other topics. You're right, GE is not pristine but at least has several positive initiatives with real progress demonstrated vs. the big oil companies most of which do not even give lip service to improvements. Sorry about the long captcha, maybe the Google Blogger software presents something longer for foreign IP addresses.

LaBlogga said...

Morgan Stanley advises shareholders to vote AGAINST a human rights initiative on its 2008 proxy statement.

LaBlogga said...

Verizon's march 2008 proxy statement: Question 04. GENDER IDENTITY NONDISCRIMINATION POLICY, Directors Recommend: AGAINST

LaBlogga said...

Even General Electric, who has substantially greened up in the last several years suggests voting against March 2008 Proxy Item #6.


06. GLOBAL WARMING REPORT, Directors Recommend: AGAINST

LaBlogga said...

CONOCOPHILLIPS April 2008 Proxy items:

08. GREENHOUSE GAS REDUCTION
Directors Recommend: AGAINST

09. COMMUNITY ACCOUNTABILITY
Directors Recommend: AGAINST

11. ENVIRONMENTAL IMPACT
Directors Recommend: AGAINST

05. REPORT ON RECOGNITION OF INDIGENOUS RIGHTS
Directors Recommend: AGAINST

LaBlogga said...

Chevron Texaco's April 2008 Proxy items:

15. GREENHOUSE GAS EMISSIONS GOALS (PAGE 66)
Directors Recommend: AGAINST

16. CO2 INFORMATION AT THE PUMP (PAGE 68)
Directors Recommend: AGAINST

17. CLIMATE CHANGE AND TECHNOLOGY REPORT (PAGE 69)
Directors Recommend: AGAINST

19. RENEWABLE ENERGY POLICY (PAGE 71)
Directors Recommend: AGAINST

LaBlogga said...

More of the same continues...Exxon Mobil's April 2008 Proxy items:

13. COMMUNITY ENVIRONMENTAL IMPACT (PAGE 63)
Directors Recommend: AGAINST

15. GREENHOUSE GAS EMISSIONS GOALS (PAGE 66)
Directors Recommend: AGAINST

16. CO2 INFORMATION AT THE PUMP (PAGE 68)
Directors Recommend: AGAINST

17. CLIMATE CHANGE AND TECHNOLOGY REPORT (PAGE 69)
Directors Recommend: AGAINST

19. RENEWABLE ENERGY POLICY (PAGE 71)
Directors Recommend: AGAINST

LaBlogga said...

Chevron's April 2008 Proxy items:

05. ADOPT POLICY AND REPORT ON HUMAN RIGHTS
Directors Recommend: AGAINST

06. REPORT ON ENVIRONMENTAL IMPACT OF CANADIAN OIL SANDS OPERATIONS
Directors Recommend: AGAINST

07. ADOPT GOALS AND REPORT ON GREENHOUSE GAS EMISSIONS
Directors Recommend: AGAINST