Corporate / Energy
Climate Scientist Joins Exxon Board (02/03)
The oil and gas giant responds to years of shareowner action by appointing atmospheric scientist Susan Avery to its board of directors.
Investors Target Chevron for Doing Business in Burma (12/16)
A shareowner resolution co-filed by Azzad Asset Management requests that Chevron cease doing business with the government of Burma until state-sanctioned violence against the Rohingya minority is ended.
SEC Backs Shareowner Challenge of Dominion Nuclear Plant (05/06)
The utility's effort to exclude the resolution calling for analysis of the financial risks associated with a nuclear reactor which could cost over $19 billion is turned down by the Securities and Exchange Commission.
Despite Climate Commitments, World Bank Still Funding Fossil Fuels (04/22)
Oil Change International reports that the World Bank Group's investments in fossil fuel exploration actually increased in 2015, to $313 million.
Investors Win Battles for Shareowner Votes on Climate at Exxon (04/01)
Resolutions addressing the moral imperative of limiting climate change and the manner in which the company reports oil reserves replacement will appear on proxy ballot following SEC decision.
Obama to Propose New Fee on Oil (02/05)
Citing the opportunities in addressing climate change, the President's budget proposal will include a $10 per barrel fee on oil that will be used to build a sustainable national transportation infrastructure.
Exxon Opts for Business as Usual on Climate Change (02/03)
The oil and gas giant challenges a shareowner resolution from Interfaith Center on Corporate Responsibility members, requesting that it commit to global temperature increase limits.
Ceres Launches Online Database of Corporate SEC Filings on Climate Change (01/22)
The organization collaborates with CookESG Research to provide an online tool for searching corporate filings with the Securities and Exchange Commission on carbon asset risks and other sustainability factors. Third in a three-part series.
In Wake of COP21, Shareowners Challenge Corporate Lobbying on Climate (01/16)
A shareowner initiative coordinated by Walden Asset Management requests that fossil fuel companies disclose lobbying activities and review public policy advocacy on energy policy and climate change. Second in a three-part series.
Sustainable Investors Respond to Climate Pact (01/15)
With COP21 Climate Conference in Paris ending with agreement intended to keep global temperature increase below two degrees Celsius, investors envision portfolios focused on renewable energy. First in a three-part series.
Scientists Join Call for Exxon Investigation (11/19)
In the wake of reports detailing the oil giant's duplicity on climate change, the Union of Concerned Scientists join legislators and others in urging a Department of Justice investigation.
Skepticism Greets Oil Industry Statement on Climate Change (10/21)
Even before member companies of the Oil and Gas Climate initiative issued a statement supporting a climate deal in Paris in December, the Union of Concerned Scientists question the extent of the industry's commitment.
Justice Department Urged to Investigate Exxon (10/19)
After two reports identify research into global warming by the oil giant as far back as the 1970s, two members of the House of Representatives call on the Justice Department to investigate the corporation for its campaign to deceive the American public about the risks of climate change.
Investors Call for Support of EPA Methane Regulations (09/22)
A coalition of investors organized by the Interfaith Center on Corporate Responsibility writes to 32 energy companies, requesting that they support new regulations on methane emissions.
Letter to Obama: No Drilling on Public Lands (09/18)
Hundreds of signatories call on the President to end the policy of leasing federal lands for fossil fuel exploration and extraction.
Drilling in the Arctic, Mining at the Grand Canyon (08/21)
President Obama's legacy on climate will be compromised by Shell drilling for oil in the Arctic, and the Grand Canyon is under siege from uranium mining and tourism development.
EPA Proposes Methane Cuts for Oil and Gas Sector (08/20)
The proposed standards, part of the Obama administration's Climate Action Plan, will reduce methane emissions in the oil and gas industry by as much as 45% by 2025.
Oil Industry Payments to Governments Still Lack Transparency (07/23)
Five years after passage of Dodd-Frank, a report by Oxfam America finds that payments by the US industry to developing nations lack the transparency to ensure that governments are using them for the benefit of citizens.
Investors Support White House Plan to Cut Methane Emissions (07/07)
The Obama Administration proposes to reduce methane emissions from the oil and gas industry by at least 45% by 2025, and investors coordinated by Ceres and Trillium Asset Management issue a statement expressing their support.
Resolutions Request Emissions Reduction Goals by Exxon and Chevron (05/29)
A process for shareowners to declare their intention to vote in favor of emissions reduction resolutions at the annual meetings of the oil and gas giants does not appear to have led to substantial votes in favor, but signal that investors who choose engagement as a strategy will remain aggressive.
Carbon Tracker Offers Roadmap for Energy Transition (05/01)
Asserting that many executives in the oil and gas industry assume a business as usual approach in their planning, the NGO warns that unconventional exploration and price volatility will have negative impacts for investors.
$120 Million Green Bond from Nordic Investment Bank (04/20)
The fixed income issuance, driven by investors incorporating environmental, social, and corporate governance factors, will finance loans to environmental projects in Scandinavia.
Investors Call on SEC to Require Effective Climate Risk Disclosure (04/18)
In a letter to SEC Chair Mary Jo White, a coalition of investors organized by Ceres offers specific criticisms of disclosures by major oil and gas companies, and argues that climate risk is changing the economics of the industry.
Harvard Students Mount Blockade in Campaign for Divestment (04/17)
The Divest Harvard demonstrators block access to administrative offices during Harvard Heat Week as analyses of the university's investments find significant levels of greenhouse gas emissions.
US Coal Crash Structural, not Cyclical, Report States (03/27)
The Carbon Tracker Initiative's latest report reveals that bankruptcies are rampant in the US coal industry as cheap natural gas and a strengthening renewable market indicate that the decline of coal will be permanent.
Shareowners Continue Push for Fracking Disclosure (03/17)
Six companies are recipients of resolutions this proxy season, calling for greater disclosure of environmental and community risks associated with hydraulic fracturing.
BP Calls for Price on Carbon (02/25)
Arguing that emissions are rising significantly more than scientists recommend, the oil and gas company states that a meaningful global price on carbon will incentivize participation in a low-carbon transition.
Shell Demonstrates Tunnel Vision Version of Climate Change (02/23)
The oil and gas company endorses a shareowner resolution requesting a sustainable approach to stranded assets, but signals that it will resume costly and ineffectual drilling for oil in the Arctic.
Board of Directors Endorses Climate Change Resolution at Shell (02/03)
By endorsing a shareowner resolution filed by members of the Aiming for A investor coalition, the oil giant agrees to report on several aspects of climate risk, including portfolio resilience in post-2035 scenarios.
Investors Urged to Challenge Fossil Fuel Industry Assumptions on Risk (01/31)
Ceres hosts a press call in which investors express concerns that the oil and gas industry relies on a business as usual scenario in planning capital expenditures.
Over 50 Institutional Investors Call for Improved Annual Reporting from BP and Shell (01/26)
Invigorated shareowner engagement in the UK leads to resolutions requesting that the two companies with the largest carbon footprints in the FTSE 100 report on strategies to address climate change.
Sanders to Republicans: Believe in Climate Science? (01/22)
After assurances by by Republican leader McConnell that all amendments to a bill to approve the Keystone pipeline will be voted on, the Senate votes not to vote on amendment submitted by Senator Sanders of Vermont. Second of a two-part series.
Sex Trafficking and Murder in North Dakota Fracking Lands (01/14)
Forum News Service publishes expose on human trafficking in the Oil Patch in western North Dakota, while the New York Times reports on corruption and murder on Native American reservation there.
Engage or Divest? (01/10)
Investors know what has to be done to prevent the worst effects of climate change, but many continue to debate whether moving their assets from fossil fuel companies might affect their returns in the short term. Second of a two-part series.
Heartening Developments in the War on Coal (12/26)
The Department of the Interior proposes that coal companies pay royalties on federal leases, and the Environmental Protection Agency announces new regulations for coal ash disposal. First of a two-part series.
Energy Companies Fail to Disclose Impacts of Fracking Operations (12/13)
The third edition of Disclosing the Facts, published by a coalition of sustainable investment organizations, reveals that companies engaged in hydraulic fracturing continue to prioritize empty assurances over meaningful data.
Norway's Sovereign Wealth Fund Declines to Divest from Fossil Fuels (12/12)
Nongovernmental organizations criticize an expert report that recommends active ownership instead of divestment, which was published one week after Norway's largest private pension fund announced a policy of divestment.
Book Review: This Changes Everything: Capitalism vs. the Climate, by Naomi Klein (12/01)
The author and activist argues that global trade policies promoting privatization and government austerity have doomed the climate movement thus far, but insists that there is still time for massive public infrastructure programs to address both climate change and inequality.
Investors Ratchet Up Engagement Over Stranded Assets (11/26)
Undeterred by ExxonMobil's plan to burn all fossil fuel reserves already on its books, As You Sow and Arjuna Capital file a shareowner resolution requesting that the company return capital to investors rather than embark on further exploration.
Despite Pledges, G20 Subsidies of Fossil Fuel Exploration Continue (11/12)
Oil Change International co-authors a study which reveals that the Group of 20 governments spend $88 billion a year subsidizing exploration of fossil fuel reserves that cannot be burned if worst effects of climate change are to be averted.
Fossil Fuel Companies Failing to Integrate Risk (10/18)
Research by the Carbon Tracker Initiative reveals that while most fossil fuel companies acknowledge climate change as a risk, very few are integrating climate risks into project and capital expenditure assessments.
Investors Call for Oil and Gas Methane Regulation (10/13)
In a letter to the Environmental Protection Agency, investors with more than $300 billion in assets under management call for regulation of methane emissions from the oil and gas industry.
Coal Keeps Getting Riskier for Investors (10/05)
The Carbon Tracker Initiative projects that as the demand for coal exports slows in China, $112 billion in planned future coal mine expansion and development is at risk of losing money.
Carbon Tracker Analysis Refutes Exxon Claims (09/12)
The analysis reveals that unconventional oil and gas exploration has contributed to ExxonMobil underperforming the S&P 500 by eight percent over five years, and that the company has not adequately stress tested a future low carbon scenario.
Addressing Pollution a Top Priority for Development in China (08/28)
The China Greentech Report 2014 finds that sustainable development, once considered an optional approach, is now a prerequisite as the world's largest emitter of greenhouse gases struggles with pollution in its cities.
Subsidies for Oil and Gas Companies Increase under Obama (08/02)
A report by Oil Change International estimates that fossil fuel exploration and production subsidies have increased by 45% since President Obama took office in 2009, as his repeated efforts to lower them have been stymied in Congress.
Electric Utilities Ranked on Renewables and Energy Efficiency (07/28)
A report from Ceres and Clean Edge benchmarks the nationís largest electric utilities on renewable energy sales, and cumulative and incremental energy efficiency savings.
Unitarians Craft Divestment Policy that Provides for Continued Engagement (07/14)
SocialFunds.com talks with Simon Billenness of the Unitarian Universalist Association about the year-long process to develop a policy of divestment from fossil fuel companies while retaining shareowner engagement.
Carbon Tracker Responds to Shell on Stranded Assets (07/09)
The Carbon Tracker Initiative, whose 2011 report on stranded fossil fuel assets helped launch the fossil fuel divestment movement, joins with Energy Transition Advisors to argue that Shell's statement on stranded assets underestimates the magnitude of risk to investors.
Step Back from New Oil Sands Projects, Scientists Tell North American Leaders (06/28)
Citing approval of pipelines and other oil sands projects as symptoms of a broken policy process, a group of scientists call for no new oil sands project approvals unless they are consistent with effective climate change policies.
Supreme Court Upholds EPA Authority to Regulate Greenhouse Gas Emissions (06/24)
The Court's ruling allows the Environmental Protection Agency to regulate greenhouse gas (GHG) emissions from sources whose conventional pollutants are already being regulated.
Shareowner Action on Fracking Disclosure Proves Strength of Proxy (06/18)
The Investor Environmental Health Network reports that of six shareowner resolutions filed this year with companies engaged in hydraulic fracturing, four were withdrawn and two received substantial support.
Coal Fired Power Consumption Slowing in China (06/09)
Carbon Tracker and the Association for Sustainable and Responsible Investment in Asia report that investors need to consider the implications of significant stranded assets in China's coal sector.
EPA Announces Historic Emissions Limits for Power Plants (06/03)
More than 40% of the nation's greenhouse gas emissions come from power plants, and when enacted the new regulations will reduce emissions from existing power plants by 30% nationwide below 2005 levels.
Activist Shareowners Make Their Way to Texas to Confront Chevron (05/31)
Simon Billenness of the Unitarian Universalist Association talks with SocialFunds.com about Chevron's ongoing legal quagmire in Ecuador and his efforts to have the oil and gas company appoint an independent Chair.
Oil Change International Exposes Growing Crude by Rail (05/30)
A new report estimates that an average of 135 trains with 100 cars apiece are moving crude oil via the rail system of North America, and at any given time nine million barrels are being transported by rail.
Record Support for Stranded Assets Resolution at Anadarko Petroleum (05/27)
Resolution filed by As You Sow requesting that oil and gas company report on risk of stranded assets gains support of 30% of shareowners, the highest percentage for such a resolution thus far.
Investment Professionals Taking Stranded Assets Seriously (05/23)
In advance of the 25th annual SRI Conference on Sustainable, Responsible, Impact Investing, First Affirmative Financial Network surveys sustainable investment professionals and finds that a majority believes now is the time to assess investments in fossil fuel companies.
EIRIS Launches Investment Watch for Burma (05/21)
After President Obama issues an Executive Order continuing the national emergency in Burma, the EIRIS Conflict Risk Network establishes an Investment Watch for Burma to help investors determine the reporting transparency of companies doing business there.
Shell Joins Exxon in Denying Assets are Stranded (05/20)
A long-winded response by the oil company to shareowner concerns boils down to the assertion that it plans to burn all the reserves on its books regardless of the impact on climate change.
Film Review: The Wisdom to Survive (05/19)
Filmmakers John Ankele and Anne Macksoud document the destruction of nature from the developed nations' addiction to fossil fuels, but argue that there is still time to remake civilization in a just and sustainable way. Second of a two-part series.
Carbon Tracker Publishes First in Series on Stranded Assets (05/09)
The first of three reports analyzing the investment risks associated with stranded fossil fuel assets coincides with Stanford University's divestment of coal stocks from its $19 billion endowment.
Third National Climate Assessment Published (05/06)
In its new report, the US Global Change Research Program asserts that the effects of climate change have already become a present day concern, and announces the launch of a website to help Americans receive reliable scientific information.
Canadian Investors Issue Climate Change Policy Statement (04/12)
The Responsible Investment Association calls on the federal and provincial governments of Canada to develop policies that will encourage a transition to a low-carbon economy.
Dare We Celebrate Exxon Agreeing to Report on Fracking Risks? (04/03)
As You Sow and the New York City Pension Funds withdraw resolution when Exxon agrees to increased transparency days after the oil and gas company issues disappointing report on stranded assets.
Disclosures by Fracking Companies Still Poor (04/01)
Research commissioned by the Principles for Responsible Investment reveals that oil and gas companies engaged in hydraulic fracturing fail to adequately disclose risks associated with the practice.
Another Win for Climate Change Mitigation (03/28)
As You Sow withdraws shareowner resolution at Southern Company after the utility agrees to report on integrating renewable energy into its business operations.
Tullow Oil Expands Disclosure of Payments to Governments (03/24)
The voluntary disclosure of payments on a project level is the first by an oil and gas company, and comes while the American Petroleum Institute seeks to weaken a proposed Securities and Exchange Commission rule on payments to governments.
ExxonMobil to Report on Stranded Assets (03/21)
A shareowner resolution is withdrawn by As You Sow after Exxon agrees to becomes the first oil and gas company to report on the impacts of unburnable carbon assets on its business model.
Investors Warned Again of Risks in Arctic Drilling (02/26)
A coalition of nonprofit organizations releases a report for institutional investors detailing the considerable financial, environmental, and social risks associated with Shell's plans to drill for oil in the waters of the US Arctic.
Divest or Engage Meets the Capital Markets (02/19)
Investors aligned with Ceres with Ceres file ten resolutions addressing stranded fossil fuel assets, and Green Century Capital Management announces its Equity Fund will become fossil free.
Investors Renew Efforts to Improve Fracking Accountability (02/06)
Ceres publishes a report on hydraulic fracturing in water-stressed regions, and five shareowner resolutions filed this year address water and other risks associated with fracking.
Evaluate Public Policies on Climate, Investors Tell Energy Companies (01/09)
Building on its efforts to pressure corporations to report on greenhouse gas emissions strategies, the Raising the Bar investor initiative requests that energy companies review lobbying policies relating to climate legislation.
Top Sustainable Investment Stories for 2013 Part 3 (01/08)
Divest or engage? Sustainable investors have wrestled with arguments of divestment versus engagement, and many have concluded that engagement provides them with the better opportunity to pressure fossil fuel companies to change their behaviors. Meanwhile, sustainable investment firms such as Green Century Capital Management and Trillium Asset Management have been offering fossil free investment opportunities for years.
Top Sustainable Investment Stories for 2013 Part 2 (01/07)
Sustainable shareowners request that fossil fuel companies report on financial impacts of having to leave in ground a majority of reserves on their books if climate change is to be addressed.
NGOs Condemn Chevron for Assaults on Free Speech (12/20)
Following the most recent of Chevron's legal maneuvers to avoid responsibility for environmental damage in Ecuador, a group of nongovernmental organizations publish an open letter condemning its tactics.
More Environmental Risks for Fracking Operations (12/13)
A report by the Environmental Integrity Project warns that construction or expansion of more than 90 natural gas power plants could increase greenhouse gas emissions by 91 million tons.
Divest or Engage a Serious Question for More than Investors (12/06)
UK think tank Meteos convenes an investor dialogue on risks to energy holdings and recommends more analysis of the effects of climate change mitigation on stranded fossil fuel assets.
Fossil Fuel Subsidies Average $112 per Adult (11/29)
A new report on subsidies by the Overseas Development Institute recommends that they be phased out globally by 2025 in order to encourage investment in renewable energy.
Investors Call for Improved Disclosures by Operators of Wood-Burning Power Plants (11/22)
A report by the Partnership for Policy Integrity challenges claims of carbon neutrality by three companies with bioenergy operations, and 15 fifteen investors call on the Securities and Exchange Commission to review disclosures by the companies.
Shareowners Opt for Engagement to Press Chevron on Corporate Governance (11/19)
Shareowner advocate Simon Billenness updates SocialFunds.com on judgment against Chevron in Ecuador, and explains why engagement with fossil fuel companies is more effective than divestment.
Shareowner Engagement yet to Convince Frackers to Disclose (11/11)
A group of sustainable institutional investors issues a report on the hydraulic fracturing industry that reveals companies are failing to disclose impacts on communities and the environment from their operations.
Investors Call on Fossil Fuel Companies to Account for Stranded Assets (11/06)
Seventy institutional investors with more than $3 trillion in assets under management request that 45 companies report on unburnable fossil fuel assets in advance of 2014 proxy season. Third of a three-part series.
Fossil Fuel Divestment only the First Step (10/29)
Investors join 350.org to produce a guide on divesting from fossil fuel companies. First of a three-part series.
Engage or Divest? (10/07)
As college students continue their campaign for divestment from fossil fuel companies, Northstar Asset Management debunks estimates of the cost of the investment strategy and questions whether shareowner engagement can be effective.
EPA Proposes Limits for Power Plant Emissions (09/21)
The standards, which will limit emissions by new power plants, are praised by investors and corporations, and assailed by the Senate Minority Leader and the Chamber of Commerce.
Chevron Drops Damage Claims Against Ecuadorians (09/12)
The oil company also requests that Judge Lewis Kaplan and not a jury decide its RICO lawsuit, and that defendants be barred from introducing evidence of environmental destruction in Ecuador.
Shell Fined $1 Million for Clean Air Act Violations in Arctic (09/10)
The Environmental Protection Agency finds the company violated its Clean Air Act permits in the Arctic after encountering operational challenges with its two drilling rigs.
Ceres, ICCR Offer Guidance for Sustainable Investing (07/02)
The Interfaith Center on Corporate Responsibility provides insights for investors on climate change, and Ceres issues a blueprint for investors seeking to incorporate sustainability into their decision making. First of two parts.
Obama Directs EPA to Use Clean Air Act to Regulate Emissions (06/26)
Acknowledging that Congress is likely to persist in failing to act on climate change, the President decides that executive action is needed to address a growing crisis whose effects are already being felt.
Investors Square Off with Chevron CEO at Shareowner Meeting (06/01)
Shareowner advocate Simon Billenness cites the company's $19 billion legal quagmire in Ecuador in requesting a lower threshold for calling special meetings while Atossa Soltani of Amazon Watch is ejected from meeting at request of CEO John Watson.
How Not to Endear Yourself to Shareowners (05/25)
Range Resources attacks Trillium Asset Management for requesting that it report on fugitive methane emissions, and Urban Outfitters seeks to address diversity concerns by appointing the wife of the CEO to the board.
Chevron Continues to Misrepresent Ecuador Judgment, Updated Report Says (05/20)
Attorney Graham Erion updates his 2012 report on misrepresentations made by Chevron to investors regarding the $19 billion judgment against it for environmental destruction in Ecuador.
First Carbon Bubble Resolution Wins Strong Support at CONSOL Energy (05/16)
Twenty percent of shareowners support an As You Sow request that the company report on the financial risks associated with having to leave most of its coal reserves in the ground.
Resolution Calls on CONSOL Energy to Report on Stranded Assets (05/08)
Up to 80% of known fossil fuel reserves will have to stay in the ground if climate change is to be addressed, and As You Sow requests that the coal producer report on the risks of stranded reserve and infrastructure assets.
State Department Assessment of Keystone Pipeline Insufficient, EPA states (05/03)
Commenting on a State Department review of the controversial Keystone XL pipeline, the Environmental Protection Agency criticizes its findings on greenhouse gas emissions and pipeline spills.
Subsidizing Fossil Fuels Hinders Investment in Renewables (04/22)
A paper from the Overseas Development Institute calls for an end to fossil fuel subsidies in order to help mobilize private investment in climate-compatible development in developing nations.
Climate Principles Issues Best Practices for Hydraulic Fracturing (04/13)
Guidelines for financiers of hydraulic fracturing published by the European Climate Principles add to calls for greater transparency by companies engaged in the practice.
EU Mandates Disclosure of Payments to Governments (04/09)
Transparency International says that with the European mandate joining rules enacted by the Securities and Exchange Commission in the US, 90% of companies in the extractives industries will be required to disclose payments to governments.
Afloat on Fossil Fuel Money, Senate Votes for Keystone Pipeline (03/26)
Oil Change International reports that the 62 Senators supporting the controversial tar sands pipeline in a non-binding vote have received $31 million in campaign contributions from fossil fuel interests.
Deployment of Renewables Increases but Market Contracts (03/19)
The annual report on clean energy by Clean Edge emphasizes that despite a challenging year for renewable energy, climate change and resource constraints mean that the fundamental drivers for the industry remain.
Report Says Carbon Bubble Poses Risk to Financial Stability (03/13)
Originally published in 2011, Carbon Tracker's report Unburnable Carbon wins a Farsight Award from UK-based Long Finance for its assessment of the financial implications of fossil fuel reserves.
First-Time Shareowner Resolutions Address Stranded Fossil Fuel Assets (03/11)
As You Sow and the Unitarian Universalist Association have filed shareowner resolutions with two large coal companies, requesting that they report on material impact of reserves that must remain in the ground if climate change is to be addressed.
Fracking on Proxy Ballots at Chevron and Exxon (02/25)
Described as laggards for their failure to address investor concerns, the oil and gas giants face shareowner resolutions addressing environmental and social risks associated with hydraulic fracturing.
Senators Boxer and Sanders Propose Climate Change Legislation (02/19)
Among the highlights of the proposed bill are a fee on carbon pollution and increased oversight of hydraulic fracturing.
Statoil Breaks with Trade Association over Lawsuit (02/11)
Calvert Investments commends Statoil for explicitly distancing itself from lawsuit filed by the American Petroleum Institute that contests SEC regulation governing payments to governments.
Shareowners Press on with Fracking Campaign (02/05)
Nine oil and gas companies face shareowner resolutions this proxy season requesting quantitative reporting of risks associated with hydraulic fracturing and the management of fugitive methane emissions.
Portfolios Can Thrive After Fossil Fuel Divestment (01/31)
As students on campuses across the country respond to climate change by calling on universities to divest fossil fuel holdings, an analysis reveals that divestment could add little financial risk to portfolios.
Thich Nhat Hanh, Alexis de Tocqueville, and Bernie Sanders on Climate Change (01/25)
The Vermont Senator says he will introduce legislation that includes a price on carbon, but despite President Obama's statement of commitment to climate change a White House spokesperson says the administration has no plans to propose a tax on carbon.
Keystone Pipeline First Challenge for Obama on Climate Change (01/23)
With two new reports describing greenhouse gas emissions from oil sands development as even worse than expected, environmentalists and sustainable investors are likely to scrutinize the State Department's upcoming decision on the Keystone XL pipeline.
Emissions from Canadian Oil Sands Worse than Expected (01/21)
Two reports focus on the implications of building the Keystone XL pipeline and the effects on levels of greenhouse gas emissions from petroleum coke, a byproduct of the bitumen refining process.
Briefs Supporting SEC Filed in Lawsuit Challenging Transparency Rules for Extractives (01/18)
Oxfam America and members of Congress argue that a rule mandating disclosure of payments to governments will contribute to stability and help investors make informed decisions.
Shareowner Resolution Challenges Chevron for Attacking Investors (01/12)
The Needmor Fund and Zevin Asset Management file a shareowner resolution requesting that Chevron explain the rationale behind issuing subpoenas to force investors to share confidential communications.
Shareowner Urges End to Natural Gas Flaring (01/10)
Mercy Investment Services files a shareowner resolution with Continental Resources, requesting that the oil company reduce or eliminate the environmentally destructive practice of natural gas flaring in its operations.
Dangerous Mishaps Plague Shell's Arctic Exploration (01/09)
The Department of the Interior launches an expedited review of Shell's drilling program after a drill rig runs aground in the Gulf of Alaska.
Top Sustainable Investment Stories of 2012, Part 5 (01/05)
In a cautionary tale of poor corporate governance, the year for Chevron began with a court in Ecuador upholding the $18 billion judgment against it for environmental damage, and ended with the company's lawyers serving subpoenas on its own shareowners.
Chevron Hits Sustainable Investors with Subpoenas over Ecuador (12/15)
In its latest effort to avoid a $19 judgment for environmental damage in Ecuador, Chevron and Gibson, Dunn, & Crutcher, its law firm, have issued subpoenas to Trillium Asset Management and shareowner advocate Simon Billenness.
Plan for Regulating Emissions from Existing Power Plants Proposed (12/08)
The Natural Resources Defense Council states in an issues brief that state-specific standards from the Environmental Protection Agency could lead to a steep drop in emissions and significant cost savings.
College Endowments Urged to Divest Fossil Fuel Holdings (11/12)
The Do the Math campaign from 350.org urges colleges and universities to restructure their endowments and divest their holdings in fossil fuel industries to make an impact on climate change.
SEC Refuses to Delay Extractives Transparency Rule (11/10)
The Commission tells industry trade association that rule governing disclosure of payments to governments will be implemented as scheduled, despite pending lawsuit challenging its validity.
Climate Change Action in Obama's Second Term? (11/09)
After an election campaign during which climate change was barely mentioned, sustainable investors and other advocates hold out hope for effective action in the next four years.
With Expiration Looming, Groups Call for Extension of Production Tax Credit (10/30)
The Investor Network on Climate Risk is the latest to write to Congressional leaders, urging them to support extending a tax credit that has helped wind energy become one of the nation's fastest growing manufacturing industries.
Oil Sands Producers Urged to Adopt Environmental and Social Performance Goals (10/24)
A coalition of 49 investors with $2 trillion in assets call on newly formed association of producers to set specific goals for improving environmental and social performance.
As You Sow Updates Investment Risks Associated with Coal (10/23)
Investors are warned that as the use of coal as a source of power output in the US declines and construction costs increase, the financial risks of investing in coal-dependent electric utilities are significant.
Court in Ecuador Approves Seizure of Chevron Assets (10/19)
Chevron says it will appeal decision clearing the way for seizure of $200 million of assets in Ecuador as payment toward a $19 billion judgment for environmental damage in the country.
Resources Insufficient to Protect World's Poorest from Climate Change (10/13)
The Climate Vulnerability Monitor warns that 100 million lives could be lost by 2030 if climate change and carbon-intensive energy practices are not addressed.
$18 Billion Judgment Against Chevron Stands (10/10)
The US Supreme Court declines to hear Chevron's arguments for overturning the largest environmental judgment in history, leaving the company vulnerable to charges of securities law violations.
Chevron Wants Access to Emails of Critics (10/02)
The oil company's latest effort to avoid paying a $19 billion judgment for extensive environmental damage in Ecuador involves trying to gain access to the private email accounts of 101 people who have worked on the case.
Extractives Commitment to Human Rights Improving (09/27)
But research from Oxfam America indicates that policies supporting Free, Prior, and Informed Consent must include a transition from resource extraction to development partnerships.
Shell Says Oil Spills from Corroded Pipes in Nigeria Due to Sabotage (09/24)
Amnesty International and the Center for Environment, Human Rights and Development cite the assessment of experts that the latest in a series of oil spills in the Niger Delta was due to corrosion in poorly-maintained pipes owned by Shell.
BICEP Members Call for Extension of Wind Credit (09/19)
Nineteen companies in the Ceres-led Business for Innovative Climate and Energy Policy coalition say that Congressional extension of the tax credit for wind energy will improve competitiveness and create jobs.
US Solar Installations Set Records Despite Insufficient Government Action (09/17)
The Solar Energy Industries Association reports that solar installations in the US totaled 742 megawatts in the second quarter of 2012, but Ernst & Young warns that policy gridlock prevents lawmakers from making the necessary long-term investment decisions.
House Passes No More Solyndras Act (09/15)
Viewed by Democrats as nothing more than election-year grandstanding, the bill stands no chance of passing the Senate.
Lawsuit Alleging Human Rights Violations by Shell in Nigeria Reaches SCOTUS (09/06)
In an issues brief, Professor John Ruggie wonders if Shell's efforts to undermine the Alien Tort Statute will undermine its claims of corporate social responsibility.
Treasury Bonds Issue Will Help Fund Clean Energy Deployment (08/28)
The Clean Energy Victory Bonds Act would both provide for the sale of US Treasury Bonds to help finance clean energy technologies, and extend the federal Production Tax Credit for wind energy.
SEC Issues Rules on Conflict Minerals and Payments to Governments (08/24)
Responses by sustainable investors and other stakeholders to payments to governments in resource-rich countries is generally positive, but concerns are voiced over provisions in the conflict minerals regulation. Second of a two-part series.
DC Appeals Court Strikes Down Another EPA Regulation (08/23)
The Court decides that the Cross-State Air Pollution Rule exceeds the Environmental Protection Agency's statutory authority, but a dissenting opinion argues that the Court has trampled on precedent.
Sustainability Management by Oil Firms Lacking (08/21)
A report from oekom, a German research firm, analyzes the sustainability performance of oil and gas companies, finding that as technological demands increase the management of risk is failing to keep up.
Investors Urge Extension of Production Tax Credits (08/15)
The tax credits, which help drive billions per year in private investment in the wind energy industry, are set to expire this year, which could lead to the loss of 37,000 domestic jobs.
Despite SEC Guidance, Disclosures by Oil and Gas Companies Are Insufficient (08/02)
A report from Ceres finds that ten of the largest companies in the oil and gas sector are failing to provide sufficient disclosures on climate change and deepwater drilling.
Concerns Voiced over Easing Burma Investment (07/25)
An executive order lifting ban on investment in Burma allows US companies to enter the country's energy sector, raising concerns over lack of transparency and ties to the military.
Book Review: Private Empire: ExxonMobil and American Power, by Steve Coll (06/25)
In a well-researched investigation into the inner workings of one of the world's largest and most powerful corporations, author Steve Coll details ExxonMobil's efforts to discredit climate science and extract resources in countries ruled by autocrats.
Investors Call for Improved Management of Methane Emissions from Fracking (06/15)
An international coalition of institutional investment organizations with more than $20 trillion in assets warn of the impacts of methane emissions on global warming, and issue a draft framework for improved corporate disclosure.
Shareowners to Vote on Lobbying by Energy Companies (06/05)
Resolutions submitted by Walden Asset Management at Devon Energy and Chesapeake Energy call for disclosure of corporate lobbying expenditures.
Shareowners Voice Support for Environmental and Governance Resolutions at Chevron (06/01)
A call for the separation of the positions of CEO and Board Chair gains more than 38% of shareowner support, while 27% vote in favor of improved disclosure of risks associated with hydraulic fracturing.
Investors Write to Chevron Again (05/29)
Led by the New York State Common Retirement Fund, a coalition of 40 institutional investors with $580 billion in assets under management calls on Chevron to end its legal wrangling over an $18 billion judgment against it for environmental damage in Ecuador.
Investors Warned to Question Shell's Plans for Arctic (05/24)
Citing the likelihood that control of a spill in ice-covered waters will fail, and outlining Shell's poor track record in the Russian Far East, Greenpeace advises investors to ask hard questions about the risks to the company's financial health.
A Trillion Dollar Call for Best Practices in Fracking Operations (05/23)
Fifty-five institutional investment organizations representing $1 trillion in assets under management call for adoption of best practices by oil and gas companies engaged in hydraulic fracturing.
Shareowners Ask SEC to Investigate Chevron (05/21)
Three sustainable investment organizations say that the company's management appears to be covering up the risks associated with an $18 billion legal judgment against it for environmental damage in Ecuador. Second of a two-part series.
Two-thirds of Cairn Energy Shareowners Reject Say-on-Pay Proposal (05/19)
The vote at the UK-based energy exploration company comes after Business Secretary Vince Cable proposes that shareowner votes on executive compensation be binding.
Is Chevron in Violation of Securities Law? (05/18)
New reports on Chevron's liabilities relating to environmental damages in Ecuador assert that while the company's legal options have narrowed significantly, its public filings repeat the same arguments made in 2008. First of a two-part series.
Chesapeake Energy Agrees to Separation of Chair and CEO (05/07)
The controversial oil and gas company agrees to a key corporate governance reform after widespread criticism of an arrangement allowing CEO Aubrey McClendon to borrow more than a billion dollars from its treasury.
Retail Investors Invited to Discussion on Fracking (04/26)
Moxy Vote provides a forum for individual investors to vote their proxies, and invites them to weigh in on hydraulic fracturing resolutions at Chevron and Exxon Mobil.
EPA Finalizes Rules on Emissions from Fracking (04/23)
Drillers of new wells that use hydraulic fracturing to access natural gas resources have until 2015 to employ green completions to capture methane and other chemicals before they are released into the environment.
Solar Industry Maturing Despite Lack of Subsidies (04/10)
A report from As You Sow details examples of best practice in environmental, social, and corporate governance considerations by solar companies, and provides a benchmark for investors to track sustainable developments in the industry.
Regulatory Path Cleared for Fracking Resolution at Exxon (04/07)
The Securities and Exchange Commission overrules challenge by ExxonMobil to hydraulic fracturing resolution submitted by As You Sow.
EPA Proposes Carbon Pollution Standard for New Power Plants (03/29)
The standard, which will be the first to limit emissions from the largest individual sources of carbon pollution in the US, will not be applied to existing plants or those to be built in the next 12 months.
Shell Heads for the Arctic (03/26)
While the company contends with activist nongovernmental organizations such as Greenpeace, it remains unclear if sustainable investors are engaging with it on the potential cost of an oil spill cleanup.
2011 Sees Record Installations for Wind and Solar (03/16)
Clean Edge's 2012 trends report forecasts that the expansion of renewable technologies, which successfully weathered the economic downturn, will continue through 2021.
Investors Continue Pressure for Fracking Disclosure (03/09)
Two guides for investors and companies engaged in hydraulic fracturing have been published in recent months, and four of ten shareowner resolutions calling for increased disclosure of risks have been withdrawn.
Investors Write to Chevron on Country Selection (02/27)
Following an unproductive meeting with Chevron on its operations in Burma, shareowners make public a letter in which they request transparency in the company's country selection criteria.
Congressional Recipients of Oil Industry Money Overwhelmingly Support Controversial Pipeline (01/17)
An analysis by MapLight reveals that of the 118 House members who report the oil and gas industry among their top ten contributors, only two voted against legislation calling for construction of the Keystone XL pipeline.
EPA Launches Database of High Emitters (01/13)
2010 greenhouse gas emissions data reveals that power plants were the largest stationary sources of direct emissions, with 96 of them among the 100 facilities reporting the highest levels of emissions.
Ecuadorian Court Upholds $18 Billion Judgment Against Chevron (01/06)
In addition to upholding the judgment for environmental damages in Ecuador's Amazon rainforest, the court also criticized Chevron's efforts to undermine the trial.
Shareowners Press Chevron to Acknowledge Environmental Liabilities in Ecuador (12/27)
Even as Chevron's liability for a November oil spill in Brazil reaches billions of dollars, the company still refuses to disclose to shareowners the risks associated with an $18 billion court judgment against it in Ecuador. Second of a two-part series.
Shareowner Activists Pressure Chevron for Transparency Over Payments to Burmese Regime (12/23)
Amid news of a possible normalization of relations between the US and Burma, sustainable investors and other activists argue that most of Chevron's payments line the pockets of the military. First of a two-part series.
Investors Provide Guidance for Companies Engaged in Hydraulic Fracturing (12/15)
SocialFunds.com talks with Richard Liroff of the Investor Environmental Health Network about a collaborative effort with the Interfaith Center on Corporate Responsibility to minimize risks associated with fracking through key performance indicators and best practices.
EPA Finds Drinking Water Tainted by Fracking (12/13)
An analysis by the Environmental Protection Agency finds that hydraulic fracturing is responsible for polluting the drinking water in Pavilion, Wyoming.
Massey Energy Parent Fined $209 Million for Fatal Mine Disaster (12/07)
The Mine Safety and Health Administration says that corporate culture at Massey was the root cause of the Upper Big Branch mine explosion in West Virginia that killed 29 workers.
NYSE Euronext and Bloomberg New Energy Finance Launch New Clean Energy Stock Indexes (11/30)
The indexes, which will track clean energy stocks in three regions globally, will soon be joined by industry-specific indexes; in the US, new sources of investment must be found to maintain the growth spurred by stimulus funds.
Administration Punts on Controversial Oil Pipeline (11/11)
The State Department's decision to review planned route through Nebraska is likely to put off a final decision until 2013.
Scoreboard Details Increased Investment in Green Economy (09/13)
The Green Transition Scoreboard of Ethical Markets Media finds that private sector investment in green companies and technologies is likely to reach $10 trillion by 2020.
SEC Considering Oversight of Hydraulic Fracturing (08/31)
As investor concerns over the risks of hydraulic fracturing increase, news reports indicate that the Commission is asking companies for information relating to chemicals used in the practice.
Disclosure by Extractive Industries Could Help US Taxpayers (08/22)
The Office of Natural Resource Revenue writes to the Securities and Exchange Commission in favor of rules requiring disclosure of payments to governments, stating that they could help ensure that energy companies are reimbursing US taxpayers.
Investors Call on Oil Companies to Consider Halting Operations in Syria (08/21)
Institutional investors that are members of the Conflict Risk Network, referring to the Guiding Principles on Business and Human Rights, ask oil companies to condemn the harsh crackdown on demonstrations by the Syrian government of Bashar al-Assad.
Can Shell Be Trusted with Drilling in Arctic? (08/20)
The company's permit from the Interior Department to drill in the Arctic precedes by days an oil spill in the North Sea, and follows a UN report critical of its acceptance of responsibility for oil spills in Nigeria.
Is the Carbon Bubble About to Burst? (07/28)
The Carbon Tracker Initiative finds that if global warming is to be contained, 80% of fossil fuels must remain unburned, leaving asset owners with holdings in the fossil fuels industries at risk.
EPA Finalizes Cross-State Air Pollution Rule (07/12)
The rule covers emissions in 27 states in the eastern US and is expected to save as much as $280 billion a year in health and environmental costs.
As You Sow Reports on Investment Risks Associated with Coal (07/06)
As shareowner support grows for resolutions addressing risks of reliance on coal and coal ash, a white paper details the decline of the industry's profitability.
Layne Christensen Publishes First Sustainability Report (06/17)
Despite rebuffing efforts by Walden Asset Management to engage on the issue, the company recommended a vote in favor of a resolution calling for sustainability reporting, and publishes a first report that is informed by Global Reporting Initiative guidelines.
Resolutions Addressing Hydraulic Fracturing Continue to Attract Shareowner Support (06/03)
At annual meeting of Ultra Petroleum, the company refuses to permit shareowners to present their proposal, but votes in favor double that of 2010.
Global Emissions Reach Record High in 2010 (06/01)
The International Energy Agency finds that, following a decline in global emissions in 2009, they increased by five percent over the previous record year, adding to the challenge of meeting reduction goals established at Cancun last year.
Shareowner Pressure on Hydraulic Fracturing Intensifies (05/31)
Resolutions addressing the issue at Chevron and ExxonMobil, co-filed by As You Sow and other sustainable investors, win substantial shareowner support, and Ultra Petroleum declines to release results of vote at its annual meeting.
As Violence Erupts Again in Sudan, Investors Call for Engagement (05/27)
An Investor Statement by the Sudan Engagement Group of the Principles for Responsible Investment, issued before this week's occupation of Abyei, calls for awareness of risks associated with doing business in conflict areas.
Trillium Asks SEC to Investigate Chevron Disclosures (05/25)
Discrepancies in assessing the impact on the company of an $18 billion judgment in Ecuador raise questions about the disclosures included in SEC filings.
EPA Finalizes Emissions Reporting Rules for Petroleum and Natural Gas Industry (11/15)
Large facilities in the industry will be required to monitor and report all greenhouse gas (GHG) emissions to the EPA.
Investors Take Note of Clean and Sustainable Geothermal Energy Production (09/12)
New technologies such as EGS offer potential for large-scale electricity production and lead to high-visibility investments.
Investors Still Supporting Clean Energy (08/13)
Even during the current uneasy economic period, clean energy companies are still finding investors
Renewable Energy Wows World Investors (07/08)
The United Nations Environmental Program reports a new record in sustainable energy investments in 2007 with more than $148 billion invested globally.
Bob Monks: ExxonMobil Exemplifies Corpocracy (06/30)
SocialFunds writers Bill Baue and Francesca Rheannon interview corporate governance advocate Bob Monks about his shareholder activism at ExxonMobil and his new book, Corpocracy.
Shelley Alpern on How Tar Sands Perpetuate Petro-Addiction (06/26)
SocialFunds writer Bill Baue speaks with Shelley Alpern of Trillium Asset Management about its shareholder activism on oil company exploitation of tar sands.
The Sunny Side of the Street: Investing in Solar (06/23)
More investors are seeing the benefits of buying solar stocks, whether to diversify portfolios or to champion an energy movement.
Sunny Days for New Solar Index and ETF (04/21)
Claymore Securities launches new ETF based on Melvin & Company's Global Solar Energy Index.
Joel Makower on the GreenBiz.com State of Green Business 2008 Report (02/01)
GreenBiz founder talks about the inaugural report, which surveys the top 10 green business stories of 2007 and introduces the GreenBiz Index.
Jolly Green Giant: Google Gives the Green Light to Alternative Energy (12/04)
Google promises millions of dollars to create inexpensive renewable energy.
Corporate Operations in Burma Fuel Human Rights Abuses, Say Shareowner Activists (10/26)
Shareowner letters to Chevron and Total criticize the piping of revenues to the Burmese regime, while the Norwegian Pension Fund defends its decision not to divest from Total.
Shareholder Resolutions on Climate Change to Heat Up ExxonMobil's Annual Meeting (05/30)
A broad coalition of shareholders is seriously concerned about ExxonMobil's lackluster response to global climate change and plans to give thumbs down to board member Michael Boskin.
Citigroup, Lehman Brothers, and UBS Report on Climate Risks and Opportunities for Investing (02/27)
Lehman Brothers and UBS agree climate change represents a market failure for neglecting to price carbon externalizations in valuations, while Citigroup makes specific stock picks.
Launch of Three New Clean Tech Indexes Culminates Banner Year for Green Investing (12/29)
The three Jefferies Global Clean Technology Indexes join the half-dozen green indexes introduced this year.
Rainforest Action Network Seeks to Stem Flow of Financing to TXU Coal Project (12/20)
Part two of this two-part articles addresses how RAN sent a letter to 54 banks urging them to withhold funding from a TXU plan to build 11 pulverized coal-burning power plants in Texas.
TXU Shareowners File Three Resolutions Questioning Wisdom of Pulverized Coal Plants (12/19)
Part one of this two-part article examines how shareowners are raising environmental and regulatory concerns over the TXU coal expansion plan, as well as environmentally preferable alternatives to coal such as energy efficiency.
Another Clean Energy Exchange Traded Fund to Launch (12/12)
First Trust Advisors is slated to introduce an ETF that tracks the NASDAQ Clean Edge US Liquid Series Index early next year.
Merrill Lynch and World Resources Institute Issue Second Auto Sector Climate Change Report (11/15)
The report again balances stock picking and investment analysis with in-depth discussion of regulatory and market developments in response to global warming and energy security concerns.
Two New ETFs Fight Climate Change: One Bridges Shift to Cleaner Energy, One Pushes Cleantech (11/02)
The PowerShares WilderHill Progressive Energy Portfolio and the PowerShares Cleantech Portfolio offer investors increasing choice for investing in climate change solutions.
BP, John Deere, Goldman Sachs, and Allianz Among Renewable Energy Award Winners (09/27)
The third annual award ceremony, sponsored by Euromoney and Ernst and Young, took place during the Renewable Energy Finance Forum.
Hydropower Stocks as an Alternative Energy Play (08/31)
Phaethon and Creative Investment Research recommend hydro to gain exposure to the energy boom, contending new technologies offer potential for reducing environmental impacts.
Trucost Joins Yale Professor to Devise Tool to Gauge Financial Cost of Environmental Impacts (08/25)
Professor Robert Repetto and Trucost Researcher Dan Dias apply the TRUEVA methodology for measuring externalities in financial terms to the US electric sector, which scores terribly.
Alternative Energy Revolution Fueled by New Fund Launches Despite Sector Downturn (08/17)
The launch of the Guinness Atkinson Alternative Energy Fund testifies to optimism about the sub-sector echoed by the launch of the first renewable energy hedge fund by Ardsley Partners.
Biofuels May Not Be Sustainability Panacea, According to Bank Sarasin Report (08/02)
The report identifies strengths and weaknesses of biofuels from social and environmental perspectives, as well as positing minimum sustainability criteria to qualify for investment.
BP, Suncor, and Shell Top Oil Sector Sustainability Rating; Chevron and ExxonMobil Rank Low (08/01)
The report by Jantzi Research examines 23 oil companies worldwide on environmental issues such as greenhouse gas emissions as well as human rights and other social issues.
Another Clean Energy Index Launches to Capitalize on Transition from Dependence on Fossil Fuels (05/10)
The NASDAQ Clean Edge US Index joins several other recently launched clean energy indexes tracking solar photovoltaic, biofuel, wind, and fuel cell companies.
Evergreen Solar and Energy Conversion Devices Rated Outperformers in Piper Jaffray Solar Report (02/23)
The report continues a trend of mainstream equity research using socially responsible investing strategies, and SRI funds confirm this assessment through wide exposure to these two companies.
In the Year of the Oil Boom, Some SRI Funds Look Elsewhere for Strong Performance in 2005 (01/24)
The top-performing socially responsible investing funds compared to their category peers (SRI and non-SRI alike) drew strong performance from pharma, tech, and financials.
Top Five Socially Responsible Investing News Stories of 2005 (01/05)
Socially responsible investing, corporate social responsibility, and microfinance embraced by the mainstream; shareowner advocates withdraw several climate change resolutions as companies agree to report; and exchange traded funds apply SRI strategies.
Solar Energy Helps Fuel Socially Responsible Investing (12/15)
Managers from Winslow Green Growth Fund, New Alternatives Fund, and Portfolio 21 discuss the opportunities and challenges of investing in solar power.
Rising Oil Prices Fuel Investment Returns in Renewable Energy for New Alternatives Fund (10/14)
The first environmental mutual fund is also globalizing its reach to capitalize on innovative developments in alternative energies in other countries.
Spreading SRI: Goldman Sachs Adds Its Own Twist in Social and Environmental Assessment (10/05)
As socially responsible investment strategies migrate into the mainstream, mainstream analysts apply social and environmental considerations in innovative ways.
Most Canadian Extractive Companies Behind the Curve on Human Rights Policies (08/18)
Ethical Funds surveys Canadian energy and mining companies and finds less than a handful with comprehensive human rights policies, management systems, and disclosure mechanisms.
Lack of Human Rights Policy Concerns Chevron Shareowners in Light of Unocal Merger (08/16)
Part two of this two-part article examines the implications of the delay in adopting a human rights policy given the inheritance of Unocal holdings in Burma and Alien Tort Claims Act cases.
New Document Alleges Tie Between Chevron and Human Rights Abuses in Nigeria (08/12)
Identified in the discovery phase of a case proceeding at state and federal levels, the invoice and receipt indicate Chevron paid Nigerian soldiers for services on a day several villagers were allegedly killed (part one of a two-part article.)
The Ghost of a Shareholder Resolution Haunts ExxonMobil Annual Meeting (05/26)
Despite an unprecedented 28 percent vote for a first-year climate change resolution and strong support for seven others, the censoring of a resolution quashes shareholder democracy.
Climate Change Offers Opportunities: An Interview with Tim Wirth, President of the UN Foundation (04/19)
At the Ceres conference in Boston last week, SocialFunds.com sat down with Tim Wirth to discuss the opportunities for companies presented by the climate change issue.
Ecuadorian Attorney General Tells ChevronTexaco Shareholders Remediation Agreement May Be Invalid (04/12)
The questionable validity of the remediation agreement indemnifying ChevronTexaco could carry implications for the lawsuit and beyond (part three of a multipart article).
Asphalt Jungle: Did Oil Drilling by Texaco Create Environmental and Social Harm in Ecuador? (04/11)
Both ChevronTexaco and lawsuit plaintiffs are finding evidence of contamination during judicial site inspections: the question is, does it pose human health or environmental risks? (part two of a multi-part article.)
Oil Spread Upon the Waters of Ecuador May Return Harm for ChevronTexaco Shareholders (04/08)
A shareholder delegation surveys the environmental and social impact of oil operations, assessing potential risk from a twelve-year old lawsuit in its judicial inspection phase (part one of a multi-part article).
Faith-Based and Environmentalist Shareowners Withdraw Climate Change Resolutions at Six Companies (03/22)
The six oil and gas companies commit to measure, mitigate, and disclose data related to global warming, and evangelicals join their faith-based compatriots in concern over climate change.
ConocoPhillips Bows Out of Arctic Power, Green Century Withdraws ANWR Resolution (01/12)
The oil company left the group lobbying to open the Arctic National Wildlife Refuge a year ago and neglected to inform resolution filers, who were nonetheless pleased with the development.
Shell and BP Top Innovest CSR Ratings of Integrated Oil and Gas Companies (10/13)
Marathon and several companies operating in emerging markets sink to the bottom of the rankings of corporate social responsibility performers.
ExxonMobil Mocks Climate Change, Maine Treasurer Finds It No Laughing Matter (05/27)
Senior management remains resolute in its disbelief of climate change risk.
ChevronTexaco Faces Class-Action Lawsuit in Ecuador Over Environmental Damage (05/11)
A resolution asking ChevronTexaco to report on new initiatives to address its legacy of environmental damage in Ecuador gained nine percent support from shareowners.
Three More Companies Address Climate Risk, So Shareowners Withdraw Resolutions (05/04)
Shareowners withdrew climate change resolutions at Southern Company and TXU, which agreed to issue reports, and at Reliant, which agreed to expand disclosure.
Social and Environmental Best Practice Linked to Financial Outperformance in Electric Sector (04/08)
Innovest releases another sector report correlating progressive social, environmental, and governance practices and policies with financial outperformance.
Nuke Producer GE Energy Buys Solar Producer AstroPower (04/06)
The GE Energy buyout of AstroPower represents a Catch 22 for social investors, who generally seek to support renewable energy but screen GE for its nuclear production.
Wisconsin Energy Reaps External and Internal Benefits from Social and Environmental Reporting (03/31)
Wisconsin Energy won accolades for its Global Reporting Initiative-based report, which also raised internal awareness of social and environmental performance.
Social Investors Urge World Bank to Adopt Extractive Industries Review Proposals (03/23)
If adopted by the World Bank, EIR recommendations could serve as a social and environmental best practice benchmark for oil, gas, and mining companies.
Corporate Governance Ratings Take Different Approaches to Produce Similar Results (08/19)
GovernanceMetrics International rates corporate governance in relation to other companies, while Institutional Shareholder Services rates in relation to market indexes.
Report Finds Oil Companies' Social and Environmental Practices Unsustainable (08/07)
Oekom Research's report criticizes the oil industry's uneven progress in sustainable development, but those in the industry question the report's findings.
Climate Change Litigation Could Affect Companies’ Market Value (07/23)
In the near future companies could face the risk of being on the receiving end of climate change lawsuits, a development that stands to impact shareowner value.
Report Connects the Dots Between Corporate Governance and Climate Change Risk (07/10)
A report reveals the degree to which 20 major global companies use corporate governance to address climate change risks and opportunities.
Huh?!?: CEO Pay Goes Up in 2002 While the Stock Market Goes Down (06/25)
The Corporate Library's report shows how CEO pay increased in 2002 despite the fact that the stock market declined significantly, a trend that does not sit well with investors.
Report Asks When ExxonMobil Will Wake Up to Climate-Related Risks (05/15)
For the second year in a row, a report tells ExxonMobil shareowners to beware of the significant risks the company faces in terms of how the oil giant addresses climate change.
The Effects of 9/11 and the Iraq War on Islamic SRI Funds (04/18)
Socially responsible investment funds that reflect Islamic values shed light on the issue of anti-Islam sentiment, which has run rampant after 9/11 and through the Iraq War.
Is the Sun Setting on AstroPower? (04/17)
Once the darling of the green investors, AstroPower's share price has plummeted precipitously over the past year.
Rebuilding Iraq: Humanitarianism Versus Opportunism (04/04)
Socially responsible investing supports companies and nonprofit initiatives that advance humanitarian efforts to rebuild Iraq and avoids investment in profiteering companies.
CalPERS Says Xerox's Corporate Governance Not Worthy of Copying (03/27)
Pension fund giant names six companies that need to improve their corporate governance.
Investing in Wind Energy Is Not a Breeze (03/07)
With few pure players in the domestic wind energy sector, investors who want exposure to wind energy must commit their money overseas.
ExxonMobil Receives 23 Shareowner Resolutions on Issues Ranging from Climate Change to Corporate Governance (02/26)
Concerted shareowner action this proxy season targets ExxonMobil over such issues as its refusal to address climate change and its coupling of CEO and Chairman of the Board.
Global Warming Shareowner Resolution Filed at "Filthy Five" Electric Companies (01/17)
A coalition of institutional investors has filed a shareowner resolution calling on five electric power producers to report on the business risk of their greenhouse gas emissions.
Utilities: They're Not Just for Widows and Orphans Anymore (10/04)
Utilities may represent a wise investment in this bear market, especially for socially responsible investors seeking to capitalize on companies that have the best environmental records.
Alternative Strategies for the Alternative Energy Sector (08/14)
The recent downturn in alternative energy stocks is not necessarily reason for social investors to abandon the sector altogether.
Rio + 10 Series: Business Action Addressing Biodiversity is a Rare Species (08/09)
The Center for Environmental Leadership in Business’ Energy and Biodiversity Initiative represents one of very few business actions that support biodiversity conservation.
Oil and Gas Company Environmental Risk Should Concern Investors (07/25)
Innovest and the World Resources Institute released reports this week that illustrate how environmental risk can affect the shareowner value of oil and gas companies.
Rio + 10 Series: Progress and Regress--Energy Sectors Report on Their Efforts Toward Sustainability (07/05)
Three industry sectors that supply energy--oil and gas, coal, and electricity--reported on their improvements and shortcomings in sustainable development since the Rio Summit.
Rio + 10 Series: A Brief History of the Earth Summits--From Stockholm to Rio (06/07)
SocialFunds.com examines the significant events, theories, and people that contributed to the first two global summits on human interaction with the environment. (the first in a series of articles leading up to the Johannesburg Summit.)
Annual Meeting Focuses Pressure on ExxonMobil (05/24)
Some shareowners and NGOs claim that ExxonMobil's environmental and social practices are hurting the company's profitability.
Occidental Pipeline in Colombia Strikes It Rich in Washington (05/10)
The Bush Administration has proposed $98 million in military aid to protect Occidental's Cano-Limon pipeline in Colombia, despite its environmental and economic liabilities. (part two of a two-part article)
Business Ethics' 100 Best Corporate Citizens Outperform S&P 500 (04/29)
An academic study concluded that Business Ethics' list of 100 Best Corporate Citizens generated better returns than the remaining companies on the S&P 500.
Corporate Sustainability Reporting Is Here to Stay (04/05)
The Global Reporting Initiative, an organization working to make corporate performance more transparent, was formally inaugurated as an independent institution yesterday.
Verdict Still Out on Costa Rica Offshore Drilling (02/20)
Although American companies Harken Energy and MKL-Xplorations purchased the rights to drill for oil off the coast of Costa Rica in 1998, drilling has not started as local organizations voice concerns.
Consulting Firm Promotes Online Reporting of Triple Bottom Line (12/31)
SustainAbility, a British research and consultancy firm, recently released a report on how companies, their stakeholders and customers use the Internet to communicate about sustainable development.
SBI Promotes Responsible Business Practices Alongside Profits (12/27)
The Sustainable Business Institute is working to spread its vision of sustainability to business leaders and the public.
Resolution Urges ExxonMobil to Strip Chair from its CEO, a Global Warming Naysayer (12/21)
Robert Monks' resolution claims that ExxonMobil Chairman and CEO Lee Raymond's denial of global warming is harming the company's reputation and shareowner value.
Global Energy Providers Score Well in Corporate Responsibility Ratings (12/06)
New study by German research firm Oekom identifies several trends developing worldwide in the power delivery sector.
GEMI Elevates Environmental Consciousness from the Bottom to the Top Line (12/03)
The Global Environmental Management Initiative releases a new report promoting environment-friendly methods of enhancing corporate performance.
Environmentalists Attempt to Dam Hydroelectric Project (11/17)
Canadian energy supplier Fortis, Inc. faces strong opposition from environmentalists over its proposed hydroelectric dam on the Macal River in Belize.
Greenhouse Gas Protocol Initiative Creates Global Emissions Standards (11/07)
An international consortium of government agencies, NGOs, and businesses creates its own set of standards for reducing greenhouse gas emissions in advance of the Kyoto Protocol.
Businesses Convey Interest in Sustainable Mobility (11/05)
Report on the challenges of achieving long-term sustainable transportation offers multinational automotive and energy companies, as well as governments, food for thought.
EPA Program Recognizes Better Corporate Environmental Performance (11/02)
Performance Track motivates and rewards businesses that exceed EPA's environmental standards.
Reducing Greenhouse Gases by Making Fizz (11/01)
An innovative venture enables a Shell subsidiary to sell excess carbon dioxide for soft drink manufacturing, but social investors should know that the company is still miles away from being socially responsible.
Companies Get Help Building Green (10/29)
The U.S. Green Building Council makes it easier for companies to be more energy efficient and friendlier to the environment by helping them construct "green" buildings.
Social Investors Press Unocal to Cut Ties to Burma (10/24)
Social investors have become part of a sophisticated, multi-pronged campaign to keep the Burma issue in front Unocal senior management. (part two of a two-part article)
Students Push University of Virginia Out of Unocal (10/23)
Unocal is feeling pressure from activists because the company continues to do business with Burma's ruling military regime. (part one of a two-part article)
Mirant Commits $50 Million to Climate Change Solutions (10/05)
Energy company's plans include a more robust and transparent environmental policy.
Scandinavian Companies Work toward Sustainable Business Model (10/03)
A group of large Nordic companies are participating in an unusual partnership to create their view of a future sustainable company.
Book Review: The Civil Corporation (09/28)
The New Economy brings increased competition, faster dissemination of information and the rise of corporate citizenship.
EPA Partners with Businesses to Promote Green Power (09/27)
Voluntary program has enlisted companies, cities, universities and others with the aim of boosting the market for renewable energy.
Ethanol Producer Looks to Growth in Fuel Additive Market (09/20)
High Plains Corporation is expecting increasing demand for its products because of concern over MTBE's environmental impact.
ExxonMobil's Troubled Relationship in Aceh (09/19)
Questions are being raised about ExxonMobil, the world's largest integrated oil company, retaining the Indonesian army and police forces for security.
Political Contributions Bring Oil Drills Closer to ANWR (08/31)
U.S. PIRG finds unsurprising correlation between oil company political donations and House members that voted to allow drilling in the Arctic National Wildlife Refuge.
Companies Cut Pollution Through E-commuting (08/28)
A federal government pilot program will give participating companies pollution credits based on the emission reductions achieved by telecommuting employees.
Fuel Cell Stocks Lose A Little Spark (08/03)
But for the social investor who does not get jolted by volatility, the sector may generate long-term gains.
Benchmarking Corporate Environmental and Social Reporting (07/12)
Recent survey examines the environmental and social reporting practices of the 100 largest global firms.
Labor Standards Resolutions Garner Support in 2001 Proxy Season (07/11)
Ten international labor and human rights proposals that came to vote this year received 10 percent or more support from shareowners.
Americans Increasingly Interested in Corporate Citizenship (07/10)
Survey indicates that Americans are looking for good corporate citizens, but are having difficulty finding them.
Watchdog Challenges Southern Company To Clean the Air (07/06)
The "Clean-Up Southern Company" campaign led by U.S. PIRG is educating consumers about Southern Company and air pollution.
Companies Using NAFTA to Undermine Legitimate Regulations (06/12)
New report explains how the U.S., Canadian and Mexican governments' ability to regulate in the public interest is being eroded by NAFTA's Chapter 11.
Better Corporate Governance Pays Off for Large Companies in Emerging Markets (06/04)
Recent study across global emerging markets finds large companies with good corporate governance yield better bottom lines.
Magazine Industry Is Wasting Forests (05/24)
New study finds magazines use almost no recycled paper and publishers have an incentive to overproduce wastefully.
ExxonMobil Feeling Heat on Both Sides of the Atlantic (05/17)
Shareholder resolutions and boycotts put pressure on oil giant to change its stance on global warming and embrace clean energy.
Getting Boards to Address the Triple Bottom Line (05/15)
New report proposes a set of principles and actions to assist corporate boards in addressing the triple bottom line of economic, social and environmental performance.
SAM Sees Future Profits in Energy (04/25)
New European investment company will invest in companies with innovative technologies and services that realize more efficient and environment-friendly energy use.
Business Group Supports Sustainability Via the Market Economy (04/24)
New report identifies seven factors companies must address in order to realize sustainable practices.
Major UK Fund Manager to Require Environmental Reporting (04/19)
Institutional investors are increasingly seeing the need for environmental disclosure.
Environmental Groups Endorse Shareholder Resolutions (04/12)
Environmental advocates ask for support for pro-environmental resolutions at a wide range of companies.
Do You Own Nuclear Power Stock? (04/10)
Well-known conventional mutual funds and asset managers are looking to catch profits from nuclear power’s revival.
Thirty-one Companies to Test Sustainability Reporting Guidelines (04/06)
Structured feedback will help shape the next generation of Global Reporting Initiative guidelines.
Shopping for Responsibility (04/02)
Internet site is helping consumers base shopping decisions on values.
European Members Urged to Halt Oil Activity in Sudan (03/30)
U.K.-based charity calls for companies to suspend operations that are supporting an ongoing war.
Procter & Gamble Heads List of 100 Best Corporate Citizens (03/28)
Business Ethics magazine recently published their annual rankings of the companies that best serve a diverse group of stakeholders.
Shareholder Resolution Vote Nudges Emerson on Equality (03/07)
Support from shareholders at annual meeting pushes electronic manufacturer to reconsider implementing a sexual orientation non-discrimination policy.
BP Amoco Feeling Pressure on PetroChina Holdings (02/20)
Protests held last week support a shareholder resolution demanding BP Amoco's divestiture from Chinese energy company.
Report Finds Oil Industry Responsible for Environmental Impact (01/14)
Transnational Resource and Action Center report calls on stakeholders to confront oil companies and call for "climate justice."
Texaco Three Years After the Fall (01/13)
Rising from the ashes of a racial discrimination scandal, the oil giant has become a model for challenging corporate racism.
Green Century Co-sponsors Resolution Against ARCO (01/05)
Environmental advocates re-file shareholder resolution calling on oil giant to cancel drilling plans in the Arctic National Wildlife Refuge.
BP Amoco Leads the Industry into a Greener Future (12/23)
Several recent steps taken by BP Amoco to improve environmental performance have highlighted its leadership in the oil industry.