This year investors are emphasizing climate risk as part of their push to get companies to address global warming, while treading more carefully around issues related to pay linked to sustainability goals, according to market watcher. …This year so far, investors have filed 19 climate change-related resolutions that mention climate risk at S&P 500 companies… Continue reading Climate Resolutions See Sustained Support, Despite ESG Backlash
Tag: Climate Change
What the SEC Wants Now in ESG
In this opinion piece for Accounting Today, Ron Kral of Kral Ussery uses CompanyIQ comment letter data to suggest that companies need to be ready for ESG disclosures. Below is an excerpt. While the environmental, social and governance arena may soon see a seismic shift in disclosure requirements, there has been no shortage of regulatory… Continue reading What the SEC Wants Now in ESG
As Investors Zero In on Climate Targets, Companies Lag Behind
Investors are ramping up their scrutiny of medium-term emissions reduction targets and are planning to hold boards accountable if they don’t pass muster. Proxy advisory firm ISS’s recent benchmark survey results show that a significant number of 188 investors told ISS that a lack of “realistic” medium-term emissions reduction targets for Scope 1 and 2… Continue reading As Investors Zero In on Climate Targets, Companies Lag Behind
SEC Faces Tug of War Over Scope 3 Requirements
The debate over the Securities and Exchange Commission’s climate disclosure rule is continuing to heat up as all sides press the commission on a proposed requirement for public companies to disclose greenhouse gas emissions from supply chains and other sources outside of companies’ direct control, also known as Scope 3 emissions. Companies will also have… Continue reading SEC Faces Tug of War Over Scope 3 Requirements
As Companies Grapple with Scope 3, Scope 4 Comes into Play
California utility Pacific Gas & Electric Company recently published a climate strategy report that highlights a new category of greenhouse gas (GHG) emissions that the company calls Scope 4. According to PG&E, the category accounts for the emissions it enabled its customers to reduce. “As a utility that provides gas and electric service to millions… Continue reading As Companies Grapple with Scope 3, Scope 4 Comes into Play
Ho-Hum Support for Climate Proposals at Early Meetings
Several climate-related shareholder proposals went to a vote last week at S&P 500 companies, and most of them failed to garner more than 15% of the vote. While it is unusual for first-time proposals to win high levels of support at annual meetings, the focus on environmental issues among investors and proxy advisors had suggested… Continue reading Ho-Hum Support for Climate Proposals at Early Meetings
New Investor Policies ‘Highly Likely’ to Increase Negative Director Votes
State Street Global Advisors’ (SSGA) CEO Cyrus Taraporevala is ramping up expectations for companies to boost disclosures and update strategies on board and employee diversity as well as climate change this year. Taraporevala’s letter to board members on the firm’s 2022 proxy voting agenda, released this month, warns that the firm will vote against directors… Continue reading New Investor Policies ‘Highly Likely’ to Increase Negative Director Votes