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Large corporations successfully block shareholder climate proposals
This year's proxy season saw major corporations successfully dismissing many climate-related shareholder proposals, raising questions about SEC's role in shareholder democracy.
In short:
- Climate investors struggled to pass shareholder proposals on emissions and renewable energy, with the SEC approving company requests to exclude 68% of these proposals.
- Companies like Bank of America and Walmart were able to block several proposals on greenhouse gas disclosure, while ExxonMobil took legal action against activist investors.
- SEC's leniency towards companies this year mirrors the Trump administration's approach, despite Biden’s 2021 directive to support shareholder climate information requests.
Key quote:
“Of all institutions, the SEC should understand the importance of these proposals, the importance of shareholder democracy, the ability to raise issues of concern with companies and management and boards.”
— Danielle Fugere, president and chief counsel at As You Sow
Why this matters:
Shareholder proposals are crucial for pushing companies to address climate issues. The SEC's current stance makes it harder for climate activists to influence corporate policies, potentially delaying necessary actions to combat climate change.
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Greece embraces energy democracy with citizen-driven renewable energy
Greek citizens are increasingly generating their own renewable energy, despite challenges like limited grid space.
In short:
- Hyperion, Athens' first democratic renewable-energy community, mirrors Germany's energy cooperatives.
- Greece's high solar potential is driving a shift towards renewable energy, with a significant increase in wind and solar power generation.
- Energy communities in Greece aim to democratize the energy sector and contribute to social justice by supporting low-income households.
Key quote:
"We're taking things into our own hands, producing our own energy, democratizing the energy sector and speeding up the transition in a societally fair and participatory way."
— Takis Grigoriou, co-founder of Hyperion.
Why this matters:
The rise of energy communities in Greece represents a grassroots movement toward sustainable energy, highlighting the role of citizen participation in combating climate change and promoting energy independence.
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Opinion
James Gustave Speth: Opening a new path on climate and the future
Adapting to climate change does not address the societal systems and values that spawned the current crisis. What’s needed is “systemic adaptation” that fundamentally changes our economy, our politics, and our priorities in ways that put community and the planet first.
Newsletter
Photo by Chris Carzoli on Unsplash
Ambitious climate proposition faces fossil fuel backlash in El Paso
Sunrise El Paso put forward a charter amendment to transition the city off fossil fuels and explore creating a municipal electric utility. The chamber of commerce and the fossil fuel industry are mounting a scorched earth campaign to kill it.
Newsletter
Bold climate protests are triggering even bolder anti-protest laws
Increasingly bold climate protests are triggering a wave of harsh new laws in Western nations that aim to prevent the type of disruptive demonstrations experts say have long played an important role in healthy democracies.
How voter suppression and gerrymandering by the Texas GOP derails environmental justice
Voter suppression blocks calls by Texans of color for regulation and climate action.
Newsletter
Photo by Alexis Brown on Unsplash
30 ways environmentalists can participate in democracy
Voting on election day is job one, but the planet needs your civic commitment every other day of the year, too.
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