The theme of this year’s World Water Day was “Water and Climate Change” – a connection that fits neatly with SHARE’s work in recent years on shareholder engagement and policy work related to water. One thing that COVID-19 has made clear is that there is enormous capacity for coordinated global action – when there is the impetus and will to do so.
Following a longstanding engagement between SHARE and Cenovus Energy Inc., the company has committed to reducing its greenhouse gas (GHG) emissions intensity by 30% by 2030 and to keep absolute GHG emissions flat during that same period. It also announced an “ambition” of reaching net zero emissions by 2050.
At SHARE we have been thinking about how our work to build a sustainable economy fits into and is impacted by the unfolding crisis. We are looking at companies’ pandemic responses that include valuing decent work practices for all employees.
What happens, in the event of insolvency, to unreclaimed wellsites, tailings ponds, and other lands affected by oil exploration? Learn about the recommendations from SHARE.
SHARE’s CEO, Kevin Thomas, provides an update on measures our organization is taking in response to COVID-19, as well as preparation for its economic aftershocks.
Holding an electronic shareholders’ meeting is a sensible precaution to take in the face of the coronavirus pandemic. However, SHARE is concerned that companies may continue to hold virtual shareholders’ meetings once the threat has passed, making virtual meetings their new normal.
At the SHARE Investor Summit’s opening plenary, Sharan Burrow, General Secretary of the International Trade Union Confederation, spoke about the urgency with which we must address growing inequality, the climate crisis and respect for Indigenous rights and economic reconciliation.
These are tumultuous times at the US Securities Exchange Commission (SEC) as the agency undertakes efforts to revise rules governing shareholder rights and corporate accountability. The SEC has proposed extensive changes resulting from concerted corporate lobbying effort aimed at Trump appointees to the SEC to roll back investor protections and insulate CEOs from accountability to shareholders.
SHARE monitored the quarterly calls of some of the biggest companies in the world to see if they have reacted to the US Business Roundtable’s statement on the purpose of a corporation.
Even as some energy sector leaders publicly endorsed the Paris Agreement, they engaged in intensive direct lobbying and financed trade associations, think tanks or political campaigns that hindered development of effective climate regulations. The misalignment between corporate rhetoric and political advocacy also constitutes a material risk for investors.