While boards of directors have not typically held responsibility for workforce issues, it’s now abundantly clear that how frontline workers are treated cannot be an afterthought. It has to be central to how corporate boards think about a company’s success.
SHARE is encouraged by announcements which will hopefully both provide much-needed support for workers and communities that are most affected during these difficult times, and allow the oil and gas sector to accelerate efforts to transition to a low-carbon economy
Ovintiv Inc., a leading oil and gas producer in North America, has not made clear how it plans to reduce its emissions and manage its climate-related risks in an increasingly carbon-constrained environment. Unlike many of its peers, Ovintiv has not disclosed any climate-related targets, resulting in uncertainty for investors about how climate-related risks are being managed.
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.