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.
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.
Urgently, banks must fully integrate climate change considerations into their business strategies, lending policies and practices to enable Canada to reduce its greenhouse gases in a way that limits the harmful impacts of climate change. Over the past several years, SHARE has been engaging with Canadian banks, asking them to do just this – and we are seeing some positive momentum begin to take shape
SHARE staff is joining millions of people around the work for the Global Climate Strike on November 27 because we believe in building a sustainable, inclusive and productive economy.
Thirteen of the 17 banks financing the Dakota Access Pipeline were signatories to the Equator Principles, despite concerns being raised. This finding makes it clear that the framework has been ineffective in identifying the significant risks to Indigenous rights and is in need of reform.
Emboldened in part by the Trump administration and its appointees to the SEC, a number of industry associations are driving attacks on corporate accountability with a full-court press, arguing that shareholder proposals and proxy advisory services are creating an undue burden for companies.
At the SHARE Investor Summit 2020 join pension funds, Indigenous trusts, foundations, endowments and others to forge responsible investor alliances for a sustainable, inclusive and productive economy.
Working with institutional investor clients, last quarter SHARE filed proposals at five top Canadian oil and gas companies, asking for meaningful reduction targets for methane, an extremely potent greenhouse gas.
Vote, measure, manage.
Did TD just raise the bar for climate action at Canadian banks?
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