Home Stocks SEC Rules Anadarko Must Include Global Climate Risk Disclosure

SEC Rules Anadarko Must Include Global Climate Risk Disclosure

SEC Rules Anadarko Must Include Shareholder Proposal Requesting Disclosure on Company’s Alignment with Paris Greenhouse Gas Reduction Goals

Oakland, CA—March 6, 2019—The U.S. Securities and Exchange Commission (SEC) ruled Monday that Anadarko Petroleum Corporation cannot exclude a shareholder proposal filed by As You Sow. The proposal asks the company to issue a report describing if, and how, it plans to reduce its greenhouse gas emissions to align with the Paris Agreement’s goal of avoiding catastrophic climate change.

Know more about Russia than your friends:

Get our free ebook on how the Soviet Union became Putin's Russia.

Q4 hedge fund letters, conference, scoops etc

This proposal begins where company-specific climate risk assessments leave off, focusing on the risk the company is creating to the global climate from the full range of its operations, investments, and products, and whether and how Anadarko plans to reduce this impact.

The SEC found that the proposal “transcends ordinary business matters and does not seek to micromanage the company to such a degree that exclusion of the proposal would be appropriate.”

Danielle Fugere, president of As You Sow, had this to say about the SEC ruling:

“This important SEC decision allows shareholders to ask a company like Anadarko to disclose whether it is taking responsibility to reduce the full range of its climate emissions — from its operations through its products. A warming climate, and the litany of daily harms it causes to people, the environment, and the economy, translates into lost value to shareholder portfolios. And these harms are projected to grow over time.

“Shareholders can now benchmark companies against one another in terms of their climate actions and responsibility. Where companies disclose they are not acting in line with global climate needs, shareholders can move their investments to those companies that are.”

For more information on As You Sow’s work on climate change, click here.

As You Sow is a nonprofit organization that promotes environmental and social corporate responsibility through shareholder advocacy, coalition building, and innovative legal strategies. Click here to see As You Sow’s shareholder resolution tracker.


A Premium Investing Resource
An Absurdly Low Price

“ValueWalk provides an invaluable service—bringing together the best and most important commentary in the world of value investing, all in one place.”

Maybe THAT kind of insight makes it clear that ValueWalk Premium is worth another look.

It seems like a pretty easy decision.

One that will help make bigger, better decisions in the future.

Exit mobile version