A wide variety of resolutions have been filed for this proxy season, targeting issues like fracking, political contributions, network neutrality and oil sands. Natural gas hydraulic fracturing is the subject of resolutions at 9 oil and gas companies including ExxonMobil, Chevron, Cabot and Southwestern. The resolutions call for the disclosure of plans for managing water pollution, litigation and regulatory risks, and were coordinated by the Investor Environmental Health Network and Green Century Capital Management with assistance from Ceres.
Investors involved are Domini, As You Sow, Trillium and Miller/Howard. New York City Comptroller John Liu and the city’s pension funds have called on 6 companies to disclose their political contributions, including Charles Schwab, Coventry Health, DTE Energy and Sprint. These companies in particular were unresponsive during the 2010 proxy season, while AES Corp, Altria, Humana and Norfolk Southern agreed to be more transparent.
Further, Liu called on Siemens to sever all ties to the US Chamber of Commerce, as they’ve ‘vigorously opposed’ environmental reform. Trillium alone filed several resolutions in January against companies such as Ford, Halliburton, Comcast, AT&T, Dentsply, ExxonMobil, ConocoPhillips and Chevron.
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Responsible-Investor.com asserts that ‘battle lines have been drawn’ this proxy season with the issues that have been raised in the resolutions. How do you think the targeted companies are going to deal with it? Do you think they’ll oblige with the shareholders, or push back if they disagree? If there is pushback, what could the ramifications be for these companies? Discuss!