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U.S. shareholders seek oil-company “climate” profit

Published Feb 14, 2007

REC wafer
courtesy REC

American investors wielding over $200 billion in managed assets — pension funds, foundations and institutional investors — resolved late Tuesday to try voting ExxonMobil and ConocoPhillips into making money on climate-saving technology.

The group penned 10 companies, not all oil and gas, onto a Climate Watch List of firms doing less than their industry peers on climate change. The shareholders used their proxy shareholder billets to file “resolutions” seeking “greater disclosure on the companies’ responses and strategies for profiting from climate-related business trends.”

The action appears to be lead by Ceres (pronounced “series”), a network of investors, greens and interest groups tackling global warming.

 

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