As You Sow
The nation's leading non-profit shareholder advocate, changing corporations for good
[link removed]


Dear John,

On May 26th shareholders sent an unmistakable message that – as the Washington Post put it – “Change is coming, whether the oil industry likes it or not.”

- Shareholders forced Exxon to accept five new board members (three elected and two separately negotiated) with a mandate of transformation and climate transparency, even as management dug in its heels in opposition
- An astounding 48% of Chevron shareholders voted in favor of our resolution requiring that carbon emissions be audited, just like financials; and on an allied resolution 61% of shareholders voted to require Chevron to account for its “Scope 3” emissions – the emissions caused by burning the oil and gas it sells. These linked ideas – required auditing that includes Scope 3 emissions – have the potential to transform every public company in the U.S.

My quote in Politico ([link removed]) sums it up: “A powerful signal has been sent to every oil company, to every company that’s polluting, to every company that’s in the economy [that] these boards can’t continue ignoring their shareholders. Shareholders have said ‘enough’. Shareholders are using their power. This has been a long time coming.”

Our work is part of a growing wave of climate action. Last week alone, in addition to the spectacular Exxon and Chevron shareholder votes,
- In the Netherlands, the courts required Shell to reduce carbon emissions from its oil & gas production and sales by 45%
- Ford launched an electric version of its massively popular F-150 pickup truck with the breezy slogan "Say goodbye to gas"
- Indonesia, the world's biggest coal-exporting country, made the stunning announcement that it will not allow any new coal power plants
- A new study of trends since 2015 was released, showing that sales of electric vehicles have increased by 41% every year. If sales simply continue at that same rate, by 2040 all light-duty passenger vehicles will be powered by electrons, not petroleum

If any single week can be designated a tipping point, it was last week. It’s taken an immense amount of tenacity and perseverance to get here – we’ve been engaging Exxon, Chevron, and multiple other oil & gas companies for well over a decade. Our work, grounded in research, expressed in data, and shaped into action is making powerful change, globally.

Last week saw truly historic milestones. Together, we’ll take it all the way.

Yours for a just and sustainable future,
Andrew Behar
CEO



DONATE TODAY
[link removed]


[link removed]

[link removed]

[link removed]

[link removed]

[link removed]

As You Sow

Address:
2150 Kittredge St
Suite 450
Berkeley, CA 94704

Mailing address:
Main Post Office
PO Box 751
Berkeley, CA 94701

DISCLAIMER: As You Sow is not an investment advisor, nor do we provide financial planning, legal or tax advice. The content of our programming, publications and presentations is provided for informational and educational purposes only, and should not be considered as information sufficient upon which to base any decisions on investing, purchases, sales, trades, or any other investment transactions. We do not express an opinion on the future or expected value of any security or other interest and do not explicitly or implicitly recommend or suggest an investment strategy of any kind.

Copyright © 2021, All rights reserved  

You're getting this email because you've signed up for email updates

Update Subscription Preferences

[link removed]