SEC Blocks More Shareholder Climate Resolutions, Citing ‘Micromanagement’

"The Securities & Exchange Commission has more Trump appointees now, and energy and utility companies see an ally as they try to stop investors' climate resolutions."

"Investors' efforts to get energy and utility companies to set greenhouse gas reduction targets and disclose their plans for meeting those goals are facing more hurdles now than in the past five years.

Nearly two-thirds of the climate-related shareholder resolutions filed with publicly held energy and utility companies this year have been contested before the U.S. Securities and Exchange Commission, an agency now dominated by appointees of President Donald Trump who appear more sympathetic to the fossil fuel industry.

So far this year, the SEC has sustained 45 percent of the challenges, the highest percentage in the last five years."

David Hasemyer reports for InsideClimate News May 2, 2019.

Source: InsideClimate News, 05/03/2019