The Way We Influence Change

Climate Shareholder Resolutions

Since 2002, when Calvert filed a shareholder resolution against a utility on GHG emissions, we have seen a fast moving landscape where companies and whole industries are now acting on and managing their climate change-related risks. We continue to advocate and dialogue with companies to disclose and reduce their greenhouse gas emissions footprint. Since 2002, we have filed over two dozen shareholder resolutions related to climate change – focusing on disclosure, sustainability reporting, emissions reductions, and climate impacts.

Click here for more information on Calvert's recent filings

Company examples

IDACORP

On May 20, 2009, Calvert, Trillium Asset Management, and As You Sow received a historic 52 percent of votes for their shareholder resolution calling on IDACORP, an Idaho-based utility company, to establish greenhouse gas emissions reduction goals and to report on its plans to meet them. The IDACORP vote is 25 percent higher than the highest vote on any U.S. climate change resolution thus far. Calvert views the IDACORP vote as having substantial ripple effect for future climate resolutions and for all investors across the country concerned about the materiality of the impacts on climate change.

Hertz

On March 8, 2009, Calvert filed a shareholder resolution with Hertz Global Holdings to encourage better environmental practices by the rental car company. After a constructive dialogue with Hertz, Calvert withdrew its resolution. The company agreed to publish a sustainability report that includes historical and current performance data on the fuel economy of its in-use fleet, and provide future goals for reduction. Calvert is pleased with the success as the rental car industry has been lagging behind regarding environmental transparency and hopes that this success will help to encourage industry peers to take similar steps.

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Last Updated: September 22, 2009