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Investor Support of Portfolio Resilience Resolutions
Climate change poses material financial risks, and increasing numbers of investors have been calling on the companies they own to perform 2 Degree Scenario Analysis (2DS) to demonstrate portfolio resilience. Last year's resolutions at nine major oil and gas and utility companies garnered some of the highest votes in history on climate risk at U.S. companies.
The case for 2 Degree Scenario Analysis is even stronger now that this risk management tool has been endorsed by the Financial Stability Board's Task Force for Climate-related Financial Disclosures (TCFD) as one of the cornerstones of decision-useful climate disclosure. This year, 2 Degree Scenario Analysis resolutions are pending at the following fossil fuel companies:
| ExxonMobil | Devon Energy | First Energy | Noble Energy |
| Chevron | Dominion Resources | Hess | Occidental Petroleum |
| AES Corporation | DTE Energy | Kinder Morgan | PPL |
| Ameren | Duke Energy | Marathon Petroleum | Southern Company |
The list of the investors who have pre-declared their support for these proposals will be regularly updated below. The first resolution will go to a vote on April 20th at AES Corporation. Pre-declarers are listed below.
Resolution text for each company can be accessed via the Ceres Shareholder Resolution Tracker. For more information, or to pre-declare your organization's vote, please contact Shanna Cleveland.
| AES Corporation | |
| Aegon | New York State Common Retirement Fund |
| AXA Investment Managers | Province of St. Joseph of the Capuchin Order |
| CalPERS | Seattle City Employees' Retirement System |
| Connecticut Retirement Plans and Trust Fund | Seventh Generation Interfaith CRI |
| First Affirmative Financial Network | Sisters of St. Dominic of Caldwell NJ |
| HSBC Global Asset Management | Sonen Capital |
| Inflection Point Capital Management UK Ltd. | The Nathan Cummings Foundation |
| Macroclimate LLC | The Pension Boards-UCC, Inc. |
| Mercy Investment Services | Unitarian Universalist Association |
| Nancy Kopp, Maryland State Treasurer | Vermont State Treasurer Elizabeth Pearce |
| New York City Pension Funds | Wespath Benefits and Investments |
Disclaimer:
THIS IS NOT A REQUEST FOR A SOLICITATION OF PROXIES. THIS IS SOLELY A REQUEST FOR A SHOW OF SUPPORT BY PUBLICLY DECLARING YOUR INTENTION TO VOTE IN FAVOR OF THE REFERENCED PROPOSALS ON THE MANAGEMENT’S PROXIES.
THIS DECLARATION CONSTITUTES A COMMUNICATION BY A SECURITY HOLDER STATING HOW THE SECURITY HOLDER INTENDS TO VOTE WHICH IS BEING MADE BY MEANS OF PRESS RELEASES, PUBLISHED OR BROADCAST OPINIONS, STATEMENTS, OR ADVERTISEMENTS APPEARING IN BROADCAST MEDIA, NEWSPAPER, MAGAZINE OR OTHER BONA FIDE PUBLICATION DISSEMINATED ON A REGULAR BASIS, PURSUANT TO 17 C.F.R. 240.14a-(1)(l)(2)(iv).
