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jpak Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-18-07 02:42 PM
Original message
Investor group unveils climate blacklist
http://www.ft.com/cms/s/de35e08a-bb74-11db-afe4-0000779...

A coalition of US institutional investors has stepped up pressure on corporate America to do more on environmental issues by accusing 10 companies of failing to address climate change and global warming.

The move by Ceres, a group of state pension funds, environmental and religious groups with more than $200bn in assets, highlights a rise in investor and political demands on business to do more to deal with environmental problems.

The publication of the blacklist which names the oil group ExxonMobil, financial services group Wells Fargo and utility TXU coincided with the filing of shareholder motions at more than 35 companies demanding action on climate change. The list also includes the oil group ConocoPhillips, retailer Bed Bath & Beyond and insurer ACE.

<snip>

The 10 companies:

* Banking and financial: Wells Fargo
* Electric power: TXU, Dominion Resources, Allegheny Energy
* Coal: Massey Energy and Consol Energy
* Insurance: ACE
* Oil & Gas: ExxonMobil and ConocoPhillips
* Retail: Bed Bath & Beyond

<more>
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fed-up Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-18-07 03:39 PM
Response to Original message
1. no kicks? no recs? don't people want to know where to spend/invest $$$ nt
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halobeam Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-18-07 03:52 PM
Response to Original message
2. I'll give that a kick.... and a rec!
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robinlynne Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-18-07 05:13 PM
Response to Original message
3. kick kick kick, but why bed bath and beyond? up there in the list with exxon....
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bananas Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-18-07 05:19 PM
Response to Reply #3
5. The official press release gives more details
"Bed, Bath & Beyond: Unlike Lowe’s, the Home Depot and other major retailers, Bed Bath & Beyond has been unresponsive to shareholder requests that it disclose its strategies and performance on energy efficiency and other climate related issues. Last year’s resolution requesting a report on its energy efficiency efforts received more than 27 percent support. This year’s resolution was filed by the Nathan Cummings Foundation and the Sierra Club Mutual Fund. (Nathan Cummings Foundation Contact: Laura Shaffer, 212-787-7300 x233)"

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bananas Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-18-07 05:16 PM
Response to Original message
4. Here's the link to the official press release at ceres.org
Edited on Sun Feb-18-07 05:20 PM by bananas
Link embedded in the ft.com article,
it's lengthy so I only excerpted one paragraph:
http://www.ceres.org/news/news_item.php?nid=267

<big snip>

In addition to the Climate Watch companies, investors filed resolutions with the following other businesses. The list of investors filing resolutions with each of the companies can be found at http://www.ceres.org or http://www.iccr.org

<snip>

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nolabels Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-18-07 05:23 PM
Response to Original message
6. Bed Bath & Beyond?
Hold the phone, can I get double check on that one :shrug:

This must be some kind of strategic thing. I could think of a couple dozen companies just off the top of my head that could have been a better fit. The most stupid thing to me would with so much power rolled up into all that cash, why couldn't they just start finding some really hot companies that are life enhancing and just forget about all the dancing around the subject stuff.
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Morgana LaFey Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-18-07 07:10 PM
Response to Original message
7. FannnnnTabulous!
THIS is the way to get it done in the absence of (a) kickass legislation and/or (b) thoroughly responsible self-motivation.
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Straight Shooter Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-18-07 08:02 PM
Response to Original message
8. BB&B. But I love their glossy full-page ads, it's sooo environmentally friendly.
:sarcasm:

K&R
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robinlynne Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-18-07 09:24 PM
Response to Reply #8
9. My toaster broke. I have plans to go there tomorrow morning. I always buy from
socially responsible companies. I am crushed.
Really, I have never been inside a walmart in my life. I dont buy exxon/mobil ever. I'm trying to get a car which does not run on gasoline at all, because I hate giving my money to companies whihc ruin the world, but I never thought bbb would be off limits.... ahh.
(half sarcastic. I'm over it already.)
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kestrel91316 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-18-07 10:36 PM
Response to Reply #9
10. I don't have a toaster anymore. Just a toaster oven - it's more versatile.
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Straight Shooter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-19-07 12:31 AM
Response to Reply #9
11. .
http://www.buyblue.org Maybe they'll have a good company listed. (I hope I got the name of the site right)

It's getting harder and harder. I won't buy from Penney's anymore because they buy from companies which use dog fur (raccoon dog) on their coats, and the dogs are skinned alive. Gawd almighty. It sounds like an urban legend, but the story was on MSNBC and the spokesperson said they will NOT stop carrying those coats.
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robinlynne Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-19-07 11:55 AM
Response to Reply #11
12. we need to take power and shift these values around! They are all backwards.
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