Global warming shareholder proposals received the highest ever support in the 2008 proxy season, according to data from Ceres and the Interfaith Center on Corporate Responsibility.
Of a record 57 shareholder proposals filed with U.S. companies, 25 were withdrawn by proponents after the companies agreed to positive climate-related commitments.
The 26 resolutions that went to a vote won a record average 23.5% of voting support.
Five resolutions were omitted or withdrawn because of technicalities. One remaining proposal, at Meredith Corp., Des Moines, Iowa, will be decided by shareholders at the Nov. 5 annual meeting. The company hasnt issued its proxy statement yet. Mike Lovell, investor relations representative, didnt respond by press time.
Last year, of 43 global warming proposals, 15 went to a vote and averaged support of 21.6%. Another 15 proposals were withdrawn by proponents after reaching agreements on positive action over climate concerns, while 13 proposals were excluded by companies or withdrawn by filers for technical reasons.
Ceres and ICCR helped coordinate the shareholder proposal filings.