2014 Annual Meeting: 9:00 AM EDT, Tuesday, May 13, 2014
The Hyatt Market Street Hotel, 9595 Six Pines Drive, Suite 1100, The Woodlands, Texas, 77380
Anadarko has two pending ESG shareholder proposals in 2014.
- ENVIRONMENT: Carbon Bubble
- This proposal, submitted by As You Sow on behalf of the Park Foundation, states:
Given the growing public concern about climate change, investors are concerned that actions to significantly reduce GHG emissions could reduce the value of Anadarko’s oil and gas reserves and/or related infrastructure before the end of their expected useful life.
Shareholders request Anadarko to prepare a report by September 2014, omitting proprietary information and prepared at reasonable cost, on the company’s goals and plans to address global concerns regarding fossil fuels and their contribution to climate change, including analysis of long and short term financial and operational risks to the company.
Shareholders recommend the report include:
The risks and opportunities associated with various low-carbon scenarios, including reducing GHG emissions by 80 percent by 2050, as well as a scenario in which global oil demand declines due to evolving policy, technology, or consumer responses to address climate change;
Whether and how the company’s capital allocation plans account for the risks and opportunities in these scenarios;
How the company will manage these risks, such as reducing the carbon intensity of its assets, diversifying its business by investing in lower-carbon energy sources, or returning capital to shareholders;
The Board of Directors’ role in overseeing capital allocation and climate risk reduction strategies.
- POLITICAL ACTIVITY: Political Spending
- The New York State Common Retirement Fund proposes that Anadarko Petroleum provide a semi-annual report disclosing the company’s:
1. Policies and procedures for making, with corporate funds or assets, contributions and expenditures (direct or indirect) to (a) participate or intervene in any political campaign on behalf of (or in opposition to) any candidate for public office, or (b) influence the general public, or any segment thereof, with respect to an election or referendum.
2. Monetary and non-monetary contributions and expenditures (direct and indirect) used in the manner described in section 1 above, including:
a. The identity of the recipient as well as the amount paid to each; and
b. The title(s) of the person(s) in the Company responsible for decision-making.
The report shall be presented to the board of directors or relevant board committee and posted on the Company’s website.
Download Proxy Preview 2014 to find more carbon bubble and political spending resolutions.