FirstEnergy Corporation is a diversified energy company involved in generation, transmission, and distribution of electricity.
Shareholders Vote for Greenhouse Gas Reductions at Midwest Utilities
Calling for Climate Action, Shareholders Ask FirstEnergy and Great Plains Energy to Address Coal Pollution by Setting Greenhouse Gas Reduction Targets
Citing climate change impacts and financial risks of carbon-intense coal assets, shareholders representing billions of dollars of assets voted for carbon reduction targets at FirstEnergy and Great Plains Energy, showing strong support for a pair of shareholder proposals put forth by As You Sow and investment group Calvert Investments. The proposal at FirstEnergy received support from 19.4% of shares voted, representing $2.2 billion in investments. At Great Plains Energy, one in three shareholders (33.8%) voted for the proposal, representing $872 million in investments voting in favor of carbon reduction goals. In total, $3 billion in shareholder assets demanded climate action from the utilities.
As You Sow has engaged with FirstEnergy on issues related to coal. Read more about our engagements with Chevron below.
Shareholders request that FirstEnergy, with Board oversight, produce a report, at reasonable cost and omitting proprietary information, assessing the long-term portfolio impacts of a scenario consistent with the internationally recognized Paris Agreement goal of limiting global increase in temperature to 2 degrees Celsius.
Related 2018 Engagements
BE IT RESOLVED:
Shareholders request that FirstEnergy prepare a report, at reasonable cost and omitting proprietary information, disclosing its strategy for aligning business operations with the 2015 Paris Agreement’s goal of limiting global warming to a maximum of 2 degrees Celsius, while maintaining the provision of safe, affordable, reliable energy.
Related 2017 Engagements
BE IT RESOLVED: Shareholders request that FirstEnergy prepare a report by September 2016, omitting proprietary information and at reasonable cost, quantifying the potential financial losses to the company associated with stranding of its coal generation facilities under a range of climate change driven regulation scenarios that mandate greenhouse gas reductions beyond those required by the Clean Power Plan.
Related 2016 Engagements
BE IT RESOLVED: Shareholders request that FirstEnergy create specific, quantitative, time bound carbon dioxide reduction goals to decrease the company’s corporate carbon dioxide emissions, and report by September 2015 on its plans to meet the carbon reduction goals the company adopts.
Related 2015 Engagements
STATUS: Withdrawn; Company will address
FirstEnergy, an Ohio-based energy producer, has agreed to produce a comprehensive report on the
company’s plan to reduce greenhouse gas emissions. As a result, a shareholder resolution co-filed by DiNapoli, Connecticut Treasurer Denise L. Nappier on behalf of the Connecticut Retirement Plans and Trust Funds, and investment group As You Sow has been withdrawn.
Find more FirstEnergy 2014 press coverage and press releases.
Related 2014 Engagements
STATUS: Blocked by Company at SEC
Shareowners request that FirstEnergy adopt strategies and quantitative goals to reduce the company’s impacts on, and risks to, water quantity and quality, above and beyond regulatory compliance, and to report to shareholders by September 2013 on progress. Such a report should omit proprietary information and be prepared at reasonable cost.
Related 2013 Engagements
Shareowners request that FirstEnergy Board of Directors report to shareholders by December 2012, at reasonable cost and omitting proprietary information, on plans to reduce our company’s exposure to coal‐related costs and risks, including progress toward achieving specific goals to minimize commodity risks, emissions other than greenhouse gases, and costs of environmental compliance.
Related 2012 Engagements
Resolved: Shareowners request that FirstEnergy’s Board of Directors, at reasonable cost and omitting proprietary information, issue a report by November 2011 on the financial risks of continued reliance on coal contrasted with increased investments in efficiency and cleaner energy, including assessment of the cumulative costs of environmental compliance for coal plants compared to alternative generating sources.
Find more FirstEnergy 2011 press coverage and press releases.
Related 2011 Engagements