strategy

Promoting environmental shareholder activism

Implementation:
At their anual meeting in April 1999, thirteen percent of Occidental Petroleum shareholders, totaling over 40,000,000 shares, voted in favor of a resolution presented at the annual shareholder meeting to carry out an analysis of the risks associated with an oil project planned for U'wa people's land in the Colombian rainforest. The resolution, introduced by the Sinisawa Domican sisters, was endorsed by shareholders that own some $800,000,000 worth of Oxy stock.

In 1999 three percent of McDonalds shareholders voted in favor of eliminating styrofoam packaging, and the company took action. Also, some ten percent of Sun Oil shareholders voted to have the company adopt the strict environmental guidelines for its operations, and today Sun has put in place such standards.

Subjects:
Promotion
Investment
Environment
Type Classification:
E: Emanations of other strategies