environmental justice

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The risks associated with climate change and systemic racism are intertwined; global warming past 1.5°C will have a heightened impact for Black, Indigenous, and other communities of color in the U.S. and abroad, and companies engaged in fossil fuel production or consumption infrastructure have a long track record of disproportionately harming Black, Indigenous, and other communities of color. These links have deep historical antecedents: researchers found that historical redlining of minority neighborhoods in more than 100 American cities has placed a heavier burden on these neighborhoods’ residents from extreme heat than other communities.

Each year, asset managers have the opportunity to hold boards of directors accountable at companies that are seriously misaligned with limiting global warming to 1.5°C. Given the disparate impacts of climate change and fossil fuel production, shareholders should also view climate-related director elections and shareholder proposals through a racial equity lens in making proxy voting decisions.

Majority Action’s PV 1.5 proxy voting guide provides guidance on climate-related director elections.

In the 2023 proxy season, Majority Action and SEIU are tracking environmental justice shareholder proposals.

  • Honeywell International Inc. (NYSE: HON), May 19, 2023, Shareowner Proposal- Environmental and Health Impact Report, Item 6

  • Amazon.com, Inc (NASDAQ: AMZN), May 24, 2023, Shareholder Proposal Requesting Additional Reporting on Stakeholder Impacts, Item 10

  • Exxon Mobil Corporation (NYSE: XOM), May 31, 2023, Shareholder Proposal - Additional Report on Worst-Case Spill and Response Plans, Item 10