A: Official report back May 2018
- Details
- Published on Sunday, 29 November -0001 16:00
- Written by editor
A -- I’ve just returned from a whirlwind of incredible shareholder meetings and petition deliveries, and wanted to make sure you saw just some of the incredible things you’ve made happen in the last month. So take a load off and check this out:
You’re holding Kinder Morgan’s feet to the fire.
You made history. At the Kinder Morgan annual shareholder meeting in Houston, Texas, over 50% of shareholders voted for a sustainability disclosure resolution you helped support -- even though senior management unanimously voted against it.
The resolution was presented by Chief Judy Wilson, Neskonlith, Secwepemc Nation. It was backed by billions of dollars of shareholder value -- and specifically mentioned the risks to business of Indigenous-led opposition to Kinder Morgan’s Trans Mountain... Pipeline project.
Ahead of the AGM, Norway’s $1.3-trillion Government Pension Fund and the $457-billion California Public Employees’ Retirement System backed the resolution, as did the largest proxy advisory firm on the planet.
Nearly 1,400 SumOfUs members like you emailed your pension and mutual fund managers and urged them to back this important proposal. And SumOfUs members used shares they own to help get Indigenous leaders inside the meeting.
Eugene Kung of West Coast Environmental Law said it best: “The doomed Trans Mountain Expansion Project is a perfect example of why investors should be paying close attention to the risk and uncertainty facing projects that do not have the consent of communities.”
In the coming weeks, we have a lot planned, including hard-hitting radio ads to pressure Liberal MPs in BC, critical emails to Canada Pension Plan Investment Board executives to not invest our retirement savings in this risky pipeline, and much more. Thank you for everything you’ve done so far.
Check out the photos from the AGM and watch our Facebook live.
You can also check out some of the press coverage from the AGM:
Kinder Morgan shareholders’ eco-resolutions pass in rare investor upset, StarMetro Vancouver, 9 May 2018.
Kinder Morgan shareholders demand environmental, legal audits for Trans Mountain pipeline, The Globe and Mail, May 9 2018.
Opponents of Kinder Morgan’s Canadian pipeline bring fight to Houston, Houston Chronicle, May 10 2018.
You’re demanding executive accountability from Loblaws.
At Loblaw's annual shareholder meeting, we presented a powerful shareholder proposal for greater accountability at the company by ensuring Galen Weston cannot be his own boss.
Given the recent bread price-fixing and tax-avoidance scandals at the company, our resolution, which we filed with support from the British Columbia Government and Service Employees Union, was endorsed by influential proxy advisory firm Glass Lewis, who manages more than $44 trillion in assets.
Ahead of the AGM, almost 800 SumOfUs members like you contacted over 130 pension and mutual fund managers to support the proposal -- and thanks to you, 30% of non-insider owned shares in the company voted for this important proposal, even though management unanimously voted against it! This is massive -- billions of dollars of shareholder value want to see greater accountability at the company -- and you helped make it happen.
Not only that, but we got to hand-deliver 14,000 signatures from SumOfUs members across Canada directly to CEO Galen Weston calling for greater accountability on the bread price-fixing scandal and invasion of privacy.
Check out some press coverage we received:
Now is the time for Loblaw to show who’s the boss, Toronto Star, May 1 2018.
30% Of Outside Loblaw Shareholders Vote In Favor Of Appointing An Independent Board Chair, Fraser Valley News, May 3 2018.
You’re kicking Nestlé out of Ontario for good.
With Ontario's election just weeks away, we showed up in Toronto with our partners at Wellington Water Watchers with a 115,000-strong message to top government officials: folks in Ontario don’t want Nestlé profiting off our precious water.
Because of the generous support of SumOfUs members like you, we filled a bus with community members impacted by Nestlé’s water-taking in Ontario, and made a huge splash outside the Ministry of Environment.
At the rally, the leader of the Green Party of Ontario became the first major party leader to commit to phasing out bottled water permits and to kicking Nestlé out of Ontario for good -- and now other candidates and parties are starting to follow suit! This is because of your pressure!
Check out this powerful video about our petition delivery -- and consider sharing it on Facebook!
And that's not all. Over 2,500 SumOfUs members in Ontario sent emails to their party leaders calling for strong commitments to phase out bottled water permits in their elections platforms. And it's working. In the last week, four candidates made commitments to protect our water, and party insiders tell us we can expect official announcements from both the NDP and the Liberals!
As the election campaign continues to unfold, we have lots more tricks up our sleeves to protect our water from corporate greed. Stay tuned!
Check out some of the press coverage we've generated so far:
Petition contre l'embouteillage de l'eau déposée au ministère de l'Environnement, CBC, May 14 2018.
Environmental groups call on Ontario candidates to put a cap on bottled water, National Observer, May 17 2018.
Bottled water is an election issue in Ontario, Rabble, May 13 2018.
If you've made it this far, thank you! None of these victories or important campaign developments would be possible without you, A.
We'll be in touch again soon with more exciting updates on our 100,000-strong petition in support of the motion to tackle the plastics crisis, next steps on protecting net neutrality in Canada, and more on our Kinder Morgan campaign.
Thanks for all that you do,
Emma, Amelia, Angus and the team at SumOfUs
SumOfUs is a community of people from around the world committed to curbing the growing power of corporations. We want to buy from, work for and invest in companies that respect the environment, treat their workers well and respect democracy. And we’re not afraid to stand up to them when they don’t.
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