Shareholder Resolutions at work with BSWM Clients
In 2016, a few of our clients were contacted by As You Sow, a leader in corporate engagements, to participate in a Shareholder Resolution with Devon Energy. Devon Energy is an oil and natural gas company that was held in some accounts that were not Fossil Fuel Free. As You Sow used these shares, owned by our clients, to get into Devon's Board Meetings and fight to remove oil and gas reserves from its executive compensation bonuses.
Just recently, Devon Energy finally agreed that it doesn’t make sense to reward executives just for buying new oil and gas reserves when facing a carbon-constrained future. The company will be restricting its entire executive compensation for 2019.
So score a big win for the power of shareholders to change the course of industry giants. This is but one way your assets can be used as a force for positive change.