Archive for April, 2011

Majority Vote at Ameren

April 28, 2011

The first majority vote of the season is in. Investors at Ameren cast 52.7 percent of their shares in support of a resolution that asked the company to report, “above and beyond current compliance, to identify and reduce environmental and health hazards associated with past and present handling of coal combustion waste, and how those efforts may reduce legal, reputational and other risks to the company’s finances and operations.” The company reported the resolution did not pass, since it counted abstentions in its voting calculation (figured that way, it was 46 percent). However it’s figured, it is clear that investors want the company to tell them more about how it plans to cope with regulations that are putting increasing restrictions on coal-burning–a major source of U.S. greenhouse gas emissions. Preliminary results from Energen, which received a proposal asking for a report on hydraulic fracturing, show that about half of the investors there also are not sanguine about fracking’s risks and want more information, as well.

Here’s Si2’s Action Report on Ameren for more on the company and its exposure to coal risks:2011 Si2 Action Report – Ameren – Natural Resource Management (Coal)