US - The California State Teachers' Retirement System (CalSTRS) has put forward its first shareholder proposal since 2004, to pressure natural gas pipeline company ONEOK to report on its greenhouse gas emissions.
The US$165bn fund owns more than 1,940,000 shares and is asking the other 105,000 ONEOK shareholders to support its call for reporting on the feasibility of setting goals for reducing greenhouse gas emissions.
Jack Ehnes, CEO, CalSTRS, said: "As a shareholder, we believe it is in our mutual interests for ONEOK to take the necessary first step in addressing the issue of greenhouse gas emissions."
"The business risks from climate change are very real and are confronting us today, so taking this step is vital, because protecting the environment means protecting the bottom line," Ehnes concluded.
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Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point