Do you own Duke Energy stock? Know someone who does? Encourage them to vote against re-electing Lynn Good and Michael Browning to the Duke Energy board.
Help urge large shareholders to do the same before May 5 deadline. Details below.
Majority Action is working with large shareholders to call for removal of board directors of some of the companies most responsible for climate change. The list of 20 companies is headed by Duke Energy, Wells Fargo and ExxonMobil.
Majority Action filed this Exempt Solicitation with the Securities and Exchange Commission on why shareholders should vote to remove Lynn Good and Michael Browning from the Duke board for governance failure on climate change and racial equity. An exempt solicitation is the SEC term for a document to persuade shareholders to vote a certain way at shareholder meetings.
Majority Action also recommends voting FOR the shareholder proposals to:
- establish an independent board Chair to strengthen independent oversight of management (received support in 2020 from holders of 40.1% of shares voted)
- require enhanced political spending disclosure, particularly given failures to comprehensively disclose such spending in the aftermath of the January 6th Capitol Insurrection (received 38% support in 2020).
Along with the NAACP and Sierra Club, Majority Action also issued this press release.
Reach out to BlackRock and Vanguard, who are the big owners of Duke stock, and call on them to vote against Browning and Good (you can use the info in the press release or exempt solicitation above). Here are the folks to contact:
- Larry Fink, CEO of BlackRock: email@example.com
- Sandy Boss, Head of Investment Stewardship at BlackRock: firstname.lastname@example.org
- Tim Buckley, CEO of Vanguard: email@example.com, firstname.lastname@example.org
- John Galloway, Head of Investment Stewardship at Vanguard: email@example.com
Here’s more information on holding BlackRock and Vanguard accountable to their own pledges to prioritize climate action.
You can also reach out to NC State Treasurer Dale Folwell and urge him to vote the state pension fund’s shares against re-election of Good and Browning. Email firstname.lastname@example.org or call 919-814-4000.
Want to do more? See if your city, town or county pension fund owns Duke stock. Or the endowment of your college or university, or your local museum, foundation or other cultural institution. If they haven’t specifically divested from fossil fuels, it is likely that they hold Duke stock.
For a complete list of companies for which Majority Action filed exempt solicitations, go to the Majority Action Proxy Voting Guide.