Activist Nuns Convince Chevron to Track its Carbon Footprint

As it turned out, after years of resistance, all it took to get Chevron to track its carbon footprint was a threat from activist nuns. A group of faith-based investors, including the Sisters of St. Domenic, filed a resolution to force Chevron into being more environmentally responsible.

After the oil giant agreed to comply, the resolution was withdrawn. Chevron will now become the largest oil company to track its carbon footprint, something another competitor – ExxonMobil – has yet to do.

From GreenBiz.com, via Digg:

“As shareholders, we appreciate the difficulties that Chevron management faces in the long-term in confronting the task to reduce GHG emissions,” Sister Patricia Daly, executive director of the Tri-State Coalition for Responsible Investment and a member of the Interfaith Center on Corporate Responsibility (ICCR), said in a statement. “The recent advancements Chevron has made in reducing its carbon footprint and preparing the company for viability in a low-carbon business environment cannot be ignored.”

Daly made the announcement the day before San Ramon-based Chevron’s annual stockholders meeting, where reports suggest it may address concerns about a legal case in Ecuador that could lead to a multi-billion dollar judgment against the company. The case stems from alleged environmental violations committed by Texaco, which Chevron later acquired.

In the corporate world, money talks, and if your investors want you to do something you do it. It’s no surprise that money was the only reason Chevron agreed to pay any attention to their carbon footprint at all.

Link [GreenBiz.com] via [Digg]

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