FirstEnergy Corporation | Director votes - climate oversight at FirstEnergy Corporation

Status
Voted
AGM date
Previous AGM date
Proposal number
1
Resolution details
Company ticker
FE
Submitted by
-
Resolution ask
Strengthen board oversight of issue
ESG theme
  • Environment
ESG sub-theme
  • Lobbying / political engagement
Type of vote
Director vote
Filer type
Management
Company sector
Utilities
Company HQ country
United States
Supporting materials
Whereas clause
Majority Action is recommending investors vote against directors at FirstEnergy Corp due to the company’s FAILURE to:

· Include scope 3 greenhouse gas (GHG) emissions from power purchased for resale to customers, which accounted for 66% of FirstEnergy’s 2021 CO2 emissions, in net zero targets,
· Align its operating and planned coal-fueled generation capacity with a Below 2°C Scenario or a 1.5°C scenario, and
· Commit to ensuring its lobbying and that of its member trade associations are in accord with the Paris Agreement;


Vote AGAINST:

· Chair, Interim President and CEO, John W. Somerhalder, II,
· Lead Independent Director, Lisa Winston Hicks, and
· Corporate Governance, Corporate Responsibility and Political Oversight Committee Chair, Paul Kaleta.
Supporting statement
Majority Action is recommending investors vote against directors responsible for climate oversight, including board leadership, for failure to set adequate net zero targets reducing greenhouse gas emissions, fully realign investment plans to limit warming to 1.5°C, and/or ensure alignment of policy influence activities with 1.5°C pathways.

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