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House Energy Bill Takes Small Steps for Energy Efficiency

In testimony before the House Energy and Commerce Committee the American Council for an Energy-Efficient Economy (ACEEE) said that while the recently introduced energy bill contains important energy efficiency provisions, it omits measures that could have a much larger impact. “As we stand poised for war in Iraq, it is astonishing that an American energy bill would do so little to save oil,” said ACEEE Executive Director Steven Nadel. “We applaud the Energy and Commerce Committee for retaining the appliance efficiency standards and other energy efficiency features from last year’s conference, but the larger issues of vehicle fuel economy and efficiency in the electricity sector are not seriously addressed.”ACEEE supports the energy efficiency provisions in the bill, including:* Title I on Energy Conservation – especially the sections on energy conservation standards for additional consumer and commercial products and on federal leadership in energy conservation;* Title VI on DOE Programs and the sections of Title V dealing with hydrogen vehicles and fuel; and* Title X on Automobile Efficiency, primarily because it improves on the 2001 legislation by not extending the dual-fuel credit for cars(thereby saving about 55 million barrels of oil annually).ACEEE estimates these provisions will reduce U.S. energy use by […]

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2003: Record Year for Shareholder Advocacy

As of February 1, 862 shareholder proposals have been filed with publicly traded U.S. companies, compared with just 802 in all of 2002! The 2003 proxy season is on track to be a record year for shareholder advocacy – in terms of the number of resolutions submitted, the number of resolutions likely to come to vote and, possibly, the level of shareholder support. Among the fastest-growing issue areas for resolutions include concerns about excessive CEO compensation, global warming, dividing the positions of CEO and chairman, and sexual orientation anti-bias policies. The report “2003 Shareholder Proxy Season Overview: Social and Corporate Governance Resolution Trends,” notes that corporate governance resolutions rose sharply to 625 by early February 2003, compared with 529 in all of 2002. At least 237 social and environmental resolutions were filed by mid-February, up slightly from the number at this point last year. Social Investment Forum President Timothy Smith said: “It is clear that 2003 will be remembered as the year when investors decided to stand up and be counted, using their voice and vote to call for strengthened corporate governance and solid corporate citizenship. Investors are moving from passive holders of stock to becoming active and responsible owners […]

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