Climategate

Goldman Sachs Ripped on Embrace of Global Warming

Submitted by Peter Flaherty on Thu, 05/06/2010 - 15:26

Goldman Sachs logoMy remarks at Goldman Sachs annual meeting today:

I regret that management opposes our resolution asking for a report on the science behind Goldman’s public positions on global warming. In 2005, Goldman Sachs established its “Environmental Policy Framework,” which stated:

“Goldman Sachs acknowledges the scientific consensus, led by the Intergovernmental Panel on Climate Change (IPCC), that climate change is a reality and that human activities are largely responsible for increasing concentrations of greenhouse gases in the earth’s atmosphere.”

PepsiCo’s Lobbying for Cap and Trade Hit at Annual Meeting

Submitted by Peter Flaherty on Tue, 05/04/2010 - 23:38

Nooyi photoNLPC is the sponsor of a shareholder proposal that asks PepsiCo to report on its lobbying priorities. Here are my remarks today at the PepsiCo annual meeting in Plano, Texas:

I regret that PepsiCo opposes this resolution asking for a report on the company’s lobbying priorities. I would think that management would welcome the opportunity to explain its priorities.

PepsiCo is a member of the U.S. Climate Action Partnership a coalition of corporations and environmental groups. USCAP’s mission is to “quickly enact strong national legislation to require significant reductions in greenhouse gas emissions.” The House of Representatives has obliged in the form of the Waxman-Markey bill. According to the Heritage Foundation, this bill would destroy over 1.1 million jobs, hike electricity rates 90 percent, and reduce the U.S. gross domestic product by nearly $10 trillion over the next 25 years.

Goldman Sachs Challenged on Global Warming in Wake of ‘Climategate’

Submitted by Peter Flaherty on Mon, 12/07/2009 - 23:20

Goldman Sachs logoNLPC has filed a shareholder proposal asking Goldman Sachs to report on the science behind its embrace of global warming in the wake of the ‘Climategate’ scandal.

Goldman’s ‘climate policy’ is more than corporate public relations. In 2007, Goldman participated in the buyout of energy firm TXU. The transaction resulted in the cancelation of 8 of 11 planned coal-fired power plants after pressure from environmental activists.

It might make wealthy financiers in New York City feel good about themselves to scotch electric generation in the name of environmentalism, but it has negative consequences for ordinary people. Electricity is a basic need, like food and medical care. Cancelling plants while parts of the country face regular power shortages, and raising the cost of electricity for consumers, is positively immoral.

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