A couple of days ago I read an article in the New York Times about how there are "at least 66 resolutions relating to climate and environmental issues aimed at more than 40 oil, coal and electric power companies, have been filed in the 2011 proxy season." These resolutions have most likely been brought up because of the BP oil spill. The spill has spurred many reforms in the oil business with many new reforms to safety regulations. These regulations are helping to make these companies safer so another BP spill does not happen.
These moves by the shareholders are very influential in how oil companies run their businesses. "The resolutions for 2011 are new highs for such resolutions aimed at the energy sector, and a 50 percent increase over the number filed last year." This rise is meteoric because of the BP oil spill and it may slow down production, but they are necessary. I think this is a good move by the shareholders because obviously there needs to be action when catastrophes like the BP oil spill happen. This step by the shareholders is an example of how ethics are related to business. BP oil made a mistake and the shareholders made the ethical decision and made oil companies change so they could be safer even if it means slowing down production.
http://www.nytimes.com/2011/02/19/business/energy-environment/19proxy.html?ref=earth
I agree with the resolution 100%.
ReplyDeleteBusinesses need to take ethics and how their actions affect the environment, into consideration.