Institution Theme Category Discussion Questions
  • Northern Trust
  • Environmental
  • Climate
What steps are taken to limit greenhouse gas production?
Company Year Market Source Link
Not disclosed - Technology and engineering company that provides services globally to industrial, commercial, and residential markets and has a market cap of over US $40 billion 2018 US 2019 Annual Report on Stewardship https://cdn.northerntrust.com/pws/nt/documents/fact-sheets/mutual-funds/institutional/annual-stewardship-report.pdf

In 2018, Northern Trust Asset Management engaged with a U.S. technology and engineering
company that provides services globally to industrial, commercial, and residential markets and has
a market cap of over US $40 billion. The focus of the engagement was the company’s approach to managing scope 1 and scope 2 GHG emissions. Under consideration was a precatory proposal, submitted by a coalition of shareholders, requesting that the company adopt quantitative GHG emissions reduction goals and report to shareholders on the company’s plan for achieving such goals. We determined the company had the necessary technical capacity to monitor and measure GHG emissions in its manufacturing operations and the company had the capability to improve management of its GHG emissions. We determined management lacked the commitment to pursue GHG emissions reductions.

Related Details

  • Category'
  • Shareholder Proposal
  • Resolution
  • Adopt quantitative GHG emissions reduction goals and report to shareholders on the company’s plan for achieving such goals
  • Vote
  • Against
  • Rationale
  • Lack of commitment to specific reduction targets
  • Details
  • Because management appeared to be unwilling to commit to specific reduction targets, Northern Trust Asset Management supported, against management’s recommendation, the shareholder resolution. The shareholder proposal received more than 40% support. Management subsequently agreed to adopt the shareholder’s request. In 2019, the company announced its commitment to reduce its global GHG emissions by 20% at over 200 manufacturing facilities worldwide by 2028.