United Parcel Service: Report on climate change ClearBridge is a top 10 owner. Shareholders submitted a precatory proposal asking that UPS report on its plans to reduce its total contribution to climate change and align its operations with the Paris Agreement’s goals. ClearBridge voted For this proposal, as additional disclosure would allow investors to better understand how the company is managing its transition to a low-carbon economy and climate-change-related risks. Shareholders requested that UPS issue a report, at reasonable cost and omitting proprietary information, describing if and how it plans to reduce its total contribution to climate change and align its operations with the Paris Agreement’s goal of maintaining global temperature increases at or below 1.5° Celsius.
ClearBridge Proxy Update: Adding Guidelines on Climate Change The ClearBridge Proxy Committee made several updates to the ClearBridge Proxy Voting Guidelines in 2021, including adding the following language to the policy: a. We vote for climate proposals seeking more disclosure on financial, physical or regulatory risks related to climate change and/or how the company measures and manages such risks b. We vote for climate proposals requesting a report/disclosure of goals on GHG emissions from company operations and/or products These updates helped guide our voting on climate-change-related shareholder proposals in 2021, such as to United Parcel Service.
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