STRONG VOTES ON HYDRAULIC FRACTURING SEND CLEAR MESSAGE TO NATURAL GAS DRILLERS
Investors seeking more disclosure of corporate steps to reduce hazards
At all companies where the shareholder resolutions went to a vote, the proposals received 7 to 14 times the percentage of votes required by the Securities and Exchange Commission to refile the proposals next year. The highest vote was at Williams Companies Inc.* where 42 percent** of the shares voted supported the proposal.
“This impressive result is one of the highest on record for a first-year environmental proposal and sends a very clear message to all companies dependent on hydraulic fracturing that investors are concerned about the risks associated with the process and demand increased disclosure,” said Michael Passoff, Senior Program Director of the Corporate Responsibility Program at As You Sow.
Disclosure is NOT enough. Hydraulic fracturing should be regulated by the EPA under the SDWA and nothing less than full, public disclosure will do.