Shareholders Urge Dominion to Report on Limiting Greenhouse Gas Emissions

Power for the People VA reported on May 14, 2017, that during Dominion Resources’ annual shareholder meeting on May 12, 2017, “some 48 percent of Dominion shares that were voted supported the resolution of a major shareholder, the New York State Common Retirement fund, calling on the company’s board of directors to report on how the company will deal in coming years with the fact that the world needs to reduce greenhouse-gas emissions to an extent consistent with limiting global warming to 2 degrees Celsius.” Dominion did its best to bury the information (as it always does its best to bury information on how far it lags behind in anything addressing renewable energy or reduction of emissions) by only announcing during the meeting that the four shareholder resolutions on the ballot failed to get a majority of votes. But the vote should be a major jolt to Dominion since “the total value of the nearly 198 million shares voting for the resolution was $15.5 billion, based on Dominion’s May 9 closing stock price,” and since shareholder resolutions rarely gather any significant number of votes, particularly when Dominion’s board always recommends a “no” vote on any environment- or climate-related resolution.

Power to the People VA author Seth Heald, who holds Dominion stock and was therefore able to attend the meeting, also describes the blackout curtains Dominion had installed on the glass walkway from the parking lot and in front of the building’s lobby windows. Dominion really didn’t want shareholders to see the demonstrators lining the sidewalks outside!