In a watershed moment and a huge victory over environmentalists, General Electric has agreed to stop projects that are designed solely for the purpose of carbon dioxide reductions to please those who lobby for climate change concessions.
The National Center for Public Policy Research, a non-partisan, free-market, independent conservative think-tank which has been fighting GE for years because of GE’s liberal bias under CEO Jeffrey Immelt, scored a huge victory after receiving the commitment from General Electric.
Late in 2013, the National Center submitted a shareholder proposal as part of GE’s 2014 proxy statement and annual meeting materials. The proposal:
…request[ed] that the Board of Directors adopt a policy that General Electric not undertake any energy savings or sustainability project for the sole goal of seeking carbon dioxide emissions reductions due to climate change concerns, except as required by law … given the Company’s goal of reducing energy use (carbon dioxide emissions) and its admission that balancing this task with common business metrics is ‘difficult at best,’ shareholders are concerned that the Company may make some decisions in which the reduction of carbon dioxide emissions is a higher priority than maximizing financial returns.
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