<html><head><meta http-equiv="Content-Type" content="text/html; charset=utf-8"></head><body style="word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><span style="background-color: rgb(255, 255, 255);" class=""><span class="Pc0Wt IH8C7b" jsname="lVVfob" style="orphans: 2; widows: 2; display: inline-block; overflow: hidden; vertical-align: bottom; max-width: 100%; text-overflow: ellipsis;"><i class="">Scientific American</i></span><span class="oM4Eqe" style="orphans: 2; widows: 2; white-space: nowrap;"><i class=""> </i><span class="d5kXP YBZVLb" jsname="U9s4xe" style="display: inline-block; overflow: hidden; vertical-align: bottom;">May 3, 2018</span></span></span><div class=""><a class="hzdq5d nuEeue ME7ew" target="_blank" href="https://www.scientificamerican.com/article/powerful-investors-push-big-companies-to-plan-for-climate-change/" jsname="NV4Anc" role="heading" aria-level="2" style="text-decoration: none; color: rgb(59, 120, 231); transition: color 0.2s ease-in-out; vertical-align: top; font-size: 18px; line-height: 24px; font-family: Roboto, RobotoDraft, Helvetica, Arial, sans-serif; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255);">Powerful Investors Push Big Companies to Plan for Climate Change</a><div class=""><span style="color: rgb(50, 50, 50); font-family: Georgia, serif; font-variant-ligatures: normal; orphans: 2; text-align: center; widows: 2; background-color: rgb(255, 255, 255);" class=""><font size="4" class="">This spring, Wall Street seems more accepting of climate science as shareholders demand plans to reduce risks</font></span><div class="iYiEmb a5SXAc" style="font-size: 12px; line-height: 20px; color: rgb(117, 117, 117); font-family: Roboto, RobotoDraft, Helvetica, Arial, sans-serif; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255);"><span class="oM4Eqe" style="-webkit-tap-highlight-color: transparent; white-space: nowrap;"><span class="d5kXP YBZVLb" jsname="U9s4xe" style="display: inline-block; overflow: hidden; vertical-align: bottom;"><a href="https://www.scientificamerican.com/article/powerful-investors-push-big-companies-to-plan-for-climate-change/" class="">https://www.scientificamerican.com/article/powerful-investors-push-big-companies-to-plan-for-climate-change/</a></span></span></div><div class="iYiEmb a5SXAc" style="font-size: 12px; line-height: 20px; color: rgb(117, 117, 117); font-family: Roboto, RobotoDraft, Helvetica, Arial, sans-serif; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255);"><span class="oM4Eqe" style="-webkit-tap-highlight-color: transparent; white-space: nowrap;"><br class=""></span></div><div class="iYiEmb a5SXAc" style="line-height: 20px; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255);"><span style="white-space: nowrap;" class="">Excerpts</span></div><div class="iYiEmb a5SXAc" style="line-height: 20px; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255);"><span style="white-space: nowrap;" class=""><br class=""></span></div><div class="iYiEmb a5SXAc" style="line-height: 20px; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255);"><span style="font-variant-ligatures: normal;" class="">“It’s now widely recognized that climate change is a legitimate risk.” Still, some observers caution corporate reports do not equal policy changes.</span></div><div class="iYiEmb a5SXAc" style="line-height: 20px; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255);"><span style="color: rgb(50, 50, 50); font-family: Georgia, serif; font-size: 18px;" class=""><br class=""></span></div><div class="iYiEmb a5SXAc" style="line-height: 20px; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255);"><span style="color: rgb(50, 50, 50);" class="">But continued shareholder pressure can lead to actual changes in how a company does business, Logan says. He points to British-Dutch oil-and-gas giant Shell. In recent years growing investor alarm about climate change risks have led the company to sell off carbon-heavy oil sands assets. Last year shareholders voted—and the company agreed—to tie 10 percent of executive bonuses to cutting greenhouse gas emissions.</span></div><div class="iYiEmb a5SXAc" style="line-height: 20px; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255);"><span style="font-variant-ligatures: normal;" class=""><p style="box-sizing: inherit; margin: 30px 0px 0px; padding: 0px; outline: 0px; border: 0px; vertical-align: baseline; color: rgb(50, 50, 50); font-variant-ligatures: normal;" class="">In the U.S., Logan says, investors are pushing for disclosures, for the most part, but that push still has an effect. The reports create competition within an industry, as companies vie with one another for investor dollars that go with the more aggressive climate-related plans. “Disclosure has real implications that these companies are going to have to follow through to actually mitigate risks,” Logan says.</p><div class=""><br class=""></div><div class=""><a href="https://www.scientificamerican.com/article/powerful-investors-push-big-companies-to-plan-for-climate-change/" style="font-size: 12px;" class="">https://www.scientificamerican.com/article/powerful-investors-push-big-companies-to-plan-for-climate-change/</a></div><div class=""><br class=""></div></span></div><div class="">
<div style="color: rgb(0, 0, 0); letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div style="color: rgb(0, 0, 0); letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div style="color: rgb(0, 0, 0); letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div style="color: rgb(0, 0, 0); letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div style="word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div style="color: rgb(0, 0, 0); font-family: Helvetica; font-size: 12px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px;">===============================================================================<br class=""><div style="font-size: 14px; font-family: Verdana;" class=""><div style="word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div style="word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div><span style="font-size: 12px;" class="">“ 'Friends,' said he, 'the taxes are indeed very heavy, and, if those laid on by the government were the only ones we had to pay, we might more easily discharge them; but we have many others, and much more grievous to some of us. We are taxed twice as much by our idleness, three times as much by our pride, and four times as </span><span style="font-size: 12px;" class="">much by our folly .... " </span></div><div><span style="font-size: 12px;" class=""><br class="">"Away then with your expensive follies, and you will not then have so much cause to complain of hard times, heavy taxes, and chargeable families .... " <br class=""><br class="">Benjamin Franklin, “The Way to Wealth” (1758). [The classic Franklin summary of his advice from Poor Richard's Almanac.] <br class=""><a href="http://www.swarthmore.edu/SocSci/bdorsey1/41docs/52-fra.html" class="">http://www.swarthmore.edu/SocSci/bdorsey1/41docs/52-fra.html</a></span></div></div></div></div></div></div></div></div></div></div>
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