Via The Panelist, an interesting article on Ceres.org on shareholder resolutions about corporate greenhouse gas policies.
Update: I'm interested in how little interest y'all are showing in this.
What's your take? Is this approach at all feasible?
Can investor democracy work?
Is it even legally possible for a publicly traded company to behave ethically if its financial interests pull it toward unethical behavior? Isn't it considered the responsibility of the company to maximize shareholder return to the exclusion of all else?
Admittedly consumer pressure can influence consumer oriented companies, the more so if their market is educated and otherwise has good taste (e.g. Apple). The question is whether stockholder pressure can alter business behavior to the point where the business is actually negatively impacted.
Admittedly, BP and Exxon approach environmental matters differently. Corporate culture definitely matters. The question is whether stockholder culture matters, and whether it might matter sufficiently.