Investors across the country, representing health, faith, the environment, and clean energy came together to collectively call for Ameren and Kansas City Power and Light to protect shareholders by being more responsible with its energy generation and diversifying its energy portfolio. The coalition of investor advocates filed an unprecedented 5 resolutions with Ameren Missouri and Kansas City Power and Light concerning their over-reliance on harmful fossil fuels and lack of clean energy investment.
After the results of the elections many have suggested that there will be a recovery in the fossil fuel industry, however most economic factors remain the same. Cleaner energy investment continues to be the safest investment for stable shareholder profits and the filed resolutions address these concerns and others. Speakers representing the various institutions and organizations involved participated in a telepress conference to provide background on the resolutions and answer questions from press and analysts.
Ed Smith of Missouri Coalition for the Environment said, “Nuclear utilities around the country, like Ameren, need to be transparent with shareholders now that high-level radioactive waste could possibly be stored at nuclear reactor sites, like Callaway 1, for hundreds of years beyond the useful life of the plant. Security guards, storage system operators, new and replacement parts could be required for the safe storage of spent fuel for hundreds of years or more at Callaway 1.”
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Philip Fracica of Renew Missouri said, “Renew Missouri’s supporters will be filing a proposal requesting KCPL to analyze the profit potential of renewable energy generation ranging from 25%-100% by the year 2040. We filed this proposal as there are many cases of private corporations transitioning from operating with fossil fuel generation to renewable generation. Many corporations have and are currently making commitments to operate with renewable energy. Additionally, there is a growing shareholder movement to divest from investments in companies that generate or consume fossil fuel based energy. Our concerns are that KCPL will not be adequately prepared to meet private sector demand for renewable energy generation and will lead to job creators opening up new offices in other Midwest states that do allow for compliance with their internal renewable mandates.”
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John Hickey, Chapter Director of Missouri Sierra Club said, “The Missouri Sierra Club filed a resolution with Ameren Missouri urging them to prepare a report on how the company could reach 100% clean energy by 2050. While Ameren is the largest utility in the state, it is lagging further behind the other Missouri utilities in the transition to clean energy. With less than 1 percent of Ameren Missouri’s electricity coming from clean energy sources and increasing consumer demand for clean energy, it is vital for the health of the company, investor portfolios, as well as the public health of our community that Ameren begin investing more heavily in wind and solar for electric generation.”
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A shareholders resolution is a non-binding proposal or recommendation to the board of a company written on behalf of a shareholder. Investors owning over $2000 in Ameren or KCPL stock are able to file resolutions. These resolutions are regulated by the SEC and typically deal with issues of corporate social responsibility and governance and are voted on by other shareholders at or in advance of their annual meeting.
