Whereas...

Below is an excerpt of the model resolution I drafted today aimed at utilities. The idea is to get activist investors (Catholic nuns, Sierra Club, public pensions) to file this resolution at utility companies, so it will be voted on at next year’s annual general meetings.

"WHEREAS: The traditional utility business model is outdated due to increased demand from customers for clean power; increased competition from low-cost, distributed renewable energy suppliers; increased regulatory scrutiny of fossil fuel-related emissions; increased climate-related risk (drought, severe weather, rising sea levels); and increased vulnerability to cyber attack.

The utility sector is exacerbating these risks by lobbying to forestall the changes required to meet the goals of the Paris Agreement. The International Energy Agency estimates sector emissions must decline 90% by 2050 to align with the Paris goal of limiting average global warming to 2°C.

The availability of inexpensive oil and gas arising from the revolution in shale technology has increased utilities’ dependence on fossil fuels and slowed innovation in the renewable economy, leaving the U.S. at a long-term competitive disadvantage to China and Europe.

Long-term investors face growing risks of shareholder value destruction resulting from utilities’ failure to adapt to the material risks and opportunities arising from the transition currently underway."

It goes on a bit, but you get the idea.
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