General Motors is engaged in a titanic battle to rescue its public image, but it has suffered a set back of sorts as shareholder activists concerned about global warming have targeted the automaker for failing to do enough to curb greenhouse emissions.
The resolution comes at a sensitive time for GM since it is already facing rising pressure from California’s politically potent Congressional delegation on the global warming issue while it is seeking financial aid from the Obama administration. The Obama administration has promised the U.S. would adopt policies to slow climate change.
The Tri-State Coalition for Responsible Investment is specifically targeting GM. The pressure group noted that outside investors have a long, unsuccessful history of filing shareholder resolutions with GM and engaging the company on climate-related business strategies. A Tri-State shareholder resolution again asks General Motors to set green house gas reduction goals from its products and operations, as other U.S. and offshore based automakers have already done.