Chevron has ignored shareholder concerns about its liability for significant dumping of toxic oil waste in the Amazon region of Ecuador, dumping that has sickened tens of thousands of indigenous people and poisoned rivers and streams.
Newground placed two shareholder proposals on Chevron’s 2020 proxy that call for common-sense governance reforms designed to make the company more accountable and responsive to investor concerns – as a means of bringing its Ecuador issues to resolution, and preventing future human rights and Superfund-type liabilities around the globe.
Three prominent public figures – Alec Baldwin, Jody Williams, and Roger Waters – volunteered to speak for these proposals on behalf of Newground at this year’s virtual-only shareholder meeting, in the form of these pre-recorded messages:
Actor and Producer
Calling Chevron "the Harvey Weinstein of petroleum companies" Alec details why Chevron’s controversial RICO victory against human rights lawyer Steven Donziger does not protect it from liability.
Nobel Peace Laureate (1997)
Joins 28 other Nobel Laureates to call on Chevron to address its pollution in Ecuador, commenting on the stark variance between company actions and its Chevron Way code of conduct.
Musician, co-founder Pink Floyd
Visited the Ecuadorian Amazon in 2018, observed firsthand the Chevron-Texaco waste pits which leach deadly chemicals into the local drinking water, and calls on Chevron to "do the right thing."
Nobel Laureates Statement
29 Nobel Prize Laureates challenge Chevron's action against attorney who defends Ecuadorian pollution victims.
shareholder proposal #9
The Special Meeting proposal discusses the risk of Ecuadorian liability and the need for greater shareholder voice.
shareholder proposal #10
The Independent Chair proposal highlights how lack of independent oversight may be contributing to Ecuador crisis.
of presenters and issues for
the 2020 Chevron annual
With special thanks to:
for your consummate expertise
and for stepping up
when deadlines were close
What makes Newground different?
NPR-KUOW feature on Newground:
"Getting McDonald's to the Table"
A sophisticated ESG* approach that emphasizes shareholder engagement.
Nationally recognized for our unique brand of responsible impact investing, Newground appreciates and supports a client’s values – as expressed through selective ESG portfolio management, community investment, and shareholder engagement.
ESG Portfolio Management seeks companies with responsible environmental, social, and governance practices, while avoiding companies whose questionable practices create material portfolio risk.
Community Investment changes lives on the ground by providing necessary capital and banking services to people and communities who are routinely underserved, if not excluded.
Shareholder Engagement, which few advisors do, uses active shareholder ownership to call on companies to embrace transparency, equity, and inclusion – which transforms corporate behavior over time.
* ESG = Environmental, Social & Governance strategies