Recent Shareholder Resolution Approved

A shareholder resolution filed by the Pension Plan of The United Church of Canada, supported by the Shareholder Association for Research & Education (SHARE) with Ovintiv (new name of EnCana) was approved by 56% of shareholders.  The resolution is below and was opposed by management.  The vote came as a surprise as the resolution was not expected to pass.

That Encana Corporation (“Encana”) disclose climate-related targets that are aligned with the goal of the Paris Agreement to limit global average temperature increase to well below degrees Celsius relative to pre-industrial levels and pursue efforts to limit the increase to 1.5°C. These targets should address Encana’s key climate-related risks and opportunities over medium and long-term time horizons. Such targets should be quantitative, subject to regular review, and progress against such targets should be reported to shareholders on an annual basis.

Read the full press release on SHARE’s website.