Summary by Moomoo AI
Berkshire Hathaway Inc. is facing a shareholder proposal urging a 'Yes' vote on a resolution for the company to report on its plans to measure, disclose, and reduce greenhouse gas (GHG) emissions in alignment with the Paris Agreement's 1.5°C goal. The proposal, submitted by As You Sow, highlights the financial and environmental risks posed by climate change, citing a record $108 billion in insured natural catastrophe losses in 2023 and predicting a doubling of such losses within the next decade. Despite these risks and two years of significant shareholder support for climate action, Berkshire Hathaway has not disclosed Scope 3 emissions nor set reduction targets, lagging behind industry peers who are adopting net zero emissions goals and increasing transparency. The annual meeting is set for May 4, 2024, where investors will vote on the resolution. As You Sow emphasizes the importance of this vote, pointing out Berkshire Hathaway's substantial investments in fossil fuels and the lack of a clear plan to address climate-related risks in its insurance and investment activities.