Organization: Valero Energy Corporation

Year: 2010

Description:

WHEREAS, companies face reputational risks if they are linked to destructive sourcing practices. Companies that take action to minimize the risk of deforestation and to support sustainable sourcing are likely to be seen as sector leaders, demonstrating a proactive and responsible approach to overall carbon mitigation, and

WHEREAS, it is estimated that the deforestation of temperate and tropical rainforests accounts for nearly 20% of the world’s greenhouse gas emissions. Loss of the ecosystem services provided by forests is estimated to be costing the global economy $2 – $5 trillion annually, and

WHEREAS, the Forest Disclosure Project, a recent initiative sponsored by the UK government and supported by investors representing over $1 trillion in assets, has called on global corporations to report on the impact of their operations on the world’s rainforest eco-systems,

THEREFORE, be it resolved that the company prepare a report to shareholders on the impact of its global operations on rainforest sustainability. This report should be prepared at reasonable cost and omit proprietary information.