Organization: Alphabet Inc.

Year: 2015

Whereas: Whereas: The Securities and Exchange Commission has recognized that climate change regulations, policy and legislation pose a business risk to companies. One risk is that federal, state and/or local government policies, adopted in whole or in part due to climate change concerns, that subsidize renewable energy and upon which company business plans rely may be repealed, augmented or altered. These changes in policy may be significant, and may come with little advance notice to the company. Resolved: Shareholders request that the Board of Directors authorize the preparation of a report, to be issued by December 2015, at a reasonable cost and excluding proprietary information, disclosing the business risk related to developments in federal, state or local government policies in the United States relating to climate change and/or renewable energy.

Resolved: Resolved: Shareholders request that the Board of Directors authorize the preparation of a report, to be issued by December 2015, at a reasonable cost and excluding proprietary information, disclosing the business risk related to developments in federal, state or local government policies in the United States relating to climate change and/or renewable energy.

Supporting Statement:Supporting Statement: Google relies on government actions to obtain certain financial advantages from climate change-related investments. Google might be materially affected by legislative and regulatory developments concerning climate change. For example, it has been reported that Google and other investors in the Ivanpah Solar Electric Generating System are seeking more than $500 million in taxpayer funds to help pay off a federal loan for the solar project. That project has already received $1.6 billion in government loans. Future political leaders may act differently concerning loans and grants for alternative energy projects. Subsidies and policies favorable to renewable energy are being challenged at the state and federal levels, where renewal of the approximately $12 billion wind production tax credit (PTC) has repeatedly been impossible to predict. Shareholders need reasonable transparency to evaluate the business risk associated with developments in political, legislative and regulatory landscape regarding climate change.