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.