Boston, USA (By: ClimateBiz) – U.S. investors filed nearly twice as many shareholder resolutions with companies that will likely encounter business impacts from climate change.

There were 54 climate change-related resolutions filed in the 2008 proxy season that targeted companies in the electric power, oil, coal, aviation and construction businesses, according to Ceres, a coalition of investors, environmental groups and NGOs working with companies to address sustainability issues.

“Many U.S. companies are confronting the risks and opportunities from climate change, but others are not responding adequately – and they may be compromising their long-term competitiveness as a result,” said Ceres President Mindy S. Lubber. “Investors want all companies to understand the business impacts of climate change – and plan for it accordingly.”

The resolutions focused on companies that investors didn’t believe were adequately addressing climate change from impacts such as future regulations, physical changes or growing demand for low-carbon technologies.

ConocoPhilips, for instance, received two shareholder resolutions, one of which involved its plans to become the largest producer of oil from Canada’s tar sands. Trillium Asset Management asked the company to assess and disclose the potential environmental damage from the tar sands project, while a second resolution from the Presbyterian Church (USA) wants ConocoPhilips to adopt specific greenhouse gas (GHG) emissions reductions goals.

Three resolutions were filed with Exxon Mobil to develop GHG reduction targets, adopt a renewable energy R&D program and disclose how it will lead in developing technologies to create U.S. energy independence. Exxon Mobile has been largely unresponsive to climate change-related investors requests for the last decade, Ceres said.

Fourteen of the 54 resolutions have been withdrawn after companies agreed to disclose potential impacts.