Religious Shareholders Force Disclosure by GE That Company Spent Tens of Millions To Delay Clean-Up of Hudson River, Other PCB Site Discharges
Shareholders Declare Victory in Getting Company to Disclose Information; Even Though Proxy Struggle is Over for Now, Shareholders Still Urging GE to Clean PCB Pollution Immediately.
Tri-State CRI Press Release
In the successful conclusion of a 10-year shareholder initiative, the Tri-State Coalition For Responsible Investment (Tri-CRI) announced today that it has been victorious in pressuring General Electric to reveal the $800 million the company spent from 1990-2005 during the period of time it sought to delay cleaning up toxic polychlorinated biphenyl (PCB) discharges at three sites: a 200-mile stretch of the Hudson River (the largest Superfund site in the U.S.); the Housatonic River in Pittsfield, MA.; and a former transformer facility in Rome, Georgia. In response to the long-overdue disclosure, the religious shareholders announced that they are withdrawing their 2006 GE shareholder resolution, which likely would have seen a repeat of the 27.4 percent support level religious shareholders achieved at the company’s 2005 annual meeting.