16 May 2015
In the framework of the Global Anti-Chevron Day, which will be held on May 21st, and Chevron's Annual General Meeting of shareholders, which takes place on May 25th, UDAPT has prepared two letters addressed to specific groups of Chevron investors who are generally responsive to environmental topics: pension funds and religious groups. With these letters UDAPT asks investors to consider the responsibilities of the corporation and exercise their shareholder rights in order to demand Chevron compensation for the environmental crimes committed around the world and in Ecuador in particular. The letters focus also on the ethical concerns of investing in Chevron and, specifically, on the importance of supporting the shareholder resolution on special meetings (Item 12 of Chevron Proxy Statement 2016), which raises the issue of the firm's obligation to repair the crime committed in Ecuador.
These two letters are linked below, along with the text of the aforementioned Item 12 and an annex presenting background information on the case, its recent developments, and the risks that the investment in Chevron can cause.
The Union of Affected People by Chevron-Texaco (UDAPT) represents the interests of 30,000 Indigenous persons and other residents of Ecuadorean rainforest region who have suffered the consequences of decades of unremediated toxic contamination from Chevron's oil operations in Ecuador.