Summary by Futu AI
Alphabet Inc, the parent company of Google, is facing a shareholder proposal urging the company to report on how it is managing climate risks within its retirement plan investments. The proposal, led by the advocacy group As You Sow, is set to be voted on at Alphabet's annual meeting on June 7, 2024. It highlights the potential financial risks posed by climate change to the savings of retirement plan beneficiaries, particularly those with longer investment horizons. The Google LLC 401(k) Savings Plan, which holds a significant portion of its assets in high-carbon industries, is at the center of this concern. As You Sow's analysis suggests that the plan's investments in such industries could lead to reduced future portfolio...Show More