Engagement history

Southern has been pressed to report estimates of their stranded assets in coal power in shareholder resolutions filed by the non-profit As You Sow in 2016, 2017 and 2020. The Sisters of St. Elizabeth and Sisters of Caldwell have both filed resolutions at Southern AGMs calling on the company to disclose its Paris-aligned business strategy. In 2019-2020 Ceres coordinated an engagement among CA100+ members, pressuring Southern towards a 2050 net-zero target. AP7 and Storebrand have both divested from Southern in protest against its political lobbying positions. Engagers have successfully pushed Southern towards a 2050 net-zero target, but the utility’s roadmap to decarbonisation is based on natural gas and hypothetical carbon capture technologies. Southern has somewhat moderated its public hostility to climate policy and exited the climate-denialist American Coalition for Clean Coal Electricity. But it retains its membership of several controversial groups tied to the American natural gas industry. Starkly, none of the company’s coal units have a Paris-aligned retirement date. Carbon Tracker’s 2020 analysis shows that 10% of Southern Company’s coal fleet may have a negative operating income today, and they anticipate that 19% could have a negative EBITDA by 2030.