Oracle Corp is facing a shareholder proposal urging the company to report on how it is managing systemic climate risks within its retirement plan options. The proposal, submitted by the advocacy group As You Sow, is set to be voted on at Oracle's annual meeting on November 14, 2024. It highlights the potential financial risks to retirement savings from investments in high-carbon industries and industries contributing to deforestation. As You Sow's analysis suggests that Oracle's 401(k) Plan has significant exposure to such industries, which could lead to increased portfolio risk, particularly for younger employees with longer investment horizons. The proposal argues that Oracle's current investment strategy may not only harm beneficiaries but also affect the company's...Show More

Oracle Corp is facing a shareholder proposal urging the company to report on how it is managing systemic climate risks within its retirement plan options. The proposal, submitted by the advocacy group As You Sow, is set to be voted on at Oracle's annual meeting on November 14, 2024. It highlights the potential financial risks to retirement savings from investments in high-carbon industries and industries contributing to deforestation. As You Sow's analysis suggests that Oracle's 401(k) Plan has significant exposure to such industries, which could lead to increased portfolio risk, particularly for younger employees with longer investment horizons. The proposal argues that Oracle's current investment strategy may not only harm beneficiaries but also affect the company's ability to attract and retain talent, and potentially violate its fiduciary obligations. Oracle's Board of Directors has opposed the proposal, stating that it could unduly prioritize climate issues over financial interests of plan participants. However, the proposal emphasizes the financial risks associated with climate change and the need for Oracle to demonstrate active stewardship in managing these risks as part of its fiduciary duties.