Shareholders of Public Service Co. of New Mexico will speak at a rally outside the company’s annual meeting Tuesday morning in support of two resolutions that require PNM to consider its impact on climate and the economy of New Mexico communities.
The resolutions concern:
a request that the company report on how it will transition PNM's investments from climate-altering resources, and the portfolio impacts of policies to keep global warming under 2 degrees C; and
a requirement that PNM publish an assessment on generation assets that might become stranded and on the financial risks of those stranded assets.
International Shareholder Services, one of the top-rated governance-advisory firms, has recommended that shareholders vote YES on both resolutions. PNM’s portfolio is 91% fossil fuels and nuclear and only 2% solar and 7% wind. More than a dozen shareholders plan to attend the pro-renewable-energy rally before the meeting starts.
As PNM considers transitioning from coal-fired San Juan Generating Station and Four Corners Power Plant due to market forces, community and clean-air groups call on the utility to plan for community and worker transition, including clean-energy reinvestment in the Four Corners communities that have given so much to the energy industry.
What: Rally outside PNM annual meeting
Where: PNM headquarters, 414 Silver Ave. SW, Albuquerque
When: Tuesday, May 16. Rally starts at 8:45 a.m.; shareholders speak at 10 a.m., after meeting
Who: PNM shareholders; Navajo and pueblo members of communities impacted by PNM coal plants; PNM customers and New Mexicans
Visuals: Signs, drummers, shareholders and community members. Shareholder availability for interviews
Speakers: Lyla June Johnston — Prayer and MC
Rev. Karen Bash, New Mexico Interfaith Power and Light, opening prayer
Hakim Bellamy (SOL not coal poem)
Angele Kunkowski, song
Jen Marley, Santa Clara, Red Nation
Ehren Natay, Diné, drummer, singer (Kiwa Pueblo)
Javier Benavides, SouthWest Organizing Project
Vicki Regina, OLÉ New Mexico
JD Mathews, Working Family Party
Bianca Madrid, Earth Care
Cheyenne Antonio, Diné, Red Nation, CSVANW
Tom Solomon, 350 New Mexico, on 100% renewables
Mariel Nanasi, New Energy Economy
Rebecca Sobel, WildEarth Guardians, San Juan Mine/Just Transitions Four Corners
Rally co-hosts: Frack Off Greater Chaco, New Energy Economy, Sierra Club Rio Grande Chapter, 350.org New Mexico, New Mexico Interfaith Power and Light, WildEarth Guardians
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