ValueAct's Ubben Pushing AES to be Green(er)

A pile of coal, credit: wikimedia commons

ValueAct announced their stake in power producer AES in January 2018. Along with the equity holdings the Jeffrey Ubben will take a board seat and serve on the board’s finance and compensation committees. Ubben has made environmental, social and governance issues a priority for the long-term focused activist fund. AES’s power production still uses a lot of coal, 37%. Its going to be a long process to get green given the firm’s goal is to get to 33% by 2020. If it takes 2 years to shave off 4% then maybe they can get clean by 2035. ValueAct may be a long-term investor but AES should expect a little pressure to speed things up.


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