Avis Budget Shareholders Want Greenhouse Gas Reduction Plan

Avis Budget Group shareholders have asked the company to follow the example of Hertz and develop a greenhouse gas reduction plan for its rental car operations, according to SustainableBusiness.com. The shareholders want Avis to adopt Hertz’s commitment to report to investors on its plans for improving the fuel economy of its fleet.

The resolution, filed by the California State Teachers’ Retirement System (CalSTRS) and the Florida State Board of Administration, asks Avis Budget Group to adopt goals based on current and emerging technologies for reducing the company’s greenhouse gas emissions from its rental car operations and to provide a report on these goals to shareholders.

Jack Ehnes, CalSTRS chief executive officer, said companies may be at a disadvantage to their competition without sufficient inventory of highly efficient vehicles.

The resolution filed with Avis Budget is one of a record 68 global warming resolutions filed with 58 U.S. companies and four Canadian companies as part of the 2009 proxy season. An active fleet the size of Avis Budget Group’s emits more than a million tons of CO2 each year.

Avis Budget faces a shareholder vote on the matter at its June 12 annual meeting in Wilmington, Del.

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