The mutual fund industry’s previously icy attitude toward climate change shareholder resolutions is beginning to thaw as Wall Street starts to recognize the financial risks and opportunities of global climate change, according to a new Ceres report announced today analyzing the voting records of 1,285 funds of 62 leading mutual fund firms. The report, evaluating 2004-2007 proxy votes, shows that historic opposition toward such resolutions is softening, with some fund firms such as Goldman Sachs supporting many climate resolutions outright, and others, such as Fidelity and Janus, abstaining on most or all resolutions after opposing them in the past. Opposition has dropped from three-quarters of fund votes to less than two out of three, while the number of abstention votes has more than doubled.

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