Company: BRK-A
Filing Date: 2025-03-25
Form Type: PX14A6G
Source: 0001214659-25-004756
Chunk: 10

Company: BERKSHIRE HATHAWAY INC
Filing Date: 2025-03-25
Form: PX14A6G
Chunk 10
---
 to high carbon energy investments
offer investors a different means of understanding Berkshire’s relative contribution to climate change and climate risk. Shareholders
require transparency around if and how Berkshire is creating long-term value and mitigating climate risk
through its investments.

Berkshire states, “A clean energy financing ratio is primarily targeted at bank financing activities, examining transactions underwritten by banks for the energy sector.”

A clean energy financing ratio is equally relevant
to Berkshire given the Company’s extensive energy investments and financing activities, in particular, its estimated $20.9 billion
in fossil-fuel related assets. Information on insurers’ investments in and allocation of capital to fossil fuels and clean energy
is just as relevant as banks’ investments. Failure to disclose such a ratio, particularly in the absence of any other disclosures
around financed or insured emissions, results in a lack of transparency for shareholders.

_____________________________

https://www.metlife.com/sustainability/resource-center/commitments/net-zero-commitment/

https://www.metlife.com/sustainability/resource-center/sustainability-faqs/

https://sustainability.travelers.com/iw-documents/sustainability/Travelers_TCFDReport2023.pdf,
p.34

https://ewcstatic.thehartford.com/thehartford/the_hartford/files/Comm/sustainability-highlight-report.pdf,
p.12

https://www.jpmorgan.com/content/dam/jpm/cib/complex/content/investment-banking/carbon-compass/JPMC_ESFR_Methodology.pdf

https://about.bnef.com/blog/the-magic-number-is-4-to-1-as-banks-warm-to-clean-energy-finance-ratio/

https://sustainability.travelers.com/iw-documents/sustainability/Travelers_TCFDReport2023.pdf,
p.17

| 7 |

| 2025                                                 
 Proxy Memo                                           
 Berkshire                                            
 Hathaway Inc | Disclose Clean Energy Financing Ratio |

Berkshire states, “Berkshire’s Board believes it would be imprudent to disclose such a ratio due to, among other reasons, the lack of any standardized calculation methodology.”

BloombergNEF provides a standardized calculation methodology that,
by its terms, states that the “intended audience for this document includes, ” banks.
This methodology is distinct from its Clean Energy Exposure Ratings (CEERs) and Fossil-Fuel Exposure Ratings (FFERs) which assess the
proportion of a company’s revenue derived from clean energy activities.

CONCLUSION

Insurance companies moving toward net zero targets and actively