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Laxman Pai, Opalesque Asia: Investors with a collective $6.5 trillion in assets reminded U.S. companies with the highest greenhouse gas (GHG) emissions to disclose their lobbying activities related to climate change - and to prepare for more shareholder pressure.
Investors Group has issued "urgent" demands to 47 of the largest US-based corporate GHG emitters to disclose their climate lobbying practices align with the most ambitious goals of the Paris Agreement and science-based climate policies.
In a series of letters sent to Climate Action 100 Plus' list of the top greenhouse gas emitters in the U.S., a steering committee of the investor group also reminded the companies that beginning in 2021, their progress will be measured against a new emissions benchmark, the Climate Action 100 Plus Net-Zero Company Benchmark.
The investors also asked companies to establish strong governance of their climate lobbying activities and provide full public transparency of those activities. The letters advised companies of best practices for corporate climate lobbying provided in resources, including the Ceres Blueprint for Responsible Policy Engagement on Climate Change.
The Blueprint highlights that the latest science indicates that limiting global temperature rise to 1.5-degrees Celsius is necessary in order to avoid the most catastrophic outcomes, including climate-driven drought, floods, extreme heat, and poverty for millions of people.
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