Tag Archives: Ceres

United States Carbon: Business Leaders Call to Action on U.S. Climate Policy by Signing Climate Declaration

Two weeks after President Obama announced plans to address climate change in a major speech, large American businesses are continuing to express their support for U.S. policy action on climate change. Eight more leading businesses, including several multi-billion dollar enterprises, have signed the Climate Declaration, which calls on U.S. policymakers to capture the American economic opportunity of addressing climate change.

The new signatories include leaders in the IT, healthcare, media, hospitality and consumer products sectors: Akamai Technologies, AMD, Dignity Health, K2 Sports, Participant Media, Saunders Hotel Group and The Weather Company. In addition, Mars, Incorporated, one of the nation’s largest private companies, recently endorsed the Climate Declaration when it joined CeresBICEP (Business for Innovative Climate and Energy Policy) network in June.

By signing the Climate Declaration, these business leaders join more than 600 other companies, including Starbucks, Nestle, adidas and Patagonia, in asserting, “Tackling climate change is one of America’s greatest economic opportunities of the 21st century … We cannot risk our kids’ futures on the false hope that the vast majority of scientists are wrong … There must be a coordinated effort to combat climate change—with America taking the lead here at home.”

“For us, climate change isn’t a political issue; it’s a scientific issue, and the science tells us we have to act,” said David Kenny, chairman and CEO of The Weather Company. “The Weather Company believes there is an economic opportunity as well as a moral obligation as a good corporate citizen in responding to climate change, and we will continue to inform our viewers and users about the science behind this important issue.”

“Responding to climate change is not only an imperative for the U.S. economy, but it is also an important issue of public health,” said Susan Vickers, RSM, vice president of community health at Dignity Health, the largest hospital system in California. “Reducing the harmful pollutants from power plants will improve air quality in our communities, which are already experiencing the destructive effects of pollution and the changing climate.”

“While there is no debating the scientific evidence of climate change, it is certain there is more debate ahead on the policies needed to combat its effects,” said Anne Kelly, director of BICEP. “The business community has been a strong supportive voice behind climate action, and you can see that reflected in this broad array of business leaders who have joined us in signing the Climate Declaration.”

Over the course of an ongoing campaign organized by Ceres and BICEP, other businesses, as well as individuals, are encouraged to sign the Declaration and join the call to action, along with other advocacy efforts. For more information about the Climate Declaration, please visit www.climatedeclaration.us.

About Ceres
Ceres is an advocate for sustainability leadership. Ceres mobilizes a powerful coalition of investors, companies and public interest groups to accelerate and expand the adoption of sustainable business practices and solutions to build a healthy global economy. Ceres also directs the Investor Network on Climate Risk (INCR), a network of 100 institutional investors with collective assets totaling more than $11 trillion. For more information, visit www.ceres.org.

About BICEP
BICEP (Business for Innovative Climate & Energy Policy) is an advocacy coalition of businesses committed to working with policy makers to pass meaningful energy and climate legislation enabling a rapid transition to a low-carbon, 21st century economy – an economy that will create new jobs and stimulate economic growth while stabilizing our planet’s fragile climate. BICEP is a project of Ceres. For more information, visit www.ceres.org/bicep.

To learn more about United States Carbon and our energy reduction technology that will help you become greener, cleaner, and more socially responsible please contact us at (855) 393-7555 or visit our website: www.unitedstatescarbon.com

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United States Carbon: US investors show climate clout

fracking drilling

American business and industry is coming under closer scrutiny from shareholders concerned to see how prepared companies are to respond to the financial pressures of a warming world.

Shareholders in the US are showing growing concern about their investments in companies exposed to climate change-related risks, according to new data released by Ceres, a US organization that promotes more sustainable business practices.

The annual round of corporate shareholder meetings – referred to in the US as the proxy season – has recently ended. Ceres says that at those meetings a total of 110 shareholder climate change and environmental sustainability-related resolutions were filed with 94 US-based companies: issues covered by the resolutions included concerns about hydraulic fracturing, flaring and both the environmental and financial risks of further exploitation of fossil fuel reserves.

Some of the US’s largest public pension funds were among those filing resolutions, including the California State Teachers’ Retirement System and the New York State and New York City Comptrollers’ Offices.  Ceres estimates that along with other large institutional investors these groups manage funds worth in excess of $500 bn in assets.

“The strength of this year’s proxy season shows unwavering investor concern about how companies, especially energy companies, are managing the profound climate-related risks of fossil fuel production, including traditional and unconventional oil and gas extraction,” says Mindy Lubber, president of Ceres.

“Investors saw especially important progress in tackling flaring, hydraulic fracturing and methane emission impacts, all key contributors to climate change.”

A resolution questioning the activities of Continental Resources, a large oil producer, was withdrawn after the company agreed to reduce or eliminate flaring at its well sites. Similar resolutions filed with three companies involved in the booming hydraulic fracturing industry – EOG Resources, Ultra Petroleum and Cabot Oil & Gas – were also withdrawn after managements agreed to increase disclosure of their activities, including steps being taken to reduce the environmental risks of “fracking”.

Mounting concern

“Companies are responding to the growing calls for transparency and accountability,” says the head of a major investment fund. “Without qualitative reporting, shareholders cannot be assured that a company is taking real steps to minimize these risks and protect shareholder value.”

According to Ceres data, the number of investor resolutions relating to climate change and environmental sustainability has increased significantly in recent years – from around 30 a decade ago to more than 100 last year.

While some companies are responding to investor concerns on climate change and the environment, others are more hesitant.

Shareholder resolutions asking two of the US’s biggest coal companies – CONSOL Energy and Alpha Natural Resources – to disclose how their extensive coal reserves might be affected by proposed new carbon regulations were defeated.

Recent analyses have indicated that if targets to limit the rise in global temperature are to be met, then vast amounts of proven fossil fuel reserves need to remain unexploited.

Such reserves can account for between 50 and 80% of the market value of coal, oil and gas companies: if regulations are brought in to support meeting targets on limiting global temperatures, those reserves could become “stranded” underground – having the knock-on effect of exposing companies and investors to significant financial risk.

To learn more about United States Carbon and our energy reduction technology that will help you become greener, cleaner, and more socially responsible please contact us at (855) 393-7555 or visit our website: www.unitedstatescarbon.com