Signs of accelerating global warming make it clear that controlling man-made GHG emissions must be a priority if we are to limit the most disastrous impacts of climate change. The longer we wait to control greenhouse gas (GHG) emissions, the more difficult and expensive our task will be.
ICCR's Climate Change group works to identify climate challenges and opportunities facing the private sector. Investors collaborate to develop strategies to reduce corporate carbon footprints and accelerate the transition to a green economy.
ICCR members seek to move companies in key industries to reduce their contributions to the greenhouse gas emissions that are responsible for climate change. We do this by pressing companies for a phasing out of fossil fuels, and a phasing in of low-carbon, renewable energy sources. We also engage the oil & gas sector on the need for transition planning for a 1.5 degree or less world. Current engagements focus on the following sectors/issues:
- A just transition to a clean energy economy
- Climate lobbying
- Methane emissions reduction
- Banks and climate finance
Featured ICCR Initiatives
Investor Expectations for a Just Transition: A “Just Transition” framework pairs necessary climate action with commitments to labor standards, human rights, and inclusive growth, and centers the workers and communities who contribute to and are affected by the transition. In early 2022, an ICCR-led coalition of investors representing over USS$4.2 trillion released a “Statement of Investor Expectations for Job Standards & Community Impacts in the Just Transition” which urges companies and investors to take 5 key steps: provide a foundation for decent work; offer equitable opportunities for quality jobs; invest in impacted communities; facilitate transparency and accountability; and support just transition policies at federal, state and local levels. Read the Investor Expectations statement here.
Pressing Top Banks & Insurers to Cut Emissions. Climate change continues to fuel increasingly severe global natural disasters, including floods, hurricanes, droughts, and wildfires. Financing by banks and insurance companies is helping to prolong the dominance of fossil fuels in our energy supply, which delays the transition to clean energy. While several major banks have begun to acknowledge their role in exacerbating climate risk, most major North American banks have failed to adopt adequate interim targets to meet their net zero by 2050 commitments. For the 2022 proxy season, investors filed a slate of nine proposals at top U.S. banks, and seven proposals with major insurance companies calling for greater accountability in climate lending. Read more here.
Featured Resources
ICCR’s report on “Leading Lobbying Practices to Drive 1.5°C Policy Action."
Corporate Climate Responsibility Monitor 2022. The Corporate Climate Responsibility Monitor assesses the climate strategies of 25 major global companies. It critically analyzes the extent to which they demonstrate corporate climate leadership.
Taking the Carbon Out of Credit. This new report from the Climate Safe Lending Network sets out an integrated mechanism, along with practical tools, for banking institutions that commit to demonstrating leadership in addressing climate change.
