Investors Welcome New Pledges to Act on Climate from American Business Leaders

Jul 30th 2015

Corporate commitments to American Business Act on Climate pledge demonstrate authentic leadership and corporate responsibility.

NEW YORK, NY – Thursday, July 30th, 2015 – Today, members of the Interfaith Center on Corporate Responsibility, a shareholder coalition practicing socially responsible investing and shareholder advocacy, applaud this week’s launch of the American Business Act on Climate pledge.

The pledge calls for companies to:

  • voice public support for a strong outcome at the Paris climate negotiations this December;
  • demonstrate ongoing commitments to climate action and set an example for peers; and,
  • reduce GHG emissions beyond current commitments, commit to zero net deforestation and provide increased climate financing to make renewable energy more accessible, particularly for low-income Americans.

The 13 companies that have signed the pledge are Alcoa, Apple, Bank of America, Berkshire Hathaway Energy, Cargill, Coca-Cola, General Motors, Goldman Sachs, Google, Microsoft, PepsiCo, UPS, and Walmart. Read more about commitments by each company here.

As investors engaging these companies for decades on questions of climate change and sustainability, ICCR members were heartened to see this demonstration of genuine leadership on perhaps the most critical challenge facing our planet and its people.

Said Séamus Finn, ICCR’s board chair, “In our ongoing dialogues with these companies and many others, we are always asking them to implement programs to reduce carbon and water footprints and to help build the new green energy economy. The companies that have helped to launch this climate pledge have laid out their commitments quite specifically, raising the bar for their sector peers and, hopefully, helping to steer the private sector on a more sustainable course.”

As more companies come to recognize the long-term threats climate change represents to their assets and operations, more are willing to use their influence to press for a meaningful treaty in Paris. That these climate risks are already impacting vulnerable communities worldwide only increases the moral imperative for businesses to move quickly and powerfully to advance climate solutions.

Continued Finn, “We welcome this important initiative from the White House and again congratulate these 13 leaders for the courage they have demonstrated by signing onto this pledge. As long-term shareholders we recognize the value of this initiative in helping to secure the health of our investments and, as people of faith, we realize its potential to help secure the health of the planet and its people.”

To learn more about ICCR’s corporate engagements on climate change, read  Invested in Change: Faith Consistent Investing in a Climate-Challenged World.

About the Interfaith Center on Corporate Responsibility (ICCR)

Currently celebrating its 44th year, ICCR is the pioneer coalition of active shareholders who view the management of their investments as a catalyst for change. Its 300 member organizations with over $100 billion in AUM have an enduring record of corporate engagement that has demonstrated influence on policies promoting justice and sustainability in the world.