Responsible Climate Lobbying | Interfaith Center on Corporate Responsibility

<div class=”col-lg-9 content-page left-side”>
<section class=”section-a-single-resolutions resolutions-info top-content”>
<div class=”resolutions-contain”>
<div class=”top-content”>
<h4>Resolution Details</h4>
</div>
<div class=”bottom-content”>
<div class=”row-info”>
<strong>Company:</strong>
<p>Linde Plc </p>
</div>
<div class=”row-info”>
<strong>Year:</strong>
<p>2025 </p>
</div>
<div class=”row-info”>
<strong>Issue Area:</strong>
<p>Lobbying & Political Contributions </p>
</div>

<div class=”row-info”>
<strong>Focus Area:</strong>
<p>Climate Lobbying </p>
</div>
<div class=”row-info”>
<strong>Status:</strong>
<p>Filed</p>
</div>

</a>
</div>
</div>
</div>
</section>

<section class=”section-b-single-resolutions content-blocks”>
<div class=”top-content editor-block”>
<div class=”content-block”>
<div class=”main-content”>
<h2>Resolution Text</h2>
<p class=”p1″><strong>WHEREAS: </strong>The United Nations Framework Convention on Climate Change asserts that greenhouse gas emissions must decline by 43% from 2019 levels by 2030 and 65 percent by 2035 to avert the worst impacts of climate change, including more frequent and severe droughts, heatwaves, and rainfall.1</p>
<p class=”p3″>Linde (“Company”) acknowledges that promulgated regulations to reduce or mitigate the adverse effects of greenhouse gas (“GHG) emissions would represent a significant cost for Linde and that losses could arise from the physical effects of climate change.2 In response, the Company publicly committed to science-based 2035 GHG reduction targets and a 2050 climate neutrality ambition for its operational emissions.3 Linde has committed to conduct its engagement activities in line with the goals of the Paris Agreement and recognized that strong policy support is required to achieve its climate goals. However, the Company’s disclosure of its lobbying activities is uneven, making it challenging for investors to evaluate whether and how Linde’s advocacy efforts are consistent with its commitment. For example, in its 2024 CDP questionnaire, Linde provides some details of its indirect engagements on policy, however, the Company has not disclosed annual dues paid to each organization that it is a member of, does not distinguish how actual trade association lobbying activities align or misalign with Linde’s climate neutrality ambition, and has not disclosed an assessment of its membership in the American Fuel and Petroleum Manufacturers Association which has negatively engaged on climate.4</p>
<p class=”p5″>Inconsistencies in corporate lobbying between a company’s climate commitments can contribute to delays in emissions reductions which can harm shareholder value through increased physical risks to assets, abrupt policy changes, limited access to capital and insurance, and escalating health costs.5</p>
<p class=”p6″>Linde has spent <strong>$8.8 </strong>million on federal lobbying since 2014.6 This does not include state lobbying, where Linde also lobbies but disclosure is uneven or absent. The Company’s disclosure is limited to a sentence referencing its two largest public policy advocacy issues. In contrast, Honeywell, a key Linde competitor, has published a climate lobbying report7 with an assessment of Honeywell’s lobbying activities.</p>
<p class=”p1″><strong>RESOLVED: </strong>Shareholders of Linde request that the Board of Directors prepare a report, updated annually, describing whether and how Linde is aligning its lobbying activities, both direct and indirect (through trade associations, coalitions, and other organizations), with its climate neutral by 2050 goal.</p>
<p class=”p3″>Such disclosure, prepared at a reasonable cost and excluding proprietary information, could include the activities and positions analyzed, the criteria used to assess alignment, and external stakeholders consulted, if any.</p>
<p class=”p5″><strong>SUPPORTING STATEMENT: </strong>In evaluating the degree of alignment between the Company’s emissions goals and its lobbying, the proponent recommends that the Company assess policy influence activities, such as comment submissions, regarding climate provisions of legislation and regulation.</p>
<p class=”p7″>This request is generally consistent with the investor expectations described in the Global Standard on Responsible Climate Lobbying8, which is a useful resource for implementation.</p>
<p class=”p1″>1 https://unfccc.int/news/new-un-climate-change-report-shows-national-climate-plans-fall-miles-short-of-what-s needed</p>
<p class=”p2″>2 https://www.sec.gov/ix?doc=/Archives/edgar/data/l707925/000 l 62828024007424/lin-20231231.htm</p>
<p class=”p3″>3 https://assets.linde.com/-/media/globaVcorporate/corporate/documents/sustainable-development/linde-climate transition-plan-july-2023.pdf</p>
<p class=”p4″>4 https://lobbymap.org/intluencer/American-Fuel-Petrochemical-Manufacturers</p>
<p class=”p5″>cacc95lea59addfcc713fbb359e2680c</p>
<p class=”p4″>5 https://health2016.globalchange.gov/</p>
<p class=”p3″>6  https://www.opensecrets.org/orgs/linde-plc/summary?id=D000071865</p>
<p class=”p6″>7  https://investor.honeywel l.com/static-files/8fcf82b8-9576-4cd0-a555-a75883618t7 I</p>
<p class=”p1″>8 https://climate-lobbying.com/</p>

</div>
</div>
</div>
<div class=”middle-content editor-block”>
<div class=”content-block”>
<div class=”main-content”>

</div>
</div>
</div>

</section>
</div>
<aside class=”col-xl-3 right-side”>
<div class=”column-contain”>

<h3>Lead Filer</h3>
<div class=”views-row”>
<div class=”views-field views-field-nothing”><span class=”field-content”> John Chevedden</span></div><div class=”views-field views-field-title views-field-field-shareholder”><span class=”field-content”>Chevedden Corporate Governance</span></div>
</div>

</div>

</div>
</div>

</div>
</div>
</aside&gt