FOR IMMEDIATE RELEASE

MEDIA CONTACT: Stefanie Spear, sspear@asyousow.org, 216-387-1609

BERKELEY, CALIFORNIA—SEPT. 14, 2020—Today, the steering committee of Climate Action 100+ (CA100+), an initiative comprised of more than 450 global investors managing more than $40 trillion in assets under management, gave notice to high-emitting companies that they will soon be publicly evaluated on how they are (or are not) transitioning their business strategies and operations in alignment with the goals of the Paris Agreement and a net-zero emissions future. Evaluations are set to be made public in early 2021. 

As You Sow, a member of CA100+, has been working with companies to reduce climate risk and take advantage of opportunities presented by the transition to a clean energy market. As the impacts of climate change grow and negatively impact the global economy, shareholders seek clarity on whether their companies are adopting business plans aligned with a sustainable, net-zero carbon economy — or continuing business as usual on a path toward global value destruction. 

Companies like Exxon and Chevron that have denied shareholders the right to vote on resolutions to increase transparency on this issue are generating greater concern from shareholders, especially when measured against companies like BP and Shell, that are actively beginning to transition their enterprises toward net-zero goals. 

Danielle Fugere, president of As You Sow, made the following statement:

“The CA100+ Net Zero Benchmark provides a comprehensive view of which companies are leading and which are lagging in adapting to the reality of climate change. This new tool will help investors ensure that the companies they invest in are creating value into the future and affirmatively reducing global climate risk. Given the short window of time to transition successfully, every company, every industry, and every investor must take an active role in building the safe and economically sound future in which we want to live.” 

Lila Holzman, energy program manager of As You Sow, made the following statement:

“The CA100+ initiative has achieved great strides in mainstreaming the climate issue; and investor awareness of the material impacts of the climate crisis will only continue to increase. This tool will create a standardized means of assessing genuine company progress toward climate goals, helping investors see through the variety of current company claims about Paris Alignment and net-zero goals. We hope that by highlighting the widening differentiation across corporates, more companies will step up.”

For more information on As You Sow’s work on climate change, click here.

# # #

As You Sow is a nonprofit organization that promotes environmental and social corporate responsibility through shareholder advocacy, coalition building and innovative legal strategies. Click here to see As You Sow’s shareholder resolution tracker.