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$2 trillion investors challenge 55 companies on climate lobbying
(EurActiv, 29 Oct 2018) Five weeks before a pivotal UN climate conference (COP24) starts, a group of investors, led by the Church of England Pensions Board and Swedish national pension fund AP7, sent a letter to 55 companies to challenge them on climate lobbying.
The investors have targeted these 55 European companies because of their high greenhouse gas emissions and significant role in energy-intensive sectors, the group explained in a statement released on Monday (29 October).
Each company has been asked to review relationships with key trade associations and lobbying organisations, to ensure alignment with their formal company positions supporting the implementation of the Paris climate agreement, it added, specifying that a set of ‘investor expectations’ outlining best practice on lobbying has also been sent to each company.
“We would ask you to review the lobbying positions being adopted by the organisations of which you are a member. If these lobbying positions are inconsistent with the goals of the Paris Agreement, we would encourage you to ensure they adopt positions which are in line with these goals,” the letter reads.
“More generally, we would ask you to ensure that your lobbying practices align with the ‘Investor Expectations’ document you have been sent, and that you are transparent about your own policy positions and how you ensure these are implemented in your direct and indirect lobbying activities,” it said.
Auto sector the worst
The 55 high-emitting companies have been assessed by InfluenceMap, a UK-based NGO that monitors lobbying activity by companies.
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