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US: SRI investors target lobby group members over climate change

Date: 2 Jun 2011

Photo of vapour trails in the sky

A number of socially responsible investor groups have criticised companies that have a progressive position on climate change but which remain members of the Board of the National Association of Manufacturers (NAM). According to the group, NAM lobbies for measures to weaken EPA regulations to reduce greenhouse gas emissions.

The 23 investors have sent a letter to each of the companies, which includes the likes of 3M, Ford, GE and Procter & Gamble, and suggested that whilst the individual companies had set the right tone in their own approach to the environment, this approach was undermined by their membership of NAM which was seeking to achieve incompatible goals.

The letter continued that companies should support EPA regulation of greenhouse gas emissions because the rules are not overly costly, and an emphasis on energy efficiency would lead to cost savings and improve competitiveness.

Leading the investors group are Calvert Investment Management and Walden Asset Management.

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