Investors Pressure GM, Boeing, Deere, Xerox to Quit U.S. Chamber

October 14, 2009

Email this story Print this post Add your comments

Trying to ramp up pressure on the U.S. Chamber of Commerce and its position on climate change, an investors group has fired off letters to 14 major U.S. corporations, asking them to publicly distance themselves from the chamber’s positions.

Representing $16 billion in assets, the investors group is led by Walden Asset Management and Green Century Capital Management. The group also is asking the companies to clarify their positions to the National Association of Manufacturers (NAM), which has opposed government action on climate change.

The investors group chose the 14 companies based on previous statements from the firms that they support action on climate change, according to a press release.

The investors group, in the letters, asked the companies to address their disagreement with the chamber and NAM by any of three methods:

withdraw membership
publicly disclose their disagreement with the chamber and NAM’s positions
ask the chamber and NAM to refund the portion of dues used to lobby against climate change action.

The letters state that the company’s face serious business and reputational risks due to the “misalignment of positions.”

“While some companies, including (yours), have articulated a business rationale for a national policy that reduces greenhouse gas emissions, … membership in NAM/Chamber sends a starkly contradictory message,” the letters state.

The 14 companies targeted by the investors group are:

Air Products & Chemicals
Alcoa
American Electric Power
Boeing Co.
Caterpillar
Cummins
Deere & Co.
DTE Energy
Entergy
Ford Motor Co.
General Motors Corp.
Lockheed Martin
Whirlpool
Xerox Corp.

A total of 43 investment groups and investment-focused organizations signed the letters. Those groups include: As You Sow, Catholic Healthcare West, Mercy Investment Program, Portfolio 21 and Trillium Asset Management Corp., among others.

To date, Apple has been the highest profile defection from the chamber. Also in recent weeks, PG&E, PMN and Exelon, three utilities, announced their intention not to renew their chamber memberships.

Email this story Print this post Add your comments

Advertisers

Enhance Sustainability. Improve Profitability.

Learn how at the SAP Sustainability Resource Center. >>

Unclear about the EPA's new GHG Rule?

Learn how it could affect your business. >>

EPA mandatory emissions reporting starts Jan 1st

CSA Standards can help your organization get ready for compliance. Find out how. >>

Product Environmental Compliance Best Practices

How to achieve compliance at a significantly lower cost. Download the full report. >>

Join the Discussion

Reader Comments

Climate change issues include reducing plastic and energy use. Manufacturers use….Plastic….and energy…. For example, the plastic bag industry, like the plastic water bottle industry, will do anything possible to save themselves…like continue a membership with the Chamber!
Change is hard for everyone…

Iain | October 14th, 2009

I can’t wait to see the effect of the letters. If these companies leave the Chamber, it will almost guarantee passage of climate change legislation. http://bit.ly/1aXmJD How funny is it that the Chamber’s own actions will cause the new legislation that it is fighting so hard to stop?

Ted@ | October 14th, 2009

More enviro-fascist insanity.

Roark | October 15th, 2009

Recent Daily News [ see all ]

11/20/2009
11/19/2009
11/18/2009

Charts [ see all ]

European Paper Industry Cuts CO2 Emissions by 42% since 1990

S. America Takes Most Urgent View of Copenhagen Talks

Nike Tops Annual Climate Action Scores

Oceans May Trap more Carbon than Forests

Jobs

View All Jobs >> Post a Job >>

Comments and Discussions

Trade Association on Trade Group on EPA Chemical Regs: ‘If Everything is a Priority, Then Nothing is a Priority’
"Seriously… that..."

Gary Markowitz on Supermarkets Tackle Emissions Reductions, Fuel Efficiency
"Supermarkets waste over 10 percent of their energy through improper..."

peter in ireland on Ontario May Follow California’s Lead on TV Energy Efficiency
"Governor Schwarzenegger is shooting himself in the foot! 1...."

Environmental Leader on S. America Takes Most Urgent View of Copenhagen Talks
"The survey respondents (the PDF report mentions 4,000 respondents in 38..."

Jake on UPS Trying New Hydraulic Hybrid Trucks
"A point of clarification: the Reuters press release referenced herein reports that 20 UPS will purchase..."

Custom Organic Shirts on S. America Takes Most Urgent View of Copenhagen Talks
"90% of North Americans believe it is urgent to get a global climate..."

peter dublin on California City’s Green Building Ordinance Applies to Commercial Buildings
"Why energy efficiebnt regulation on buildings –..."

Environmental Leader