A dozen U.S. companies and dozens of institutional investors managing $4 trillion in assets have called on Washington to enact strong federal legislation to curb the pollution causing global climate change. The group outlined the business and economic rationale for climate action as they called for a national policy that reduces greenhouse gas emissions consistent with targets scientists say are needed to avoid the impacts of global warming.
The group, organized by Ceres and the Investor Network on Climate Risk, issued a Climate Call to Action at a press conference today in Washington DC. The 65 signers include institutional investors and asset managers such as Merrill Lynch, and the California Public Employees Retirement System, as well as corporations such as BP America, Allianz, PG&E, DuPont, Alcoa, Sun Microsystems and National Grid.
The companies and investors called for the following three actions:
• Leadership by the government to achieve sizable, sensible long-term reductions of greenhouse gas emissions in accordance with the 60-90 percent reductions below 1990 levels by 2050 that scientists and climate models suggest is needed. Wherever possible, the national policy should include mandatory market-based solutions, such as a cap-and-trade system, that establish an economy-wide carbon price, allow for flexibility and encourage innovation.
• A realignment of national energy and transportation policies to stimulate research, development and deployment of new and existing clean technologies at the scale necessary to achieve GHG reduction goals.
• The Securities and Exchange Commission to clarify what companies should disclose to investors on climate change in their regular financial reporting.
The 65 signatories are as follows:
• Alain J. Belda, Chairman and CEO, Alcoa, Inc.
• Dr. Joachim Faber, Allianz SE
• Robert Malone, Chairman and President, BP America
• Kevin Burke, Chairman, President and CEO, Consolidated Edison, Inc.
• Chad Holliday, Chairman and CEO, DuPont
• John W. Rowe, Chairman, President, and CEO, Exelon Corporation
• Robert P. Stiller, President and CEO, Green Mountain Coffee
• Christopher L. Dutton, President, CEO, Green Mountain Power
• Daniel T. Hendrix, CEO, Interface Inc.
• Cheryl LaFleur Acting U.S. CEO, National Grid
• Peter Darbee CEO, PG&E Corporation
• Jonathan Schwartz CEO, Sun Microsystems, Inc.
• Ted Turner, Turner Enterprises
Pension Funds, Labor, State Treasurers, State/City Comptrollers
• Gerald W. McEntee, President, American Federation of State, County and Municipal Employees
• Bill Lockyer, California State Treasurer
• Fred Buenrostro CEO, California Public Employees’ Retirement System
• Jack Ehnes, CEO, California State Teachers’ Retirement System
• John Chiang California State Controller
• Denise L. Nappier, Connecticut State Treasurer
• Jonathan Miller, Kentucky State Treasurer
• Sean Harrigan, President, Los Angeles Fire & Police Pension Commission
• David G. Lemoine, Maine State Treasurer
• Nancy K. Kopp, Maryland State Treasurer
• Ann Wagner, CEO, Municipal Employees Retirement System of Michigan
• Bradley I. Abelow, New Jersey State Treasurer
• Orin Kramer, Chair, New Jersey State Investment Council
• William C. Thompson, Jr., Comptroller of the City of New York
• Thomas P. DiNapoli, New York State Comptroller
• Richard Moore, North Carolina State Treasurer
• Randall Edwards, Oregon State Treasurer
• Steve Abrecht, Executive Director, SEIU Master Trust Fund
• Bruce Raynor, President, UNITE HERE
• Leo W. Gerard, International President, United Steelworkers of America
• Jeb Spaulding, Vermont State Treasurer
• Joseph A. Dear, Executive Director, Washington State Investment Board
Financial Service Firms, Asset Managers, Other Leaders in Investing
• Geeta Aiyer President, Boston Common Asset Management
• Barbara Krumsiek, CEO, Calvert
• Mike Johnston, Executive Vice President, The Capital Group Companies (organization listed for Identification purposes only)
• Jeff Skoll, Chairman and Stephen George CIO, Capricorn Management LLC
• Michael W. O’Hern, FSC President and CEO, Christian Brothers Investment Services, Inc.
• Amy L. Domini, Founder and CEO, Domini Social Investments LLC
• Alain Grisay, CEO, F&C Asset Management
• Peter S. Knight, President, Generation Investment Management
• Peter D. Kinder, President and Co-Founder, KLD Research & Analytics, Inc.
• Robert A. G. Monks, Founder, LENS Governance Advisors
• Gregory Fleming, President, Global Markets & Investment Banking, Merrill Lynch
• Joe Keefe, CEO, Pax World Funds
• Rev. William Somplatsky-Jarman, Presbyterian Church (U.S.A.)
• John P. M. Higgins, CEO, Ram Trust Services
• Patricia A. Daly, Sisters of St. Dominic of Caldwell, New Jersey
• Joan Bavaria President, Trillium Asset Management
• Tim Brennan, Treasurer, Unitarian Universalist Association
• Tim Smith, Senior Vice President, Walden Asset Management
• Jack Robinson, Founder and President, Winslow Management Co.
• Denis Hayes, President and CEO, Bullitt Foundation
• Pam Solo, President, Civil Society Institute
• Ruth G. Hennig, Executive Director, The John Merck Fund
• Lance E. Lindblom, President and CEO, Nathan Cummings Foundation
• Stephen Heintz, President, Rockefeller Brothers Fund
• Tim Little, Executive Director, Rose Foundation for Communities and the Environment
• Jeff Skoll, Chairman and Sally Osberg CEO, Skoll Foundation
• Edward Skloot, President, Surdna Foundation
• Melissa S. Dann Executive Director, Wallace Global Fund
• Wren Wirth, President, The Winslow Foundation
• V. Kann Rasmussen Foundation