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BP, Unilever and Volkswagen among firms facing investor challenge over climate change policy
(The Independent, 28 Oct 2018) They have been urged to consider their links to lobbying organisations that might not be complying with the Paris Agreement on climate change.
Some of the world’s biggest companies are being challenged over climate change by a group of influential investors which includes the Church of England Pensions Board.
Firms including BP, Rio Tinto and Volkswagen are facing calls to reconsider their ties to lobbying organisations whose climate change policies do not match up to the Paris Agreement targets.
Investors have written to 55 companies, asking them to “review the lobbying positions being adopted by the organisations of which you are a member”, particularly any groups that might oppose progressive climate change policies.
Unilever, Nestle and Rolls-Royce were also approached.
The 55 firms have been chosen due to their high greenhouse gas emissions and “significant role in energy-intensive sectors”, investors said. The decision to take action on “back-door” lobbying comes weeks after the UN’s Intergovernmental Panel on Climate Change (IPCC) warned that greenhouse gas emissions must be cut almost in half by 2030 to avert a global environmental catastrophe.
The Independent, 28 Oct 2018: BP, Unilever and Volkswagen among firms facing investor challenge over climate change policy
