The Interfaith Center on Corporate Responsibility (ICCR) has released a new report providing corporate guidance for companies struggling with increased investor expectations concerning their climate-related lobbying activity.
The study researched the disclosures of over 70 companies worldwide and looked for investor-friendly practices that drive company ambitions towards alignment with the Paris Agreement.
In the report, the ICCR argues that climate progress has long been hindered by aggressive lobbying by corporations and their trade associations. In an effort to combat this, the report outlines a series of investor-friendly disclosure practices.
This includes a recommendation that all lobbying and government affairs-related matters should be published together, with climate lobbying identified as a separate sub-section. It’s also stated that the use of independent third-party audits of the underlying information assessed, including the company’s and trade associations’ stances on various climate issues or bills, brings credibility to the data presented and helps defend against charges of greenwashing in lobbying disclosure.
Another suggested practice states that when a company has set a climate or GHG target of any kind, the company should describe its strategy for how its policy or lobbying aligns and supports those climate goals and commitments.
“We invite other investors and company leaders to rise to the urgency of this moment by advocating for ambitious and effective climate policies today,” the ICCR stated, arguing the issue demands concerted attention at a global level.