Investors appeal to US Chamber to advocate stronger emissions policymaking
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The U.S. Chamber of Commerce is facing pressure from The Interfaith Center on Corporate Responsibility (ICCR) to advocate for public policies that would work to bring greenhouse gas (GHG) emissions in line with Paris Agreement goals.
ICCR, an investor coalition representing $131 billion in assets under management, sent a letter to the directors of the U.S. Chamber on Thursday, positioning its demands.
The investor coalition argued that strong support from the U.S. Chamber and the wider business community is critical to help stabilize climate, reduce severe weather impacts, and facilitate the transition to a more sustainable and resilient energy economy.
ICCR highlighted a disconnect “between the chamber’s public acknowledgment of the need for bi-partisan climate change policy, and its lobbying activities that are often seen as at odds with that goal.”
The Chamber was further criticized for its involvement for over two decades in lobbying campaigns aimed at thwarting legislative efforts to address surging GHG emissions and downplaying the impacts of climate change.
ICCR also noted that many of the companies represented by the U.S. Chamber’s board have made “commendable climate commitments” yet those commitments are being undercut by the trade association’s “anti-climate lobbying activities.”
Pressure is mounting on public boards to disclose how their public policy positions on climate change are determined and to what extent its board and members are consulted on public policy views prior to being finalized.