Investors Support Green New Deal’s Call for Climate Action
FOR IMMEDIATE RELEASE
MEDIA CONTACT: Stefanie Spear, [email protected], 216-387-1609
OAKLAND, CA—April 11, 2019—Today, a group of more than 50 investors representing more than $60 billion in assets under management sent a letter to all 535 Members of Congress expressing support of the Green New Deal’s urgent call to action on climate change. The investor letter, led by shareholder advocacy group As You Sow, highlights growing concern that bold and comprehensive action, as described in the Green New Deal, is urgently needed to address the systemic issues driving climate change. Not only is action needed to avoid global climate harm, but also to fulfill the promise of the technological and business opportunities offered by a low-carbon economy.
“The Green New Deal has invigorated the climate discussion in the political arena and is inspiring action toward urgent solutions,” Andrew Behar, CEO of As You Sow, said. “With this letter, investors are showing strong support for bold federal action to accelerate the U.S. transition to a clean energy economy as we create jobs and rebuild failing infrastructure.”
Shareholders recognize that climate change poses a significant threat to the economy, to investor portfolios, and to society at large. Studies on the financial consequences of climate change increasingly demonstrate that the cost of inaction is staggering. Investors view the need for rapid decarbonization as critical and urge Congress to take action. A timely response will not only mitigate catastrophic climate impacts to people and the planet, but also position U.S. companies to lead and compete in a low-carbon global economy, ensuring a sustainable and orderly transition moving forward.
As You Sow and signatories are leading investors in calling on U.S. senators and representatives in the House to embrace science and rally the innovative force of the U.S. economy to address climate change.
“Investors see the momentum behind the Green New Deal as a strong signal,” Lila Holzman, energy program manager of As You Sow, stated. “By urging strong support for the core concepts in the Green New Deal, investors are calling for the level of ambition the U.S. needs to drive climate action at the pace and scale required to protect against unacceptable risks.”
For more information on As You Sow’s work on climate change, click here.
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As You Sow is a nonprofit organization that promotes environmental and social corporate responsibility through shareholder advocacy, coalition building, and innovative legal strategies. See our resolutions here.