Ethos, the members of the Ethos Engagement Pool International and more than 30 other institutional investors, which collectively manage over USD 1,000 billion, are part of an engagement initiative coordinated by the NGO ShareAction in the UK, which calls on multinational companies around the world to drastically reduce their environmental impact and thus preserve the long term value of their assets under management.
As part of this ‘Investor Decarbonization Initiative’, letters were sent to the CEOs of 15 companies on April 17, 2018. Among the companies targeted several operate in energy-intensive sectors such as power generation and cement production. Investors are calling on companies to set greenhouse gas reduction targets in line with the requirements of the Paris Agreement, thus contributing to limit global warming to a maximum of 2° above pre-industrial levels. To this end, three concrete measures for effective greenhouse gas reduction by companies are proposed:
- Sourcing of 100% renewable electricity (RE100)
- Doubling energy productivity (EP100)
- Promoting of electric vehicles uptake (EV100)