US SIF Statement on President Trump's Withdrawal from the Paris Climate Agreement
The exit of the United States from the Paris Agreement is unequivocally the wrong decision.June 1, 2017: US SIF: The Forum for Sustainable and Responsible Investment—the leading voice advancing sustainable, responsible and impact investing across all asset classes and representing 300+ members with more than $3 trillion in assets under management or advisement—released the following statement today in response to the Administration's decision to exit the Paris Climate Agreement.
Lisa Woll, CEO of US SIF said: "The exit of the United States from the Paris Agreement is unequivocally the wrong decision. It will harm the environment and damage the health and safety of the American people, our country's international reputation, and progress towards a vibrant, innovative and low carbon economy.
"The United States is already paying a high economic price from the ravages of severe drought, wildfires and storms associated with increased atmospheric levels of carbon. This is not the time to retreat from the call to protect current and succeeding generations from the significant implications of further, unrestrained climate change and rising sea levels.
"Rising concern about climate change is well documented among the largest institutional investors in our country. The US SIF Foundation's 2016 survey of sustainable and impact investment assets in the United States revealed that climate change was the most significant overall environmental factor in terms of assets. Money managers with $1.42 trillion in assets under management and institutional asset owners with $2.15 trillion in assets consider climate change risk in their investment analysis, more than three times the amounts affected in 2014. Moreover, shareholders concerned about climate risk filed 93 resolutions on the subject in 2016 and negotiated several commitments from target companies to disclose and reduce their greenhouse gas emissions.
"In addition to concerns about negative environmental implications, there is also widespread concern among business leaders and investors about political and economic risks that could result from the US exit from the Paris Agreement - risks to trade negotiations and to the international reputation and competitiveness of US companies doing business abroad. Many Fortune 500 companies have provided public support for the Paris Agreement since it was enacted, including 69 Fortune 500 companies, 33 Fortune 100 companies and 20 Fortune 50 companies."
About US SIF
US SIF: The Forum for Sustainable and Responsible Investment is the leading voice advancing sustainable, responsible and impact investing across all asset classes. Our mission is to rapidly shift investment practices towards sustainability, focusing on long-term investment and the generation of positive social and environmental impacts. US SIF members include investment management and advisory firms, mutual fund companies, research firms, financial planners and advisors, broker-dealers, community investing organizations, nonprofit associations, and pension funds, foundations and other asset owners. Learn more at www.ussif.org.