US SIF's CEO Lisa Woll Responds to the U.S. EPA's Repeal of the Clean Power Plan
This is not the time to retreat from action to protect current and succeeding generations from the catastrophic implications of further, unrestrained climate change.WASHINGTON, D.C., October 10, 2017 – Today, the U.S. Environmental Protection Agency (EPA) announced it is repealing the Clean Power Plan. On behalf of US SIF: The Forum for Sustainable and Responsible Investment, the leading voice advancing sustainable, responsible and impact investing and representing 300 members with more than $3 trillion in assets under management or advisement, Lisa Woll, CEO released the following statement.
“Today's decision is reckless and will harm the US economy and every American for years to come. This is not the time to retreat from action to protect current and succeeding generations from the catastrophic implications of further, unrestrained climate change.
"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.
"There is widespread concern among business leaders and investors about the political and economic risks of today's decision. The decision compounds the damage wrought by the US exit from the Paris Agreement and will further will harm the reputation and competitiveness of US companies doing business here and abroad."
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 toward 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. The US SIF 8th US SIF Annual Conference will take place from May 30-June 1, 2018 in Washington, DC.
US SIF is supported in its work by the US SIF Foundation, a 501(C)(3) organization that undertakes educational, research and programmatic activities to advance the mission of US SIF, including offering trainings for advisors and other financial professionals on the Fundamentals of Sustainable and Impact Investment. Learn more at www.ussif.org.