London, June 1, 2017: The Global Sustainable Investment Alliance (GSIA), the collaboration of leading national sustainable investment bodies from Europe, the US, the UK, the Netherlands, and Australasia, has expressed strong disappointment in the US Government’s decision to withdraw from the Paris Climate Change Agreement.
The GSIA—representing $12 trillion of assets managed, banked, or advised globally—has condemned the decision, which comes at a critical moment when global capital is moving to play its part in financing the transition toward a low-carbon economy.
The GSIA urges the Administration to reconsider the decision and join with the other 195 nations who are committed to tackling climate change through the Paris Agreement.
Simon Howard, CEO of the UK Sustainable Investment and Finance Association, the Secretariat of the GSIA, said:
“Our memberships are united in condemning this action by the US Government. Climate change is the gravest threat to mankind’s future, and the Paris Agreement is the best hope for global mitigation. By withdrawing from the Paris Agreement, President Trump will slow progress, but will not stop it. Our members will continue to address climate change and other climate-related issues through the investment process and through actions with other key stakeholders. Such actions were exemplified on Wednesday when investors forced through a motion on climate change at ExxonMobil, getting 62% of the vote.”
Commenting on the news, Lisa Woll, CEO of US SIF, The Forum for Sustainable and Responsible Investment, and the SIF most immediately affected, said:
“The exit of the United States from the Paris Agreement is unequivocally the wrong decision and may lead to catastrophic harm to the environment, our country’s international reputation, and progress toward a vibrant, innovative, and low-carbon economy.
Our research in 2016 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 under management.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.
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.We urge the Administration to reconsider its decision, which is certain to damage the US economy, the health and safety of the American people, and America’s standing in the world.”
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Contact:
- Simon Howard, Secretary GSIA and CEO of UKSiF: +44 207 749 9950, +44 74532 82693
- For US SIF, contact Lowe Group: Katherine Murray, 1 (414) 376-7240, ussif@lowecom.com
Notes to Editors:
The Global Sustainable Investment Alliance (GSIA) is a collaboration of membership-based sustainable investment organizations around the world. The GSIA’s mission is to deepen the impact and visibility of sustainable investment organizations at the global level. Our vision is a world where sustainable investment is integrated into financial systems and the investment chain.
In aggregate, our members manage, bank, or advise on assets worth $12 trillion.
The current members of the GSIA are:
- Responsible Investment Association Australasia
- The UK Sustainable Investment and Finance Association
- US SIF – The Forum for Sustainable and Responsible Investment
- Eurosif
- VBDO – The Dutch Association of Investors for Sustainable Development
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About the speakers
London, June 1, 2017: The Global Sustainable Investment Alliance (GSIA), the collaboration of leading national sustainable investment bodies from Europe, the US, the UK, the Netherlands, and Australasia, has expressed strong disappointment in the US Government’s decision to withdraw from the Paris Climate Change Agreement.
The GSIA—representing $12 trillion of assets managed, banked, or advised globally—has condemned the decision, which comes at a critical moment when global capital is moving to play its part in financing the transition toward a low-carbon economy.
The GSIA urges the Administration to reconsider the decision and join with the other 195 nations who are committed to tackling climate change through the Paris Agreement.
Simon Howard, CEO of the UK Sustainable Investment and Finance Association, the Secretariat of the GSIA, said:
“Our memberships are united in condemning this action by the US Government. Climate change is the gravest threat to mankind’s future, and the Paris Agreement is the best hope for global mitigation. By withdrawing from the Paris Agreement, President Trump will slow progress, but will not stop it. Our members will continue to address climate change and other climate-related issues through the investment process and through actions with other key stakeholders. Such actions were exemplified on Wednesday when investors forced through a motion on climate change at ExxonMobil, getting 62% of the vote.”
Commenting on the news, Lisa Woll, CEO of US SIF, The Forum for Sustainable and Responsible Investment, and the SIF most immediately affected, said:
“The exit of the United States from the Paris Agreement is unequivocally the wrong decision and may lead to catastrophic harm to the environment, our country’s international reputation, and progress toward a vibrant, innovative, and low-carbon economy.
Our research in 2016 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 under management.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.
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.We urge the Administration to reconsider its decision, which is certain to damage the US economy, the health and safety of the American people, and America’s standing in the world.”
---ENDS---
Contact:
- Simon Howard, Secretary GSIA and CEO of UKSiF: +44 207 749 9950, +44 74532 82693
- For US SIF, contact Lowe Group: Katherine Murray, 1 (414) 376-7240, ussif@lowecom.com
Notes to Editors:
The Global Sustainable Investment Alliance (GSIA) is a collaboration of membership-based sustainable investment organizations around the world. The GSIA’s mission is to deepen the impact and visibility of sustainable investment organizations at the global level. Our vision is a world where sustainable investment is integrated into financial systems and the investment chain.
In aggregate, our members manage, bank, or advise on assets worth $12 trillion.
The current members of the GSIA are:
- Responsible Investment Association Australasia
- The UK Sustainable Investment and Finance Association
- US SIF – The Forum for Sustainable and Responsible Investment
- Eurosif
- VBDO – The Dutch Association of Investors for Sustainable Development
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