Investor letter on climate related lobbying to Australian extractives sector
Company led climate-related policy engagement and lobbying activity is a significant issue for investors.
IIGCC and our Australian counterparts IGCC, have supported publication of an open letter to the Editor on the need for the Australian extractives sector to a consistent and proactive approach in supporting Paris-aligned public policy. The letter has been signed by global investors representing over $11 trillion in assets.
Key points from the letter include:
- Calling on companies to do more to ensure their trade associations and industry bodies support policy aligned with the goals of the Paris Agreement.
- Highlighting that the funding of organisations undertaking lobbying in contradiction with companies’ own stated positions on climate change is a real concern that presents long-term risks to shareholder value and the businesses in question.
- Setting out specific expectations on company and trade body advocacy activity, including support for policy to deliver net zero emissions by 2050, among other key points.
The engagement by investors builds on existing work on the issue of climate related lobbying by IIGCC. This includes publication of investor expectations on corporate lobbying.