Investors Release Agreement on Corporate Lobbying Standards

Major institutional investors unveiled a 14-point action plan to standardize assessments of corporate lobbying on climate change and increase pressure for action. The “Global Standard on Responsible Climate Lobbying,” targets the Paris Agreement goal of limiting warming to 1.5°C (2.7°F) above preindustrial levels by 2050 and was developed by the Swedish pension plan AP7, BNP Paribas Asset Management, and the Church of England Pensions Board. Investor networks with more than 3,800 signatories and more than $130 trillion under management have endorsed the plan, which would also track trade associations’ actions. Just 14% of the 375 companies tracked by InfluenceMap have aligned their lobbying and policy-engagement with the Paris Agreement. (Axios, Reuters; InfluenceMap: Wall Street Journal $)