Ford Yields to Shareholder Pressure, Outlines Plan to Reduce GHG Emissions
Last month, the company shared its plans with investors that included religious and activist groups, such as the $100 billion-strong Interfaith Center on Corporate Responsibility and Ceres-directed Investor Network on Climate Risk, which represents assets of around $5 trillion. The Connecticut State Treasury also is a participating shareholder.
Ford is not the only automaker to find itself in the cross-hairs of activist shareholders. General Motors is also being urged to follow in Ford's footsteps; a resolution brought by the Dominicans of Caldwell could be voted on in June.
"The target is not even the win here; Ford has wrestled with carious analyses to arrive at reduction goals," said Sister Patricia Daly, representative of the Sisters of St. Dominic of Caldwell, N.J., a lead resolution filer. "No other company has entered into this discipline ... Even as a leader in the 'carbon club' Ford opens the door for other companies and industries to target reductions."
The target falls in line with recent auto mileage legislation put in place to improve fuel economy to 35 miles per gallon by 2020. The company said it would be unable to meet tougher limits for 2016 being sought by California.
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