Explore EDF’s 2021 wins
exxon gas station

We hold the world’s biggest companies accountable for their role in climate change.

Photo credit: alamy.com

Investors deliver Exxon upset

Just 100 companies have extracted the oil, gas and coal responsible for more than 70% of the world’s greenhouse gas pollution. We are galvanizing investor pressure to compel some of the worst polluters to slash emissions from their operations and business models. And it’s working.

Last spring, a small, activist hedge fund named Engine No. 1 stunned the corporate world by winning three seats on Exxon Mobil Corporation’s board of directors. The vote was a clear signal to the oil and gas sector that investors want meaningful climate action. We supported Engine No. 1’s effort, emphasizing to major shareholders that for Exxon — and all the world’s biggest emitters — the global climate crisis is a business risk.

Climate risk is business risk: Flooding hampers the daily commute in Alexandria, VA.

“Investors are listening to EDF, which fills a critical gap by bringing the highest caliber expert insights and concrete actions to climate conversations.”

John Hoeppner head of U.S. Stewardship and Sustainable Investments at Legal & General Investment Management America

Soon after the board vote, EDF announced a partnership with Legal & General Investment Management America, the American arm of the world’s 11th largest investment management firm. Together we will use the power of investors to push major oil and gas and transportation companies to rapidly transition to net zero emissions.

“This is a watershed moment for the oil and gas industry and leading investors,” says EDF President Fred Krupp. “The message is clear: Climate change has become a board-level priority.”

What’s next?

The Securities and Exchange Commission is expected to release new rules requiring companies to declare meaningful information about the risk climate change poses to their bottom lines. EDF engagement with the SEC and testimony on Capitol Hill figured prominently in the push for these new rules, and we are continuing to work to ensure a strong final rule.

On the ground
When climate change becomes personal

Nicholas Zuba, an EDF Climate Corps alumnus, has spent his career helping homeowners and businesses fight for a cleaner, healthier environment: “After seeing lives changed forever by superstorm Sandy, I decided to dedicate my life to fighting climate change. This September, the fight became personal. I watched out my window as the remnants of Hurricane Ida deluged my community of Mamaroneck, New York. Six feet of floodwaters turned our main street into an extension of the Mamaroneck River. I was scared for my safety, grieving for my community and angry that we are still letting this happen. Ida took 52 lives in the Northeast. It brought home that climate change is everywhere and everyone is vulnerable.”

On the ground (Photo credit: gregkessler.com)

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