Ceres to testify before a U.S. House subcommittee

Ceres CEO and President Mindy Lubber has received a request from the chair of the House Judiciary Committee to testify before the Subcommittee on the Administrative State, Regulatory Reform, and Antitrust. Lubber will appear before the Subcommittee at 10:30 a.m. ET on Wednesday, June 12. View Lubber's full testimony here. 

Last year, the Committee issued a subpoena asking Ceres to produce documents because of its leadership role in Climate Action 100, the world’s largest global investor engagement initiative on climate change, and the Net Zero Asset Managers initiative. Since then, Ceres has delivered tens of thousands of documents to the Committee. The hearing is an expected outcome of the process. It is part of a larger political campaign from opponents of climate action who have launched legislative attacks to ban investors from considering climate-related financial risk in decision-making and have pressured investors to leave global initiatives that support them in addressing this risk. Most legislation at the state level has failed over legitimate concerns about the negative economic impacts if such proposals were implemented.  In addition, there has been steady pushback from investors, companies, and policymakers from both sides of the aisle. 

“Mitigating the financial risks of climate change is good for business and responsible risk management - and it is both legal and appropriate for investors to address these risks in their portfolios as part of their fiduciary duty to protect long-term shareholder value. Investor-led engagements with the highest emitting companies to encourage them to reduce greenhouse gas emissions in line with the goals of the Paris Agreement are consistent with building a strong, more resilient economy. Not only are investors actively working to address climate-related financial risks in their portfolios, but they are also taking advantage of the enormous business opportunities in the transition to a low-carbon future because it is in their best interest and the interest of their clients and beneficiaries.”

The hearing comes as 45 asset owners reaffirmed their commitment to engage with the world’s highest-emitting companies through Climate Action 100+, stating that addressing climate risk is a fiduciary imperative to protect their investments and provide security for their beneficiaries.  

Climate Action 100+ investors are independent fiduciaries, responsible for their individual investment and voting decisions. 

About Ceres 

Ceres is a nonprofit advocacy organization working to accelerate the transition to a cleaner, more just, and sustainable world. United under a shared vision, our powerful networks of investors and companies are proving sustainability is the bottom line—changing markets and sectors from the inside out. For more information, visit ceres.org.