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Thirty years ago, a huge oil tanker from Exxon Valdez had dumped nearly 11 million gallons of oil into the pristine strait of Prince William off the coast of Alaska, touching 1,300 miles of ribs. It was the worst oil spill in the history of the United States. Local ecosystems have been devastated, hundreds of thousands of birds and fish have been killed and the society has been the victim of more than half a billion dollars in debt.
Millions of liters of oil pollute the sound of Prince William as a result of the oil spill of Exxon Valdez.
Fair use
A year ago, Americans had heard a congressional testimony about the build-up of carbon dioxide and other industrial greenhouse gases that were gradually warming atmospheric temperatures and beginning to change the climate. In American cities, people complained about smog and air pollution that limited their visibility and hurt their lungs. Congress leaders responded by proposing amendments to strengthen one of the most important environmental laws to regulate air quality, the Clean Air Act.
The devastating news of the oil spill also touched a small group of investors who knew that there had to be a better way to do business. These investors, led by pioneer Joan Bavaria, began mobilizing as a coalition, bringing together other investors and environmentalists to re-evaluate the role and responsibility of businesses as environmental managers. and agents of economic and social change. The coalition, originally called the Coalition for Environmentally Friendly Economies, then became known as Ceres.
In just a few short months, these founding investors have worked with environmental groups to develop a groundbreaking business code called the Ceres Principles (originally called the Valdez Principles). Ceres then co-founded the Global Reporting Initiative (GRI), setting the standard for corporate sustainability reporting, which is now a common practice used by nearly 13,400 companies. In the space of a decade, environmental and social issues have been taken into account and treated as corporate financial imperatives, not just externalities. The new reporting frameworks highlighted risks and opportunities – providing the tools to not only measure corporate performance on environmental, social and governance (ESG) issues, but to act accordingly.
Over time, Ceres has built networks of investors and corporations, as well as non-profit organizations focused on improving corporate ESG disclosure and performance, by obtaining results that demonstrate performance. Higher ESG is directly related to financial performance. Today, one of these networks, the network of Ceres investors, at the forefront of changing organizational change with some of the most influential badet owners and badet managers in the global economy calling on the companies they own to manage their climate and water-related risks . Through initiatives such as Action for climate 100+, a global collaboration with our regional partner organizations, investors are aligning the largest greenhouse gas emitters with the goals of the Paris Agreement.
Investors also demonstrate leadership in sustainable investment decision-making and policy advocacy. More than 400 investors have taken measures in line with the investor program.. This program, developed with our global partners, highlights the actions of investors such as: investing in low carbon and zero carbon badets, phasing out investments in thermal coal, increasing financial information climate-related issues and strengthening of stricter climate policies, such as pricing. on carbon pollution.
As we celebrate the thirtieth anniversary of investors' innovative response to the Exxon oil spill and the Ceres Foundation, we need to take stock of our progress and progress on sustainable development. Investor action in sustainable development is no longer a secondary business. Investors working with Ceres have made real progress in modifying capital market systems and encouraging them to promote sustainability, including addressing climate risks such as those badociated with fossil fuels.
Yet much remains to be done to strengthen this strong foundation. In order to keep the global temperature rise to a maximum of 1.5 degrees Celsius, in accordance with the Paris Agreement, we must drive the transformation at a pace and scale never before achieved.
We must all recognize the power of our dollars that can be invested to accelerate the transition to a just and sustainable global economy, a guarantee of a sustainable planet for all of us. To move forward, we need investors to step up their efforts and join in a real effort on the part of all economic sectors, all governments and all segments of society.
Mindy Lubber is CEO and President of Ceres. Ceres is a non-profit organization dedicated to sustainable development, working with the world's most influential investors and businesses to create leadership and solutions across the economy.
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Thirty years ago, a huge oil tanker from Exxon Valdez had dumped nearly 11 million gallons of oil into the pristine strait of Prince William off the coast of Alaska, touching 1,300 miles of ribs. It was the worst oil spill in the history of the United States. Local ecosystems have been devastated, hundreds of thousands of birds and fish have been killed and the society has been the victim of more than half a billion dollars in debt.
Millions of liters of oil pollute the sound of Prince William as a result of the oil spill of Exxon Valdez.
Fair use
A year ago, Americans had heard a congressional testimony about the build-up of carbon dioxide and other industrial greenhouse gases that were gradually warming atmospheric temperatures and beginning to change the climate. In American cities, people complained about smog and air pollution that limited their visibility and hurt their lungs. Congress leaders responded by proposing amendments to strengthen one of the most important environmental laws to regulate air quality, the Clean Air Act.
The devastating news of the oil spill also touched a small group of investors who knew that there had to be a better way to do business. These investors, led by pioneer Joan Bavaria, began mobilizing as a coalition, bringing together other investors and environmentalists to re-evaluate the role and responsibility of businesses as environmental managers. and agents of economic and social change. The coalition, originally called the Coalition for Environmentally Friendly Economies, later became known as Ceres.
In just a few short months, these founding investors have worked with environmental groups to develop a groundbreaking business code called the Ceres Principles (originally called the Valdez Principles). Ceres then co-founded the Global Reporting Initiative (GRI), setting the standard for corporate sustainability reporting, which is now a common practice used by nearly 13,400 companies. In the space of a decade, environmental and social issues have been taken into account and treated as corporate financial imperatives, not just externalities. The new reporting frameworks highlighted risks and opportunities – providing the tools to not only measure corporate performance on environmental, social and governance (ESG) issues, but to act accordingly.
Over time, Ceres has built networks of investors and corporations, as well as non-profit organizations focused on improving corporate ESG disclosure and performance, by obtaining results that demonstrate performance. Higher ESG is directly related to financial performance. Today, one of these networks, the network of investors Ceres, is at the forefront of transformational business change. Some of the most influential badet owners and badet managers in the global economy are asking companies that they own to manage their climate and water related risks. . Through initiatives such as Climate Action 100+, a global collaboration with our regional partner organizations, investors are aligning the largest greenhouse gas companies with the goals of the Paris Agreement.
Investors also demonstrate leadership in sustainable investment decision-making and policy advocacy. More than 400 investors have taken measures in line with the investor program. This program, developed with our global partners, highlights the actions of investors such as: investing in low carbon and zero carbon badets, phasing out investments in thermal coal, increasing financial information climate change and strengthening of stricter climate policies on carbon pollution.
As we celebrate the thirtieth anniversary of investors' innovative response to the Exxon oil spill and the Ceres Foundation, we need to take stock of our progress and progress on sustainable development. Investor action in sustainable development is no longer a secondary activity. Investors working with Ceres have made real progress in modifying capital market systems and encouraging them to promote sustainability, including addressing climate risks such as those badociated with fossil fuels.
Yet much remains to be done to strengthen this strong foundation. In order to keep the global temperature rise to a maximum of 1.5 degrees Celsius, in accordance with the Paris Agreement, we must drive the transformation at a pace and scale never before achieved.
We must all recognize the power of our dollars that can be invested to accelerate the transition to a just and sustainable global economy, a guarantee of a sustainable planet for all of us. To move forward, we need investors to step up their efforts and join in a real effort on the part of all economic sectors, all governments and all segments of society.
Mindy Lubber is CEO and President of Ceres. Ceres is a non-profit organization dedicated to sustainable development, working with the world's most influential investors and businesses to create leadership and solutions across the economy.
