PRI’s new guidance for engagement on corporate climate denial and lobbying:

nvestors are increasingly scrutinising corporate engagement on climate policy as it plays a critical role in helping governments create practical climate policy solutions. However, corporate engagement on climate policy is a double-edged sword. 

Negative and resistant corporate interest, often represented by third-party organisations, can hinder policy action that aims to mitigate the impacts of climate change. This can cause a number of issues for investors including legal and reputational risks, and long-term portfolio volatility.

In response to this, the PRI launched a collaborative engagement and an investor expectations statement in 2015, focusing on the direct and indirect policy engagement practices of companies on climate issues. The aim of the engagement was to:

understand how companies communicate their own policy positions on climate;
understand how companies monitor the associated policy positions of their third-party organisations;
understand what actions are taken when the positions of these third-party organisations do not align with the company’s climate change policies and positions; and
communicate investor expectations outlined in the statement.

via Converging on climate lobbying: aligning corporate practice with investor expectations | Reports/Guides | PRI