Bakal Presentation 12.05.08


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Bakal Presentation 12.05.08

  1. 1. Dan Bakal, Ceres Electricity Restructuring Roundtable December 5, 2008 National Priorities for Climate and Energy Policy
  2. 2. Ceres is… <ul><li>A coalition of 130-plus investors, environmental, and public interest groups. </li></ul><ul><li>A network of more than 80 companies representing diverse industries & businesses. </li></ul><ul><li>A leader in bringing companies together with their stakeholders in a constructive dialogue on sustainability issues. </li></ul><ul><li>Initiator of the Global Reporting Initiative (GRI), and the Investor Network on Climate Risk. </li></ul>
  3. 3. Selected coalition members
  4. 4. Selected Ceres companies
  5. 5. <ul><li>Growing five-fold since 2003, now 70 + members and over $6 trillion in assets </li></ul><ul><li>Acting on their fiduciary duty to manage risks and capture the opportunities (e.g. clean energy) </li></ul><ul><li>Climate change is a financial & corporate governance issue </li></ul>“ Climate change is a topic that should be on the agenda of every Board of Directors” (Goldman Sachs) The Investor Network on Climate Risk
  6. 6. <ul><li>Seek full disclosure </li></ul><ul><li>Evaluate companies </li></ul><ul><li>Vote relevant proxies </li></ul><ul><li>Engage in dialogue with companies </li></ul><ul><li>Promote best practices </li></ul><ul><li>Assess investment managers </li></ul><ul><li>Share information </li></ul><ul><li>Encourage SEC to require risk disclosure </li></ul><ul><li>Invest in low carbon, cleantech sector </li></ul>INCR Members Taking Action “ Shareowners need information to make informed investment decisions and assess costs associated with the impact to the environment.These risks may include operational, market, liabilities, policy, regulatory, and reputation risk.” -- Rob Feckner, President of CalPERS
  7. 7. <ul><li>65 investors and businesses worth </li></ul><ul><li>more than $4 trillion call for: </li></ul><ul><li>National climate policy reduce GHG emissions 60-90% below 1990 levels by 2050 </li></ul><ul><li>Realign energy and transportation policy to stimulate investment in clean technology </li></ul><ul><li>SEC guidance on climate disclosure </li></ul><ul><li>For a complete list of companies, see </li></ul>Investors/Businesses for Climate Policy Alcoa Allianz SE BP America Con Edison Dupont Green Mountain Coffee Roasters National Grid PG&E Sun Microsystems Turner Enterprises AFSCME CalPERS CalSTRS SEIU Master Trust Fund UNITE HERE Boston Common Asset Mgmt. Calvert Domini Social Investments Merrill Lynch California, Connecticut, Kentucky, Maine, Maryland, New Jersey, New York, North Carolina, Oregon, Vermont, Washington New York City
  8. 8. Sun Microsystems, Starbucks, Nike, Levi Strauss & Co., Timberland
  9. 9. BICEP Principles <ul><li>Set GHG targets to at least 25% below 1990 by 2020 and 80% below 1990 by 2050. </li></ul><ul><li>Establish an economy-wide GHG cap-and-trade that auctions 100% of allowances, promotes energy efficiency and accelerates clean energy technologies. </li></ul><ul><li>Establish aggressive energy efficiency policies to achieve at least a doubling of our historic rate of energy efficiency improvement. </li></ul><ul><li>Encourage clean transportation by promoting fuel-efficient vehicles, low-carbon fuels, and transit-oriented development. </li></ul>
  10. 10. BICEP Principles cont’d <ul><li>Increase investment in energy efficiency, renewables and carbon capture and storage technologies while eliminating subsidies for fossil-fuel industries. </li></ul><ul><li>Stimulate job growth through investment in climate-based solutions, especially “green-collar” jobs in low-income communities and others vulnerable to climate change’s economic impact. </li></ul><ul><li>Adopt a national renewable portfolio standard requiring 20% renewable energy by 2020, and 30 percent by 2030. </li></ul><ul><li>Limit construction of new coal-fired plants to those that have CCS, create incentives for CCS, and phase out existing coal-based power plants that do not have CCS by 2030. </li></ul>