Praxis Mutual Funds® participated in shareholder letters to Air Liquide, BMW, National Grid, Statoil and Spectra Energy, encouraging them to incorporate efficient use of energy, water and other natural resources, as well as elimination of wastes into their product and business development plans.
Led by Boston Common Asset Management, the initiative seeks to help companies reduce operational costs, mitigate climate change and supply chain risks, and more effectively achieve corporate sustainability goals through eco-efficiency.
The first round of customized letters contained questions based on each company’s disclosure of climate change management. The initiative’s immediate goal is to encourage companies to achieve rapid reductions of greenhouse gas emissions within their operations and supply chains. Ultimately, eco-efficient practices will advance the long-term transition to a more sustainable, low-carbon society and further the “circular economy,” in which wastes from one company can be resources for another.
The companies chosen for the initial phase of the initiative are concentrated in industries where energy efficiency or energy productivity will lead to the greatest immediate energy and cost savings. Dialogues with the companies will follow as these corporations respond.
This initiative may expand to companies in other industries well-positioned to integrate eco-efficiency measures into their internal operations or that can help customers reduce their greenhouse gas emissions.