Praxis applauds Southern Company commitment to net-zero carbon future
Investor engagement effort results in new goals
Praxis Mutual Funds® applauds Southern Company’s recent commitment to carbon neutrality. This commitment follows years of shareholder engagement, during which Praxis joined other institutional investors and organizations, such as Ceres, a leading sustainability nonprofit, in calling on Southern Company to commit to carbon reduction goals.
Led by Praxis Manager of Stewardship Investing Advocacy and Research Chris Meyer, Praxis participated in a joint statement issued on Southern Company’s decision with Ceres, several large pension funds and other well-known impact-related funds. Said Praxis:
“We applaud Southern Company for its commitment to net-zero carbon emissions by 2050. Setting such a goal and developing an implementation plan are necessary parts of the transition to a low-carbon economy. As a long-term investor in many companies, we appreciate the opportunity to engage with companies like Southern on critical issues like climate change that will increase in importance over time.”
Ceres played a central role in coordinating shareholder engagement with Southern Company by organizing dialogue through Climate Action 100+, an investor-led initiative to ensure the world’s largest greenhouse gas emitters take necessary action on climate change.
Southern Company becomes the latest U.S. electric utility to commit to net-zero carbon emissions by 2050 — a critical step forward in ensuring long-term sustainability in the face of systemic environmental threats. With this announcement, Southern Company joins an expanding group of U.S. electric utilities committed to net-zero carbon emissions by 2050, including Xcel, Duke, Dominion, NRG, CMS, DTE, and APS.
Said Chris Meyer, “Environmental sustainability is one of Praxis’ core investing values and reducing carbon emissions is a critical step forward in confronting climate risks. As we look to transition to a net-zero emissions economy, the U.S. power sector has a crucial role to play. Southern Company's commitment is an important milestone for the company and the industry. Praxis is pleased to have worked alongside a community of investors to contribute to this positive development, which demonstrates the power of shareholder advocacy.”