Trending...
- Dennis Mukeera and Bridget Namubiru Release New Urban Fantasy Novel: Borrowed Destiny
- The Dancing Caravan comes to ArtsWestchester's Gallery
- Franklin Resources, Inc. (BEN) Investigation: Bronstein, Gewirtz and Grossman, LLC Encourages Shareholders to Seek Compensation for Alleged Wrongdoings
NEW YORK - Nyenta -- On Tuesday, July 30, Congressman Jim Jordan (R) of Ohio Chairman of the House Judiciary Committee, and Congressman Thomas Massie (R) of Kentucky, Chair of the Subcommittee on the Administrative State, Regulatory Reform, and Antitrust, sent a letter (https://ucfunds.org/wp-content/uploads/2024/08/...) to United Church Funds (UCF) and over 130 other institutional asset owners and managers requesting information on their responsible investing strategies as they relate to climate goals.
In the letter, Rep. Jordan warned that collective pledges to drive down greenhouse gas emissions could be in violation of federal antitrust laws.
The letter followed a recent hearing by the Committee in which several Republican members focused on Climate Action 100+ (https://www.climateaction100.org/), an investor-led initiative of which UCF is a member, as evidence of unlawful collusion among responsible institutional investors.
In a written response (https://ucfunds.org/wp-content/uploads/2024/08/UCF-Response-to-House-Judiciary-Committee-12Aug2024-FINAL.pdf) to the Committee from Charles Buck, UCF's President and CEO, UCF pushed back on the characterization of our work in achieving environmental, social and governance (ESG) goals as "collusion" or in violation of U.S. antitrust laws. "United Church Funds (UCF) has a dual mandate of earning competitive returns for our clients while also seeking a just and sustainable world," the letter read in part. "UCF views rising levels of greenhouse gas (GHG) emissions as an investment risk for the long-term returns and sustainability of its investment portfolio as well as deeply troubling, in light of the Christian theology of creation care."
More on Nyenta.com
Buck went on to write: "Addressing systemic and global issues like toxic emissions coming from greenhouse gas emissions requires a concerted effort. While UCF always acts independently, we believe that it is important for industry leaders to understand that concerns about GHGs are not ours alone.
"Climate Action 100+ enables us to identify and work with other investors who share our views about the materiality of climate risk and the responsibility of corporations across all sectors to make shifts in behavior that put the global economy on a more sustainable path."
While UCF disagrees with the Committee's characterization of our work, we are committed to transparency, and we will fully cooperate in providing the requested information regarding our ESG initiatives and climate justice efforts.
UCF's commitment to addressing climate change is exemplified by the United Church of Christ's notable legacy of environmental justice advocacy (https://www.ucc.org/what-we-do/justice-local-church-ministries/efam/environmental-justice/a_movement_is_born_environmental_justice_and_the_ucc/), which continues to inspire our work today. We believe that addressing climate-related risks aligns perfectly with our responsibilities as a faith- and values-aligned investor, and we look forward to continuing our work in this vital area, collaborating with stakeholders to further the goals of combatting climate change and achieving environmental justice and equity for all.
More on Nyenta.com
You can read the full text of the Committee's letter here (https://ucfunds.org/wp-content/uploads/2024/08/...) and UCF's full response to the Committee here (https://ucfunds.org/wp-content/uploads/2024/08/...).
In the letter, Rep. Jordan warned that collective pledges to drive down greenhouse gas emissions could be in violation of federal antitrust laws.
The letter followed a recent hearing by the Committee in which several Republican members focused on Climate Action 100+ (https://www.climateaction100.org/), an investor-led initiative of which UCF is a member, as evidence of unlawful collusion among responsible institutional investors.
In a written response (https://ucfunds.org/wp-content/uploads/2024/08/UCF-Response-to-House-Judiciary-Committee-12Aug2024-FINAL.pdf) to the Committee from Charles Buck, UCF's President and CEO, UCF pushed back on the characterization of our work in achieving environmental, social and governance (ESG) goals as "collusion" or in violation of U.S. antitrust laws. "United Church Funds (UCF) has a dual mandate of earning competitive returns for our clients while also seeking a just and sustainable world," the letter read in part. "UCF views rising levels of greenhouse gas (GHG) emissions as an investment risk for the long-term returns and sustainability of its investment portfolio as well as deeply troubling, in light of the Christian theology of creation care."
More on Nyenta.com
- BrickHouse Ceramic Art Center 2024 Annual Holiday Craft Show
- New Rochelle: Applications Now Available for Little Hoopers 2024 Basketball Clinic
- New Rochelle Parks and Recreation presents the 2024 Pickleball Tournament
- DocVilla Unveils AI and Automation in Cloud-Based EHR Software, Revolutionizing Healthcare Delivery
- INVESTIGATION: The M&A Class Action Firm Investigates the Merger and Imminent Vote on September 20, 2024, of Squarespace, Inc. - SQSP
Buck went on to write: "Addressing systemic and global issues like toxic emissions coming from greenhouse gas emissions requires a concerted effort. While UCF always acts independently, we believe that it is important for industry leaders to understand that concerns about GHGs are not ours alone.
"Climate Action 100+ enables us to identify and work with other investors who share our views about the materiality of climate risk and the responsibility of corporations across all sectors to make shifts in behavior that put the global economy on a more sustainable path."
While UCF disagrees with the Committee's characterization of our work, we are committed to transparency, and we will fully cooperate in providing the requested information regarding our ESG initiatives and climate justice efforts.
UCF's commitment to addressing climate change is exemplified by the United Church of Christ's notable legacy of environmental justice advocacy (https://www.ucc.org/what-we-do/justice-local-church-ministries/efam/environmental-justice/a_movement_is_born_environmental_justice_and_the_ucc/), which continues to inspire our work today. We believe that addressing climate-related risks aligns perfectly with our responsibilities as a faith- and values-aligned investor, and we look forward to continuing our work in this vital area, collaborating with stakeholders to further the goals of combatting climate change and achieving environmental justice and equity for all.
More on Nyenta.com
- DocVilla Introduces Best All-in-One Customizable Cloud-Based EHR Practice Management Software for Multi-Specialty and Small Practices
- 9/11 Remembrance Ceremonies in New Rochelle
- Life with Lucia and Glynn: A Global Duo Spreading Joy Through Matching Shirts and Adventures
- Luxury Real Estate Agent James Edmunds lists luxury beach home in the heart of Deerfield Beach
- Sycamore Hills Dentistry Welcomes the Yomi Robot: The Future of Dental Implant Surgery
You can read the full text of the Committee's letter here (https://ucfunds.org/wp-content/uploads/2024/08/...) and UCF's full response to the Committee here (https://ucfunds.org/wp-content/uploads/2024/08/...).
Source: United Church Funds
Filed Under: Financial
0 Comments
Latest on Nyenta.com
- HBCU New York Classic Makes History with First-Ever Divine Nine Stroll Line
- Pathways to Peace to launch proactive, case-management outreach model in Rochester City Schools
- Wordeee Publishes Kamau Ptah's, Crossing the Threshold; Embracing the Call
- The Demex Group Raises $10.25 Million to Address Growing Demand for its Breakthrough Weather- and Climate-related Reinsurance Solution
- Creative Biolabs presents codes ruling antibody discovery
- Entertainer Russell Moss Brings Two Nights Of Cool To New York's Triad Theater
- Don't Let The Pigeon Drive The Bus! The Musical! Flies Into To Tribeca PAC
- TalentWell Launches Next Generation of AI-powered Talent Sourcing with Automated, Personalized Videos
- Armata Pharmaceuticals to Participate in the H.C. Wainwright 26th Annual Global Investment Conference
- EIU strengthens leadership team and names Constance Hunter as chief economist
- Complete DataBase Package Passports, ID card, SSN card, DL, Birth Certificates
- SHAREHOLDER ALERT: The M&A Class Action Firm Investigates the Merger of Titan Pharmaceuticals, Inc. - TTNP
- Cboe Global Markets to Present at the Barclays Global Financial Services Conference on September 9
- L-Tron announces OSCR360 Tablet Software release v.2024.94.0
- OSCR360 featured at NYS Police FIU exhibit at the NY State Fair for Second Year
- Tutanota LLC Amends Tender Offer for up to 1,000,000 Shares of Intel Corporation
- Dr. Seth Chambers Shares Journey to Success in Implant Dentistry on Unofficial Podcast's Summer Series: "Mind, Body, & Arches"
- Datavalet is a Great Place to Work for the Second Year in a Row
- Health is for EveryBODY™ Campaign Partners with Chip In™
- Holiday Wine and Cider Tasting Event returns to the Hudson Valley