In August of this year, President Obama and the Environmental Protection Agency (EPA) finalized the Clean Power Plan, a common-sense plan to cut carbon pollution from power plants. Power plants are the largest single source of carbon pollution accounting for roughly one-third of greenhouse gas emissions in the U.S. This plan looks to reduce carbon pollution from the power sector 
by 32% of 2005 levels by 2030. The EPA states this plan will lead to public health and climate benefits worth an estimated $55 billion to $93 billion in 2030. As a socially-responsible investor, Friends Fiduciary supports the Clean Power Plan and the efforts of the EPA. Further, we invest in like-minded companies that address the economic and environmental challenges associated with climate change. Many such environmentally responsible companies have executives that serve on the Board of the U.S. Chamber of Commerce (Chamber) or are members of the Chamber. Nonetheless, the Chamber has indicated their intention to sue to block these regulations and already is challenging EPA plans. So, FFC joined with over 60 other investors and organizations, representing over $324 billion in invested assets, to urge those environmentally responsible companies to express their disapproval of the Chamber’s actions and intentions. In communicating with these companies and their executives, we identify the benefits of the Clean Power Act and point out the misalignment between their company policies, actions and leadership and the actions and intentions of the Chamber. We reached out to nearly 50 companies representing Chamber Board members or large members of the Chamber paying sizeable fees. FFC is concerned about climate change and both its short-term and long-term effects. Additionally, as investors, we are concerned about the risks our investments face from damage to corporate reputations. While not all companies share our concerns about climate change, we argue that every company should be concerned with their reputation. It is our hope that enough companies will speak out against the Chamber’s actions in regard to the Clean Power Act so the regulations are implemented as quickly as possible, its benefits begin accumulating, and the ways of doing business in the power sector begin to improve. Click here for more information: Letters to Chamber of Commerce 8.31.2015
