As part of our focus on the climate crisis, Mercy Investment Services is using a new summary report on Just Transition – the incorporation of the needs and priorities of workers and communities into the transition to a low-carbon economy – during ongoing engagements with several utilities.
In early December, the Interfaith Center on Corporate Responsibility [ICCR] and the Initiative for Responsible Investment at Harvard Kennedy School [IRI] brought together faith- and values-based investors, investor-owned utilities, labor unions, issue area experts and civil society advocates to discuss engagement with the energy utility sector on the Just Transition. In the daylong dialogue, Mercy Investments and other investors met with utilities to highlight the need for greater transparency and reporting on corporate governance, policies, plans, and activities related to the workers and communities impacted by company plans to transition to low- to no- carbon energy sources.
The meeting notably found key areas of common concern and provided a beginning for social dialogue around Just Transition goals and principles. Investors and utilities both identified the importance of engaging public policymakers and regulatory bodies, who were not in attendance, in the conversation about Just Transition, as they will play a key role in ensuring that the concerns of all impacted groups are considered.
Mercy Investment Services continues engaging utilities on Just Transition and is using the summary report to provide background and a framework during these ongoing discussions.