Activist investment leaders who have urged U.S. companies to cut carbon emissions said on Friday they expect more such efforts following a milestone U.S. Supreme Court ruling on Thursday that diminished the power of federal environmental regulators.
Via e-mail a Duke representative said "we and many of our stakeholders share the view that we can take a leadership role in tackling greenhouse gas emissions associated with our business."
Duke had previously said the Supreme Court ruling will not immediately impact its coal plant retirement dates including a full exit from coal by 2035. A Southern representative said the company "has a long-term constructive relationship with As You Sow and many other investors and environmental stakeholders and appreciates that stakeholders are interested in understanding the company’s path to net zero.
"Everything is not going to stop and go backwards just because of the Supreme Court ruling," Lubber said. Rather, utilities could face tougher requests from shareholders next year such as calls for more specific emission cut schedules or reviews of their lobbying activities, she said. Thursday's ruling reduced the power of officials to use the landmark Clean Air Act anti-pollution law. It is likely to have implications beyond the EPA as it raises new legal questions about any big decisions made by federal agencies.
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