EEP_INT_AR_2023_EN_FINAL_short
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• No date is yet known for the publication of this<br />
regulation, which has been postponed several times<br />
due to strong business opposition and the threat of<br />
legal action by the US Chamber of Commerce.<br />
4.12 NET ZERO <strong>EN</strong>GAGEM<strong>EN</strong>T INITIATIVE<br />
CONTEXT AND OBJECTIVES<br />
The <strong>EEP</strong> International and a group of institutional<br />
investors, coordinated by the Institutional Investors<br />
Group on Climate Change (IIGCC), have launched a<br />
pledge campaign in the first quarter of <strong>2023</strong> to<br />
encourage more than 100 of the largest greenhouse gas<br />
emitters, mainly in Europe, to adopt and implement netzero<br />
strategies.<br />
ACTIONS AND RESULTS IN <strong>2023</strong><br />
• At the end of September, the campaign was<br />
supported by 102 institutional investors.<br />
• 85 companies had initiated a dialogue with investors.<br />
• 68 companies had formally responded to the launch<br />
letter.<br />
4.14 SAY ON CLIMATE VOTE AT UK<br />
COMPANIES<br />
CONTEXT AND OBJECTIVES<br />
The <strong>EEP</strong> International and a group of institutional<br />
investors, coordinated by CCLA Investment<br />
Management and the Local Authority Pension Fund<br />
Forum (LAPFF), launched a campaign in September <strong>2023</strong><br />
to encourage 35 high-carbon-emitting UK companies to<br />
submit their transition plans for shareholder approval at<br />
their AGMs in 2024.<br />
ACTIONS AND RESULTS IN <strong>2023</strong><br />
• 18 institutional investors with GBP 1’800 billion in<br />
assets under management are supporting the<br />
campaign.<br />
• 13 companies have responded to the investor letter,<br />
and one has committed to submit its transition plan<br />
for shareholder approval. Several have offered to<br />
hold meetings with investors to discuss their<br />
strategies.<br />
4.13 BUSINESS LETTER FOR AMBITIOUS EU<br />
SUSTAINABILITY REPORTING<br />
STAND<strong>AR</strong>DS<br />
CONTEXT AND OBJECTIVES<br />
The <strong>EEP</strong> International and a group of institutional<br />
investors and real economy companies, coordinated by<br />
CDP, sent a letter to the European Commission at the<br />
beginning of <strong>2023</strong> calling for the adoption of ambitious<br />
European Sustainability Reporting Standards (ESRS) to<br />
ensure that the final version expected in summer <strong>2023</strong> is<br />
not watered down.<br />
ACTIONS AND RESULTS IN <strong>2023</strong><br />
• The ESRS were adopted on 31 July <strong>2023</strong> by the<br />
European Commission and will be applied from 2025<br />
based on 2024 figures.<br />
• Cooperation announced between EFRAG and CDP to<br />
work together to implement these new European<br />
standards.<br />
• The campaign was closed this year.<br />
24
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