Green Century Applauds EMCOR’s* Commitment to Reduce Greenhouse Gas Emissions
Media Contacts: Josh Chetwynd, jchetwynd@greencentury.com, 303-573-5558; Andrea Ranger, aranger@greencentury.com, 781-349-2813
Boston, January 21, 2022 – As part of its Curbing Climate Change initiative, Green Century Capital Management° has reached an agreement with EMCOR Group, Inc. on goals to limit its greenhouse gas emissions.
EMCOR is a Fortune 500 mechanical and electrical construction and building services company whose trucks and service vans can be seen at work sites across the United States. EMCOR designs and implements energy efficiency upgrades and constructs and services wind and solar energy installations. Further, during the COVID-19 pandemic, EMCOR has played a key public health role by improving and maintaining healthy indoor air quality in hospitals, educational facilities and office buildings.
“EMCOR had already taken steps to limit its greenhouse gas emissions, but we noticed that its goals were not yet aligned with the latest science. We reached out to see if the company would increase its ambitions,” said Green Century President Leslie Samuelrich. “When a company is receptive to investor concerns, direct engagement can reach the desired outcomes.”
Prior to engaging with Green Century, EMCOR had already begun working internally to quantify its greenhouse gas emissions and increase the efficiency of its fleet and operations. In late December, EMCOR and Green Century came to a mutual agreement on emission reduction initiatives. Namely, by October 2022, EMCOR will submit a letter of commitment to the Science Based Targets initiative, which then gives the company two years to develop reduction targets that align with the goal of limiting global warming to 1.5 degrees Celsius.
The commitment comes just after Green Century filed shareholder proposals with five other companies at the end of 2021 requesting they set emissions reduction targets approved by the Science Based Targets initiative, which validates greenhouse gas emissions reduction targets and tracks their implementation for more than 2,000 companies.
“This engagement with EMCOR is the type we like to see,” said Green Century Shareholder Advocate Andrea Ranger. “Their team really came to the table and listened to our concerns, and I think we both walked away satisfied.”
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About Green Century Capital Management
°Green Century Capital Management, Inc. (Green Century) is the investment advisor to the Green Century Funds (The Funds). The Green Century Funds are the first family of fossil fuel free, responsible, and diversified mutual funds in the United States. Green Century Capital Management hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.
*As of December 31, 2021, EMCOR Group Inc. comprised 0.00%, 0.03% and 0.00% of the Green Century Balanced Fund, the Green Century Equity Fund, and the Green Century International Index Fund respectively. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.
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