Magaziner Reaches Agreement with Archer Daniels Midland on Greenhouse Gas Emissions
GoLocalProv Business Team
Magaziner Reaches Agreement with Archer Daniels Midland on Greenhouse Gas Emissions
ADM, one of the largest agricultural processors in the world, agreed to assess the feasibility of adopting quantitative, company-wide goals for reducing the company’s greenhouse gas emissions, including increasing its use of renewable energy.
"Pension funds are long-term investors. Companies, especially those as large as Archer Daniels Midland, must have a plan to adapt their business model to reduce dependence on fossil fuels. A transition to renewable energy can help stabilize and reduce energy costs - freeing up corporate resources that can be invested for sustainable growth,” said Magaziner.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTWith the agreement, Rhode Island has withdrawn the shareholder proxy proposal that was filed at ADM last year.
The Agreement
ADM has agreed to produce a report outlining the feasibility of greenhouse gas targets, for review by its board of directors, by the end of the first quarter of 2020.
Following the board's review, ADM will make the report publicly available on its website.
According to Magaziner’s press release, increasing the use of renewable energy can help companies proactively prepare for the implementation of energy-efficiency standards and carbon-reduction regulations.
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