BOSTON, MA – Trillium Asset Management, Walden Asset Management, Boston Common Asset Management, and Calvert Investments are pleased to announce they have successfully withdrawn their shareholder proposal at Costco Wholesale regarding greenhouse gas emissions and climate change policy.
The proposal was withdrawn following several commitments from the company including resuming participation in the CDP (Carbon Disclosure Project). In addition, Costco’s next sustainability report in 2015 will include a discussion of the company’s approach to energy use within the context of the Intergovernmental Panel on Climate Change recommendations and the Copenhagen Accord’s agreement to attempt to limit global warming to 2 degrees Celsius. Costco has also committed to keeping the growth of its GHG emission to less than its sales growth over the next five years and to an ongoing dialogue. Costco’s commitments build on its previous efforts on renewable energy highlighted in the Power Forward 2 report, and on energy efficiency, which have enabled the company to grow its sales from 2008 to 2011 without increasing its emissions.
We commend Costco for taking these positive steps towards addressing the company’s exposure to climate change. Managing and reporting on climate change business practices helps companies compete in a global business environment, build resilient supply chains, manage operational and reputational risk, and create new products and services. We believe the positive steps taken by Costco will keep it on the path towards greater efficiency, increased savings and playing an important role in addressing climate change.
