A Message to CEOs: Act On Climate, Or We'll Cut Your Pay
A lot of companies have announced ambitious goals to fight climate change. But who's keeping an eye on those companies to see if they keep their promises as npr's camilo domino's ski reports activist investors. Want to tell. Ceos cut your emissions or will cut your pay. Big companies are talking a big game on climate. Whether they're tech giants. Twenty thirty apple will be one hundred percent carbon neutral for our entire end to end footprint. Food companies like nestle. I'm committed to do what we can to protect our planet for future generations or even oil and gas companies across pay. We are changing to support our net zero ambition. Maybe you're skeptical. Maybe you remember twenty years ago. Bp pledge to go beyond petroleum and kept on pumping oil. Maybe you're wondering what happens if these promises are empty and often times when you find somebody is not making progress against that goal or we just stop is investors. Hearing about the goal. It's time to increase pressure on the company. Pat me nail tomato is with seven asset management. A socially responsible investment company and he says one way to increase pressure is to go to the board directors with this idea. It's time now once there's a goal in place to tie performance on that goal to executive compensation. Ceo's get huge incentive package is designed to reward them if they grow profits or promote worker safety or boost customer satisfaction companies could change those packages to peggy some pay to meeting climate targets so if executives hit their goals they get their full very large bonuses if they fall short their paychecks all to after shareholder pressure companies like apple and shell have actually said yes to this. This is new.