NYC Pension Head Calls on GM to Disclose Lobbying Practices

New York City Comptroller Scott Stringer, who oversees the city’s $194.5 billion pension fund system, is calling on General Motors (GM) to disclose its government lobbying policies and has accused the automaker of working “behind the scenes” to undermine climate policies that it supports publicly.

“When GM states that it is committed to a zero-emissions future while seeking to undermine climate policies through litigation and lobbying, it erodes the company’s credibility,” Stringer said in a statement. “There is a clear misalignment between GM’s public support for a low-carbon economy and its actions behind the scenes.”

Stringer said the company’s lobbying should be transparent, disclosed annually to shareholders, and consistent with the Paris Agreement. GM had its annual meeting of shareholders on Monday, and, based on preliminary results, only 33% of shareholders voted in favor of a proposal for the company to report on lobbying communications and activities “to assess whether GM’s lobbying is consistent with its express goals and in the shareholders’ best interest.”

In response to the Stringer’s criticism, GM told CIO that it believes that “the best way to remove automobile emissions from the environmental equation is an all-electric, zero emissions future but on a national and global level, not a patchwork of US states.” The company said it remains “committed to year-over-year improvements in conventional fuel economy in addition to our leading investments in electrification.”

And in regard to GM’s industry lobbying efforts, the company said the Automotive Alliance for Innovation supports federal policy “that improves fuel economy and reduces vehicle greenhouse gas emissions as part of a cleaner, safer, smarter future for personal mobility.”

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