Sun joins investors, businesses in call to Feds for climate change

First, TechNet a couple of weeks ago challenged Congress and the president to invest more seed money in sustainable-energy initiatives and offer greater tax incentives to go green.

Then just last week, 65 investors, asset managers, and major corporations — including just one IT company, Sun Microsystems — issued a “Climate Call to Action” to the U.S government, an effort orchestrated by Ceresand the Investor Network on Climate Risk. The call to action urged lawmakers to enact strong federal legislation to curb the pollution causing global climate change.

That was their wording, by the way: “curb the pollution causing global climate change.” I was immediately stuck by this, because from what I’ve observed in recent history, companies have tried to shy away from the politically charged topic of global warming.

But these guys clearly take the subject seriously — or at least the associated investment opportunities (so notes my inner cynic). And to emphasize just how, ahem, important their position is, the group notes that it includes dozens of institutional investors who manage $4 trillion in assets. That’s the kind of number (i.e. a large one starting with a dollar sign) that makes politicians perk up, take notice, and on occassion, wet themselves.

Among the group’s recommendations, it’s asking for “leadership by the U.S. government to achieve sizable, sensible long-term reductions of greenhouse gas emissions”; from 60 to 90% reductions below 1990 levels by 2050. (There’s a pretty big difference between 60% and 90%, I’d note.)

The group suggests, as well, mandatory market-based solutions, such as a cap-and-trade system, through which companies could buy and sell their pollution allowance.

Of course, the group doesn’t just call on lawmakers’ environmentalistic sensibilities: It calls for “a range of policy measures to provide the financial incentives that are needed to stimulate research, development, and deployment of cleaner, more efficient technologies at the scale necessary.”

Finally, the group asks for the SEC and other regulatory groups to better define the material issues related to climate change and clarify what companies should disclose on climate change in their regular financial reporting.

As I noted earlier, while many IT companies were involved in TechNet’s sustainable-technology call to the government a couple of weeks ago, Sun is the only IT company to appear on the list of signatories for this Climate Call to Action. Here’s what Dave Douglas, the company’s vice president of eco-responsibility (is that anything like a chief sustainability officer?), had to say about it:

On the call to action: “What we’re asking for are clear policies and direction. We’re joining together with other corporations to send a clear signal to our lawmakers. We’d like to see a framework in which businesses can take action, set goals and engage in long-term strategies, including taxes, rebates, and long-term costs for companies.”

On what what businesses should do rather than simply waiting for the government to lead the green charge: “By measuring and modifying energy usage, a businesses can lower their environmental impact today. Businesses don’t need to wait for the government to decide, they can put their own longer term sustainability strategies in play.”

On what the government’s role should be in spurring “greenovation”: “Given its size, we believe its important that the federal government commit to being a good example in its own operations. Beyond legislation, our government has the power to influence innovation and business practices by only procuring products, for example, that are energy efficient. As a major market force, it makes a lot of sense for government to set out its own longer term strategy for energy use.”

My own perpsective on this call to action is, it does make sense, but I think the group might have taken a different approach. Much of the up-front emphasis in the call to action pertains to global climate change. While I think that’s a very important subject that needs to be addressed, I acknowledge that some people out there — including lawmakers — remain skeptical. Thus, I think this group should have put more emphasis on the economic opportunities that the budding green-tech industry offers the nation as a whole, the way TechNet did with its call to action. The promise of green, clean technologies mean not only more jobs, as well as a competitive edge for American businesses; it means we can reduce our dependency on fossil fuels from the tumultuous Middle East.

To see the entire call to action, go here.