In August 2012, Ceres helped to achieve a truly historic strengthening in fuel economy standards for cars and light-duty trucks sold in the United States. By 2025, vehicle fleets will need to average 54.5 miles per gallon, nearly double the level of today. This milestone rule is a win-win-win for consumers, the economy, and U.S. job creation. Ceres played a pivotal role in mobilizing business and investor support for the rule and in publishing reports demonstrating the job creation benefits of higher fuel economy standards.
In September, Ceres mobilized more than 18 companies, including major consumer brands and several Fortune 500 firms, to write a letter to Congress urging the renewal of the Production Tax Credit for renewable energy. Ceres is unique in its ability to convene such a strong force of Fortune 500 companies to weigh in favor of this important measure. The strong message from these companies, many of which are members of Ceres’ BICEP program (Business for Innovative Climate and Energy Policy) demonstrates how a broad cross-section of U.S. companies are already relying on inexpensive and abundant American wind energy to power their businesses.
Also this fall, Ceres published a groundbreaking report on the vulnerability of the insurance industry to climate change. Ceres has identified the insurance industry as a key potential driver of change, because of the “double jeopardy” it faces. The industry is reeling from record losses ($32 billion in 2011 alone) due to extreme weather events that are increasingly exacerbated by climate change. And with more than $23 million in assets globally, insurers are also exposed to climate risk in their investment portfolios. With our reports and other pressure, Ceres aims to waken the sleeping giant of the insurance industry and spur it to take bold leadership action on climate change—action that will have reverberations throughout the economy.
Finally, in 2012, Ceres was named by Philanthropedia, a project of the charity watchdog group Guidestar, as one of the top 10 nonprofit organizations in the country working to combat climate change. Ceres is honored to be recognized for our unique approach to climate change issues: bringing together businesses, investors, and policymakers to build a healthy global economy. Among the comments of the 121 expert reviewers in the climate change field who participated in Philanthropedia’s survey: Ceres was admired for its “clarity of purpose,” “definitive niche,” and “very clear view of what is required to drive change.”
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