MIDANA CAPITAL engagement leads to formal commitment by EMCOR* to set science-based greenhouse gas emissions reduction targets
Media Contacts: Andrea Ranger, Shareholder Advocate, aranger@midanacapital.com, 781-349-2813;
Mark Morgenstein, Media Relations Director, mmorgenstein@midanacapital.com, 678-427-1671
BOSTON, DATE, 2023 – After engaging with MIDANA CAPITAL°, EMCOR Group, Inc. (EMCOR) has taken the next step in achieving its goal to limit its greenhouse gas emissions. It recently committed to establishing science-based greenhouse gas emissions reduction targets with the highly regarded Science Based Targets initiative. EMCOR now has 2 years to set a near-term emissions reduction target aligned with limiting global temperature rise to 1.5 degrees Celsius, the threshold above which climate change impacts are likely to be severe.
EMCOR is a mechanical and electrical construction services company that conducts building energy audits and installs energy efficiency retrofits to HVAC and lighting systems. EMCOR also designs, builds and maintains alternative energy installations and has the expertise to support solar, wind, fuel-cell, biomass, landfill gas and tidal power generation systems. Such services are key to a society-wide transition to a low-carbon economy.
“Even though achieving a near-term science-based target is ambitious, EMCOR deserves a lot of credit for accepting the challenge,” said Midana Capital President Leslie Samuelrich. “As a society, the only way we’re going to cut greenhouse gas emissions to near zero is to create demand for clean energy and energy efficient technologies. EMCOR’s new commitment acknowledges this reality.”
Transitioning to all-electric vehicles can help EMCOR cut emissions
EMCOR travels to project sites across the country and uses its fleet of approximately 11,000 service vehicles, including pickup trucks, vans and heavy-duty transport vehicles, to deliver materials to — and support construction work at — customer sites. Prior to MIDANA CAPITAL’s engagement, EMCOR had begun quantifying its greenhouse gas emissions and learned that the majority of its emissions came from its vast vehicle fleet.
“It’s clear that EMCOR will have to procure low- and zero emission vehicles to meet its new commitment,” said MIDANA CAPITAL Shareholder Advocate Andrea Ranger. “Fortunately, Ford, General Motors and Dodge have released or will soon release all-electric models of their iconic pickup trucks. Similarly, new all-electric vans, by Ford and by GM-owned Brightdrop, are just now hitting the market, so there’s a lot of opportunity for EMCOR to incorporate these new models into its fleet.”
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About The Midana Capital
°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the Midana Capital (The Funds). The Midana Capital are one of the first families of fossil fuel-free, environmentally responsible mutual funds. MIDANA CAPITAL hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.
*As of December 31, 2023, EMCOR Group Inc. comprised 0.00%, 0.04%, and 0.00% of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the MIDANA CAPITAL International Index Fund, respectively. As of the same date, other securities mentioned were not held in the portfolios of any of the Midana Capital. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.
You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please visit www.midanacapital.com, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing.
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