Praxis meets with Duke Energy on climate and clean energy

The engagement continues productive conversation

Equity investing | May 22, 2024

Aerial view of road running a long a beach front through the woods

Praxis Investment Management recently joined investor partners and met with Duke Energy to discuss the company’s latest progress on climate change and its strategic goal of powering a cleaner future.

We received updates and had conversation with Duke on the following issue areas:

Just Transition – Duke’s comprehensive plan to consider and address the effect on workers, local communities, and stakeholders as the company retires and brings on new energy assets. We appreciate the publication of Just Transition metrics and periodic updates to better understand and track progress over time.
Emission reduction targets – Setting greenhouse gas (GHG) emissions reduction targets that are grounded in the relevant science, aligned with global pollution goals, and are actionable in terms of considering company opportunities, constraints and risks.
Electricity demand growth – The effect that new projections of near-term load growth mean for Duke’s capital expenditures and integrated resource plan, as well as the effect on renewable energy asset buildout.

Our dialogue with Duke Energy is part of our engagement with power companies on the transition to a low carbon economy, responding to God’s call to care for the world entrusted to us. We pursue win-win-win scenarios between the companies, employees, and ratepayers – with scenarios that benefit shareholders as well. These engagements provide a forum for frank discussions of goals and opportunities, as well as challenges and obstacles.

Shareholder advocacy in action

At Praxis, our investments generate a competitive financial return and deliver a clear and direct benefit to people and our planet. We believe it is our responsibility to encourage companies toward responsible business behavior.

Disclosure

As of April 30, 2024, the Praxis Value Index Fund has invested 0.56% of its assets in Duke Energy; and the Praxis Impact Bond Fund has invested 0.64% of its assets in Duke Energy. Fund holdings are subject to change. To obtain holdings as of the most recent quarter, visit praxisinvests.com.

You should consider the fund’s investment objectives, risks, sales charges and expenses carefully before you invest. The fund’s prospectus and summary prospectus contain this and other information. Please read them carefully before you invest.

Investment products are not FDIC insured, may lose value, and have no bank guarantee. Praxis Mutual Funds are advised by Praxis Investment Management, Inc. and distributed through Foreside Financial Services, LLC.