Published by Responsible Alpha: The Chemical Coast, along the Gulf Coast of Texas and Louisiana, is where 84% of U.S. plastics production, across the sector’s supply chain, is located. Each state has policies that both support using industrial revenue bonds and limit property taxes on petrochemical facilities, which produce the chemicals used in plastics manufacturing, that use fossil fuel energy with fossil fuel feedstocks to make the plastics we use, despite significant risks to local communities’ health.

Published by Responsible Alpha: The Chemical Coast, along the Gulf Coast of Texas and Louisiana, is where 84% of U.S. plastics production, across the sector’s supply chain, is located. Each state has policies that both support using industrial revenue bonds and limit property taxes on petrochemical facilities, which produce the chemicals used in plastics manufacturing, that use fossil fuel energy with fossil fuel feedstocks to make the plastics we use, despite significant risks to local communities’ health.

Responsible Alpha developed the business, economic, and investment analysis used by 123 environmental, indigenous rights, and racial justice organizations in their letter to the Honorable Gary Gensler, Chair, U.S. Securities and Exchange Commission on the proposed rule "The Enhancement and Standardization of Climate-Related Disclosures for Investors."

Published by Responsible Alpha: In 2022 Duke Energy Corporation had $84 billion in market capitalization, $62 billion in fixed income securities, and 27,000 employees, as an energy company located primarily in the Americas that owned an integrated network of energy assets and it is one of the largest U.S. utilities. ​ In 2020, Duke reported Scope 1 emissions of 75 million mtCO2e, 24.5 thousand metric tons SO2, 39 thousand metric tons NOx, and 142.4 thousand metric tons methane emissions with coal generating 20.9% total electricity. ​ For years, Duke has stored coal ash in landfills and ponds that often leak toxins into waterways. A leak in 2014 at a Duke North Carolina coal ash pond site left coal ash coating 70 miles of the Dan River. In 2015, Duke pled guilty and agreed to $102 million in fines and restitution due to federal environmental crimes because the company acknowledged it coal ash dumps at five power plants to leak toxic waste into water supplies.

Published by Responsible Alpha: As of 2022, Dominion Energy was the lead investor in the Atlantic Coast Pipeline joint venture was a 604-mile-long natural gas pipeline with a capacity of 1.5 billion cubic feet of gas daily to alleviate a bottleneck to gas produced from the Marcellus Shale in Appalachia reaching growing markets in Virginia and North Carolina. Environmental risks, community risks, and climate risks killed the $8 billion Atlantic Coast Pipeline, forcing multibillion-dollar writeoffs at Dominion and Duke.

Published by Responsible Alpha: Marathon Petroleum Corporation, $52 billion in market capitalization, $31.6 billion in fixed income securities, 17,700 employees, Ohio-based crude oil refining company. Marathon refines, supplies, markets, and transports petroleum products. The company serves customers in the United States.

Published by Responsible Alpha: Glencore plc, $79 billion market capitalization, $33.8 billion in fixed income securities, 81,300 employees, is a diversified natural resources company. In January 2022, Swiss multinational Glencore became the sole operator of Latin America’s largest openpit coal mine, Cerrejón, when it completed its purchase of the mine from Anglo American and BHP for an estimated final sale price of $230 million after adjusting for cash flows accruing to Glencore since the announcement of the sale. But after thermal coal prices surged to a record high over the period – underpinned by a global energy crunch – Glencore said the cash payment on completion of the deal totals just $101 million.

Published by Responsible Alpha: Brazil-based JBS, $16 billion market capitalization, $14.6 billion in fixed income securities outstanding, 250,000 employees, is the world's largest processor of animal protein. JBS emissions rose from 280 million metric tons of carbon dioxide equivalent (MtCO2e) in 2016 to 421.6 MtCO2e in 2021 – an increase of 51 percent over five years – and 90 percent of these emissions are Scope 3 emissions driven by its cattle production and upstream deforestation and degradation. JBS climate footprint is greater than the country of Italy, yet JBS does not report on its Scope 3 emissions, which are 90 percent of its emissions.

Published by Responsible Alpha: Dakota Access Pipeline (DAPL) is a joint venture led by Energy Transfer LP, $36 billion market capitalization, $49 billion in fixed income across 70 corporate bonds, 9 loans, and 3 preferreds, 12,500 employees, with ownership stakes by MarEn Bakken Company (a joint venture between Enbridge and Marathon Petroleum Corporation), and Phillips. Energy Transfer was formed in 1996 and became a publicly traded partnership in 2004.

Published by Responsible Alpha: GeoPark Ltd, $1 billion market capitalization, $641 million in fixed income securities, 463 employees, is an independent Chilean oil and gas explorer, operator and consolidator with assets and growth platforms in Colombia, Ecuador, Chile, Brazil and Argentina. Adjusted revenues peaked at $689 million in 2021.

Published by Responsible Alpha: Arkema, $9.2 billion market capitalization, $4.7 billion in fixed income securities, 20,000 employees, is a leading producer of specialty and commodity plastics in the U.S. Arkema has a plastics production facility that was damaged during and after Hurricane Harvey.

Published by Responsible Alpha: IOI Corporation, $6.5 billion market capitalization, 30,000 employees, $660 million in fixed income, In March 2016 IOI was suspended for five months from the Roundtable on Sustainable Palm Oil (RSPO), after revelations that IOI subsidiaries in West Kalimantan, Indonesia, were responsible for the illegal clearance of 11,750 hectares of tropical forest, including 1,300 hectares within a state production forest, and “deep peat clearance”. As a result of the suspension, IOI lost access to markets for certified sustainable palm oil (CSPO). More than 50 percent of IOI’s revenues come from RSPO sales, so the suspension had a significant and immediate material impact on its business. As a result, IOI’s net income was negative $14.8 million in Q2 2016, compared to a $30 million gain in Q2 2015.

Published by Responsible Alpha: Active Energy, $13 million in market capitalization, 40 employees and no debt, through subsidiaries, provides biomass fuel and energy efficient solutions to reduce energy consumption and CO2 emissions. Active Energy Renewable Power LLC (AERP) proposed to produce wood pellet biofuel for export to Europe as a coal amendment/substitute, using a new proprietary technology. The technology is untested but is revealed to produce a likely public health risk through air pollution, in an already heavily polluted black, Indigenous, and people of color (BIPOC) community, producing a disproportionate environmental health burden.

Published by Responsible Alpha: The global ultimate owner of the Adani Group is Gautam Adani and his family, who are worth $124 billion. The Adani Group is a diversified organization in India with market capitalization of $183 billion, comprising seven publicly traded companies and numerous privately held wholly owned companies.

Published by Responsible Alpha: Formosa Petrochemical Corporations (“FPCC”) owns 57 percent in FG Inc., and FG Inc. owns 100% of FG LA LLC (“Sunshine Project”). According to Moody’s Orbis, FPCC is the global ultimate owner of the Sunshine Project. A Global Ultimate Owner (“GUO”) is the individual or entity at the top of a corporate ownership structure with ultimate legal liability.