Zevin Asset Management’s Testimony to EPA in Support of Clean Truck Rule

On March 28, 2022, Environmental Protection Agency (EPA) published a proposed rule that would set new, more stringent standards to reduce pollution from heavy-duty vehicles and engines starting in model year (MY) 2027. The proposed standards would significantly reduce emissions of smog- and soot-forming nitrogen oxides (NOx) from heavy-duty gasoline and diesel engines and set more stringent greenhouse gas (GHG) standards for certain commercial vehicle categories.

Zevin Asset Management presented the following testimony in a virtual public hearing at EPA for the proposed rule.

Q1 2022 Impact Update

At Zevin Asset Management, we build responsible investment portfolios for our clients. We then address risks and create positive social impact by engaging with portfolio companies. The early months of 2022 were no exception. In the first quarter of 2022, we looked for opportunities to support the people of Ukraine against Russia’s invasion. We initiated dialogues with portfolio companies and the investment community on their role in enabling this war — and pressed for action to mitigate further human rights abuses.

The Investor Response to the Russian War in Ukraine

As another needless war unfolds, it’s important to consider how investors have enabled Putin over the years and the lessons to be learned from burying one’s head in the sand.  

His invasion of Georgia in 2008 and then of Crimea in 2014 should have been early warning signs for asset owners and managers. Yet many responded with yawns and shrugs over the years, prioritizing profit over values by choosing to stay invested. I understand this more than most, as an ex-Russian equity analyst who saw up close the potential for making gobs of money by investing in Russian-owned businesses. On Feb. 24, when Putin invaded Ukraine again, those that remained invested had no excuse.