Scientists assert that greenhouse gas emissions must decline by 45% from 2010 levels by 2030 to limit global warming to 1.5°C.1 The United Nations Environment Programme reports that critical gaps remain between government commitments and the actions required to prevent the worst effects of climate change.2 Companies have an important and constructive role to play in enabling policymakers to close these gaps. NRG has voiced support for the goals of the Paris Agreement and set science-based emissions targets aligned with the 1.5°C objective. But it is unclear to proponents how NRG’s direct lobbying and policy advocacy through trade associations and other politically focused nonprofits align with the Paris Agreement’s aims. NRG does not disclose a comprehensive list of its trade association memberships or policy organization involvement. NRG further does not disclose how it resolves any misalignment with such groups, noting: Continued involvement does not imply agreement with all the views expressed by these organizations. 3 Of particular concern are trade associations and other politically active organizations that speak for business but too often present forceful obstacles to progress in addressing the climate crisis. Corporate lobbying that is inconsistent with the Paris Agreement presents increasingly material risks to companies and investors, including systemic risks to our financial systems, as delays in emissions reductions increase the compounding physical risks of climate change, threaten economic stability, and heighten uncertainty and volatility in investment portfolios.4 We believe that Paris-aligned climate lobbying, and assessments to ensure alignment, help to mitigate these risks, and enhance the long-term value of companies. As investors, we view fulfillment of the Paris Agreement’s goal as an imperative to discharging our fiduciary duties. We are convinced that unabated climate change will have a devastating impact on political stability and infrastructure, impair access to finance and insurance, exacerbate health risks and costs, disrupt energy availability, and impact the value of our investments. Business as usual climate scenarios of 3-4°C or more are unacceptable and uninvestable. Investors’ focus on the misalignment between companies’ policies or commitments and their public policy advocacy has intensified recently,5 as has concern regarding broader corporate actions to stall short- and medium-term progress on the Paris Agreement’s objectives. Highlighting selective examples of NRG’s or its trade groups’ limited actions for emissions progress is insufficient. We support a comprehensive review of corporate lobbying and the degree of alignment with the Paris Agreement’s objectives, as well as plans for actions to address any misalignment.