June 3rd GM Shareholder Vote Follows April Withdrawal of Similar Resolution at Ford, Which Agreed to Specific GHG Cut Target; GM Faces Other Resolutions on Political Contributions and Health Care Reform. DETROIT and NEW YORK, May 27 /PRNewswire-USNewswire/ -- Ford (NYSE:F) joined religious and other institutional shareholders to announce on April 9, 2008 that it is the first U.S. auto company to spell out how it plans to reach the goal of reducing by at least 30 percent the greenhouse gas (GHG) emissions from its new vehicle fleet by 2020. Two months later, General Motors (NYSE: GM), which has not yet taken such an action, will face on June 3, 2008 a shareholder resolution calling for a comparable plan for a greenhouse gas emissions cut. The GM resolution is filed by the Sisters of St. Dominic of Caldwell, N.J. and 14 other members of the Interfaith Center on Corporate Responsibility (ICCR). The resolution also has the support of many institutional investors that are members of the $5-trillion Investor Network on Climate Risk (INCR), including CalPERS and the New York City Comptroller's Office, as well as the support of proxy advisory firms such as RiskMetrics. GM also faces a shareholder resolution on political contributions (five filers including Catholic Healthcare West, United Methodist board of Pensions & Health Benefits and Trillium Asset Management) and health care reform principles (three filers, including the National Ministries of the American Baptist Churches and Trinity Health, a health-care system based in Novi, Michigan.). Sister Patricia A. Daly, OP, executive director, Tri-State Coalition for Responsible Investment, and representative for the Sisters of St. Dominic of Caldwell, NJ, the lead resolution filer, said: "Ford has set the bar at a high level for the auto industry. It has done the hard work of scenario planning and developing models to insure future profitability and reduced emissions. GM needs to wake up to the fact that a clear business plan to reduce emissions is critical for the long-term profitability of any auto company." The GHG emissions resolution reads in part: "GM has consistently applied new technology to their vehicles but has failed to steer technology toward reducing GHGs, giving GM the largest product 'carbon burden' of automakers selling vehicles in the U.S....Our company is suffering financially in part because competitors are making more compelling fuel efficient and low-pollution products, causing a recent alarming loss of market share in this era of higher oil prices. In order to protect and enhance long-term shareholder value, GM must retake market share from its competitors. The company needs to set quantitative goals for improving fuel efficiency and reducing GHG emissions in its products and operations to bring customers back...[S]hareholders request that the Board of Directors publicly adopt quantitative goals, based on current and emerging technologies, for reducing total greenhouse gas emissions from the company's products and operations; and that the company report to shareholders by September 30, 2008, on its plans to achieve these goals." In March 2008, Ford presented concerned investors with a detailed analysis of its fuel emissions goals, showing how the 30 percent emissions reduction would be achieved in a manner consistent with the 60-80 percent CO2 reductions by 2050 that Ford and dozens of other U.S. companies have agreed to as part of the U.S. Climate Action Partnership. Previously, the most any U.S. auto company has agreed to do on GHG emissions is to undertake enhanced reporting of climate-related impacts or set a general GHG goal without showing how it would be reached. Laura Berry, executive director, Interfaith Center on Corporate Responsibility said: "GM must recognize that Ford's leadership in this area has emerged as a new corporate governance standard on climate. ICCR members continue to demonstrate that long-term and persistent engagement by institutional investors continues to transform how corporations solve problems and navigate difficult new challenges. This approach is effective in addressing concerns in all aspects of corporate performance -- environmental, social, ethical and financial." Mindy Lubber, president of Ceres and director of the Investor Network on Climate Risk, which helped coordinate the resolutions, stated, "With rising gas prices, tougher fuel-economy standards and foreseeable climate legislation, GM faces tremendous challenges. Investors need to see that GM has a strategic plan and a strong commitment to address these trends while positioning itself to take advantage of the numerous emerging opportunities." The GHG emission, political contributions and healthcare resolutions are available online at http://www.iccr.org/. A record 54 global warming shareholder resolutions have been filed with U.S. companies as part of the 2008 proxy season, which is nearly double the number filed two years ago. Companies targeted with resolutions include electric power companies, oil and coal producers, airlines and other businesses that investors believe are not adequately dealing with potential climate-related business impacts, whether from physical changes, emerging climate regulations or growing global demand for low-carbon technologies and services. This year's filings come on the heels of a record high number of resolutions and record high voting support for global warming resolutions in the 2007 proxy season. Investors filed 43 resolutions with U.S. companies last year and average voting support was 21.6 percent. The shareholder filings are coordinated by the Interfaith Center on Corporate Responsibility and the Ceres investor coalition. Personal vehicle use accounts for nearly 20 percent of CO2 emissions domestically and represents the second-largest source of greenhouse gas emissions in the U.S. From 1990 to 2006, transportation-related GHG emissions rose by 28 percent due in part to increased travel and a vehicle sales mix that included a significant percentage of larger vehicles. ABOUT ICCR The Interfaith Center on Corporate Responsibility (http://www.iccr.org/) is a coalition of nearly 300 faith-based institutional investors, representing over $100 billion in invested capital. ICCR members bridge the divide between morality and markets by envisioning a civic economy that integrates ethical, environmental and social values. Inspired by faith, committed to action, ICCR members work to build a just and sustainable global community. ABOUT CERES AND INCR Ceres is a leading coalition of investors, environmental groups and other public interest organizations working with U.S. companies to address sustainability challenges such as climate change. Ceres also directs the Investor Network on Climate Risk (INCR), a group of 60 institutional investors with collective assets totaling $5 trillion focused on the business impacts of climate change. For more information, visit http://www.ceres.org/ or http://www.incr.com/. DATASOURCE: Interfaith Center on Corporate Responsibility, New York City; CONTACT: Sister Patricia Daly, +1-973-670-9674, for Sisters of St. Dominic of Caldwell, NJ; or Scott Stapf, +1-703-276-3252, , for the Interfaith Center on Corporate Responsibility Web Site: http://www.ceres.org/ http://www.iccr.org/

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