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Shareholders Laud Ford as First U.S. Automaker to Set "Clearly Defined Goal" For a Major Cut In Greenhouse Gas Emissions

Religious, Pension Fund Shareholder Resolutions Key to Step Taken byFord

DETROIT and NEW YORK, April 9 -- Religious and other institutionalinvestors joined today with Ford Motor Co.in announcing that Ford is the first U.S. auto company to spell out how itplans to reach the goal of reducing by at least 30 percent the greenhousegas (GHG) emissions from its new vehicle fleet by 2020. The decision byFord to publish its emission target came in the wake of climate-relatedshareholder resolutions put forward by members of the Interfaith Center onCorporate Responsibility (ICCR) and the Investor Network on Climate RiskNetwork (INCR) organized by Ceres.

As a result, related Ford shareholder resolutions have been withdrawnby: the Sisters of St. Dominic of Caldwell, NJ and other members of ICCR,which is a group of nearly 300 religious institutional investorsrepresenting over $100 billion in invested funds; and the Connecticut StateTreasurer"s office, which is active in INCR, a $5 trillion network ofinvestors that promotes better understanding of the financial risks andopportunities posed by climate change. Connecticut holds 565,246 shares ofFord with market value $3,668,446.54 (as of April 7, 2008).

In March, Ford presented concerned investors with a detailed analysis ofits fuel emissions goals showing how the 30 percent emissions reductionwould be achieved in a manner consistent with the 60-80 percent CO2reductions by 2050 that Ford and dozens of other U.S. companies have agreedto as part of the U.S. Climate Action Partnership. Previously, the mostany U.S. auto company has agreed to do on GHG emissions is to undertakeenhanced reporting of climate-related impacts or set a general GHG goalwithout showing how it would be reached.

Beyond Ford, religious investors are urging General Motors to setspecific greenhouse gas reduction targets for its vehicles and operations.A shareholder resolution also filed by The Dominicans of Caldwell isexpected to be voted on at GM"s annual meeting in June 2008.

Sister Patricia A. Daly, OP, executive director, Tri-State Coalition forResponsible Investment, and representative for the Sisters of St. Dominicof Caldwell, NJ, the lead resolution filer, said: "Ford breaks new groundhere as the first corporation to respond to shareowners by agreeing topursue a specific and clearly defined target for climate-related emissionsin their new products. The target is not even the win here; Ford haswrestled with various analyses to arrive at reduction goals. No othercompany has entered into this discipline. This goes far beyondacknowledging global warming or disclosing emissions. Even as a leader inthe "carbon club" Ford opens the door for other companies and industries totarget reductions."

"Ford has spent more than three years studying a range of potentialactions we would need to take to achieve these reductions in CO2emissions," said Sue Cischke, group vice president, Sustainability,Environment and Safety Engineering, Ford Motor Company. "We shared ourfindings with these institutional investors to help them understand ourcommitments and strategy. We recognize much work remains to be done and welook forward to continued collaboration in addressing the challenges ofclimate change."

Connecticut State Treasurer Denise L. Nappier said: "Climate change is along-term, mounting problem, and for any company to maintain its futureshareholder value, it must go from being silent on this issue to moving inthe right direction by mitigating the potential financial harm posed byclimate change. For this reason, Ford"s welcomed response to our climatechange resolution is a defining moment in the automotive industry, and Ihope it will challenge industry procrastinators. Others may say they"refocused on future business growth and success, but they need to step up tothe plate and likewise take responsive action. By publicly acknowledgingthat climate change will affect the auto industry and by committing totaking measurable action to increase fuel economy and reduce CO2 emissionsover a specified time, Ford is making news. I encourage other autocompanies to follow Ford"s lead and help shape a sustainable environmentconducive for business growth and success."

Laura Berry, executive director, Interfaith Center on CorporateResponsibility said: "ICCR"s model of long-term and persistent engagementby institutional investors who are concerned about all aspects of corporateperformance - environmental, social, ethical and financial - is beginningto transform how corporations solve problems and navigate difficult newchallenges. Ford"s leadership in this area has emerged as a new corporategovernance standard on climate."

Mindy Lubber, president of Ceres and director of the Investor Network onClimate Risk said: "Ford is taking a critical first step to align itsproducts with the climate change challenge before us. But, let"s not foolourselves, this step is only a beginning. Ford, as well as General Motors,need to do much more, and quickly, to reclaim their leadership role in theglobal marketplace."

The withdrawals come one month after investors announced that a record54 global warming shareholder resolutions have been filed with U.S.companies as part of the 2008 proxy season, which is nearly double thenumber filed two years ago. Companies targeted with resolutions includeelectric power companies, oil and coal producers, airlines and otherbusinesses that investors believe are not adequately dealing with potentialclimate-related business impacts, whether from physical changes, emergingclimate regulations or growing global demand for low-carbon technologiesand services.

This year"s filings come on the heels of a record high number ofresolutions and record high voting support for global warming resolutionsin the 2007 proxy season. Investors filed 43 resolutions with U.S.companies last year and average voting support was 21.6 percent. Theshareholder filings are coordinated by the Interfaith Center on CorporateResponsibility and the Ceres investor coalition.

Personal vehicle use accounts for nearly 20 percent of CO2 emissionsdomestically and represents the second-largest source of greenhouse gasemissions in the U.S. From 1990 to 2006, transportation-related GHGemissions rose by 28 percent due in part to increased travel and a vehiclesales mix that included a significant percentage of larger vehicles.

ABOUT THE GROUPS

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 thedivide between morality and markets by envisioning a civic economy thatintegrates ethical, environmental and social values. Inspired by faith,committed to action, ICCR members work to build a just and sustainableglobal community.

Ceres is a leading coalition of investors, environmental groups andother public interest organizations working with U.S. companies to addresssustainability challenges such as climate change. Ceres also directs theInvestor Network on Climate Risk (INCR), a group of 60 institutionalinvestors with collective assets totaling $5 trillion focused on thebusiness impacts of climate change.