US

Ford withdraws from nonprofit U.S. Climate Action Partnership

Ford Motor Company formally withdrew from the U.S. Climate Action Partnership, an environmental lobby organization which uses corporate support to promote a cap-and-trade framework for carbon emissions.

"We congratulate [Ford chief executive] Alan Mulally not only for keeping his word to review Ford's membership in USCAP, but for making the right decision by withdrawing. The regulations USCAP seeks would prove costly to the auto industry and jeopardize the recovery while still in its infancy," National Center for Public Policy Research president David Ridenour, a Ford shareholder, said in a statement.

"By withdrawing from the group, [Mr.] Mulally demonstrated the same kind of sound judgment that enabled Ford to be the only major U.S. auto company to avoid government-sponsored bankruptcy protection," he added.

Mr. Ridenour earlier alleged that the automakers' allegiance to initiatives that support reductions in greenhouse gas emissions is taking a toll on their credibility, saying that "one corporation's favorability rating dropped 31 points while another's dropped 50 points because of their support for cap-and-trade."

Other companies that have withdrawn their USCAP membership include Caterpillar, John Deere, ConocoPhillips, BP and General Motors. – Jhoanna Frances S. Valdez