February 1, 2007

Report: U.S. Companies Fail to Disclose Climate-Change Risks

A new report says that only 47 percent of the members of the S&P 500 index responded to a request last year for information on their assessment of climate change risk that was signed by 225 international pension funds and investors, Financial Times reports (via MSN).

The report on the responses was prepared for Ceres, a coalition of investors and environmental groups, and Calvert, one of the largest US socially-concerned investment firms.

Only five out of 14 insurance companies bothered to respond to the survey. Many U.S. banks also stated that “climate change had little to do with their business.”

Eighty percent of the 228 companies that responded addressed the need to reduce greenhouse gas emissions, but only 25 percent of them had disclosed emissions reduction targets.

ADVERTISERS

CUTTING COMPLIANCE COSTS-CAN YOU AFFORD NOT TO?

Implement a cost effective compliance management program. Find out how. >>

ENTERPRISE EHS COMPLIANCE SOLUTION

Globally manage EHS initiatives - locally execute compliance programs. >>