Saturday, September 17, 2005

Corporations cotton onto climate change

More U.S. corporations than ever before now factor climate change into the risks and opportunities faced by their businesses, according to a new report by the Carbon Disclosure Project (CDP), a coalition of institutional investors with more than $21 trillion in assets.

It suggests that increased interest from the investment community, in conjunction with related macro-economic developments, is encouraging the development of strategies to reduce greenhouse gas emissions.

The CDP's third report shows a marked increase in awareness of climate change and disclosure of related data among U.S. corporations, some of which are establishing leading positions in the growing markets for low-carbon technologies and solutions.

"Wall Street is waking up to climate change risks and opportunities," said James Cameron, Chairman of the Project.

"Considerably more of the world's largest corporations are getting a handle on what climate change means for their business and what they need to do to capture opportunities and mitigate risks. This all points to a continued elevation of climate change as a critical shareholder value issue for investors."

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