In the news this week…Climate change, companies and investors
It’s been a busy week in news, but two items came across my desk that I thought were most interesting. It was announced that 87% of Global FT500 companies addressed climate change in stand alone annual reports while US institutional investors pledge $10 Billion to fight global warming. As these numbers grow in all sectors, but while the economy contracts, what do you think will be the end result? Which will overtake the other? Will we see a growing interest in climate change and sustainabilty as the economy rights itself?
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“During 2007, two-thirds of the Global FT500 issued a stand-alone nonfinancial report with 87 percent addressing climate change and 78 percent publishing greenhouse gas emissions data, according to CorporateRegister.com’s Corporate Climate Communications study.” http://www.environmentalleader.com/2008/02/13/ft500-warms-up-to-releasing-ghg-data/
“U.S. institutional investors pledged to invest $10 billion over two years in technologies that aim to reduce greenhouse gas emissions and to pressure companies to disclose their risks associated with climate change, Reuters reports. Hundreds of investors at the U.N. summit searched for answers on how to put a price on carbon emissions and how to blunt the economic cost of cutting carbon emissions. “As soon as people believe carbon has a price, it’s going to have a price,” said venture capitalist Vinod Khosla.” http://www.environmentalleader.com/2008/02/17/investors-pledge-10-billion-to-fight-global-warming/