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05/07/2008 08:34 AM
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Corporate Reporting on Climate Change Way Up in 1Q08
SustainableBusiness.com News
In the first quarter of this year, climate change has moved front and center on the corporate radar, appearing in disclosure statements filed with the SEC 7,634 times, compared to 1,106 mentions in the first quarter of 2006, according to a Politico report.
It appears that corporate executives are beginning to recognize the threats and opportunities posed by climate change--another indication that the debate over the existence of global warming is effectively over.
Companies are touting their progress in reducing greenhouse gas emissions and warning investors of potential financial risks associated with new regulatory legislation, litigation and competition.
For example, Ford Motor Co. (NYSE: F) warned it its first-quarter filings that it will likely fail to meet emissions reduction targets set by the European Union.
The Southern Co., one of the biggest polluters in the U.S. warned that new climate change legislation would likely hurt the company's bottom line.
This change in the stance of major corporations is due in large part to pressure asserted by investors. In February UN-hosted summit of U.S. and European institutional investors managing over $1.75 trillion pressed the corporate world to fully assess and disclose the risks and opportunities climate change presents for their business operations.
