Wednesday, February 6, 2008

3000 of World's Largest Corporations to Reveal Their Greenhouse Emissions and Climate Change Practices


--trends + business + politics--

The Carbon Disclosure Project (CDP), has issued a request to some 3,000 of the world's largest corporations to disclose their greenhouse emissions and strategies for addressing climate change in their policies and practices.

The CDP is a collaboration of 385 institutional investors including Merrill Lynch, AXA,ANZ, Banco Brazil, AIG, HSBC, UFJ amongst others, including the seventy new investors that has signed on this year alone. In total the CDP signatories have collective managed assets that equal $57 trillion. The CDP's recent request included a first time request of over 100 of China's largest companies as well corporation in Netherlands, Spain, Latin America, and Korea.

The CDP information request includes a detailed overview of total gas emissions, physical risk/opportunity (e.g changes in operations resulting from shifts in weather patterns), consumer sentiment risk/opportunity (e.g reputation), regulatory risk/opportunity (e.g limits on emissions) as well as specific steps taken to reduce and manage emissions. The responses from these requests are due to be returned within four months and the results and assessments will be published on the CDP website (for free) in September 2008

CDP Chief Executive Office commented on the rise in corporate accountability in regards to climate change efforts, "The momentum behind CDP represents the start of a unified global business response to climate change. The continued growth in investors supporting CDP and requesting the companies they invest in to respond through the CDP system demonstrates that we have entered an era when climate change has become a mainstream issue for both investors and corporations. Investors recognize that corporate engagement with climate change issues is an important indicator of good quality corporate management."

For more information on the CDP, go to charge on the CDP website at www.cdproject.net


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