An interesting report...
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IBM, Tesco and Dell Receive Top Scores in First-Ever Ranking of Consumer & Tech Companies on Climate Change Strategies Nike and Wal-Mart Post Highest Scores in Apparel and Retail Sectors
December 11, 2008 BOSTON - While progress is being made, consumer and technology companies still have more to do in confronting the business challenges posed by climate change, according to a report issued today by the Ceres investor coalition and authored by RiskMetrics Group that analyzes climate change governance practices at 63 of the world's largest retail, pharmaceutical, technology, apparel and other consumer-facing companies.
With millions of customers and massive operations and supply chains, consumer and technology companies face broad impacts from climate change, whether from higher energy costs due to emerging climate regulations or growing global demand for products that use less energy and contribute fewer greenhouse gas (GHG) emissions.
The Ceres report found that select companies in various consumer and technology sectors are responding to the risks and opportunities presented by climate change, primarily by setting GHG emissions reduction targets, boosting energy efficiency efforts, expanding renewable energy purchases and integrating climate factors into product design. But the report found that many other companies are still largely ignoring climate change, especially at the board and CEO level. For example, only 11 of the 63 companies have their boards receive climate-specific updates from management, only seven of the CEOs among these firms have taken leadership roles on climate change initiatives and none of the companies have linked C-suite executive compensation directly to climate-related performance.
The mixed performance was evident in the report's final scores. Using a 100-point scale, the three highest scoring companies were IBM, UK-based grocery retailer Tesco and Dell, with 79, 78 and 77 points, respectively. More than half of the 63 companies scored under 50 points, with a median score of 38 points.
Entire report here: Ceres report
Big Al
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