Earth Equity News

Most U.S. Businesses Twiddle Their Thumbs on Climate, Survey Finds. By Timothy Gardner, Reuters, September 21, 2008. "U.S. companies judge climate change a risk to their business, but lag [behind] global companies in setting [emissions] targets... according to [a 2008 survey by the Carbon Disclosure Project, 'an influential initiative backed by 385 institutional investors,' (Grist) due to be released] on Monday. 'We're seeing the U.S. play catch-up here, but they've got a way to go,' [said] Paul Dickinson, chief executive of the CDP... [who] said the gap demonstrates the difference between the climate culture of companies in Europe and the U.S.... About 81% of U.S. companies responding to this year's survey, or about 255 companies, perceived climate change as a risk. Yet only 33%... had reduction targets in place... In contrast, 74% of global companies that responded to the survey have set emissions reduction targets. Only 14% of U.S. oil and gas companies that responded disclosed greenhouse gas emissions reduction targets [and] one... Occidental Petroleum , responded that it 'does not have sufficient information to establish a cost basis for future financial risks since no regulations requiring greenhouse gas emissions controls have been implemented by governments in the areas where Occidental operates.' Dickinson said companies should be spurred by the debt-related financial crisis to determine undiscovered risk and act on it... Some 81% of European companies answered the survey's questions, while 64% of U.S. companies responded."