Climate-Conscious Investor Coalition Widens Net
Source: GreenBiz.com
 

NEW YORK, Feb. 6, 2006 - A group of 211 institutional investors with assets of $31 trillion under management has written to 1,800 of the largest quoted companies in the world by market capitalization, asking for the disclosure of investment-relevant information concerning their greenhouse gas emissions.

This is the fourth iteration of such a request. In this request a larger group of investors have collaborated to ask for this data. Corporations that previously provided responses are invited to report progress, while companies that previously did not respond are requested to do so, or to provide a reason why they do not believe the request is relevant to their business.

The previous three requests were sent to the 500 largest corporations by market capitalization in the world, the Fortune 500. This fourth request has also been sent to the following groups:
 

  • 500 of the largest companies in the U.S. based on market capitalization (S&P 500), in partnership with the Investor Network on Climate Risk (INCR)

     
  • 258 of the largest electric utilities globally based on market capitalisation, in partnership with CalPERS and CalSTRS

     
  • 300 of the largest emitters in Canada, in partnership with the Conference Board of Canada

     
  • 200 of the largest companies in Germany based on market capitalization, in partnership with BVI Bundesverband Investment und Asset Management e.V. (German Investment and Asset Management Association)

     
  • 150 of the largest companies in Japan, selected by and in partnership with the Association for Sustainable and Responsible Investment in Asia (ASrIA) and the CDP Secretariat Japan

     
  • 150 of the largest companies in Australia and New Zealand based on market capitalization (ASX100 & NZ50), in partnership with the Investor Group on Climate Change

     
  • 120 of the largest companies in France based on market capitalization (SBF 120), in partnership with AXA and Agence de l'Environnement et de la Maîtrise de l'Energie (ADEME), the French Governmental Agency for Environment and Energy Efficiency

     
  • 100 of the largest companies in the UK based on market capitalization (FTSE 100), in partnership with the UK Climate Impacts Program

     
  • 50 of the largest companies in Brazil, listed on the BOVESPA Sao Paulo Stock Exchange, in partnership with the Brazilian Association of Pension Funds (ABRAPP) and BANCO ABN AMRO REAL

     
  • 40 of the largest companies in Asia outside of Japan, selected by and in partnership with the Association for Sustainable and Responsible Investment in Asia (ASrIA)
Commenting on the information request, Paul Dickinson, the project coordinator, said:

"The numerous indications of accelerating human induced climate change make it clear that there are business risks and opportunities that have implications for the value of investments in corporations worldwide. Examples include changes in weather patterns; political and regulatory momentum moving against significant carbon emitters; the development of emissions-sensitive technologies, products and services superseding those existing today; and shifts in consumer sentiment due to a corporation's stance on climate change.

This makes it necessary for investors to improve their understanding of climate change risks and opportunities. The data to assess these issues is not always available, sometimes lacks comparability or is of poor quality. The Carbon Disclosure Project aims to encourage the development of a common emissions measurement methodology and to facilitate its integration into general investment analysis. The signatories recognize that companies face pressure to comply with constant demands for information and so have joined in this single call for information to reduce the number of requests."

The recipient corporations have been asked to respond within four months. The information received will be summarized in various reports and these will be distributed to participating institutional investors and companies that respond to the questionnaire. These reports will be made publicly available on the Carbon Disclosure Project Web site from September 2006. All submitted data authorized for publication will also be available from the Web site at this time.

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