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Ceres News Feed

New WRI/Ceres Report Highlights Investor Tools for Assessing Climate Risk
Jan 27, 2011
The World Resources Institute (WRI) and Ceres released a report, on June 1st, designed to help investors analyze business risks and regulatory uncertainties associated with global climate change.
Southern Co. Releases Climate Risk Report to Shareholders
Jan 27, 2011
As a result of a shareholder resolution filed with the Southern Co., the Atlanta-based company today released a report analyzing the potential effects of climate change regulations on its operations. Because of Southern's reliance on coal to generate electricity at its power plants, shareholders are concerned that potential future policies restricting greenhouse gas emissions might put their investments at risk.
Pension Fund Leaders, CEOs and Wall Street Investment Managers to Discuss Climate Risks and Opportunities at UN Summit May 10
Jan 27, 2011
Hundreds of institutional investors from around the world, Wall Street leaders, and state treasurers will be meeting Tuesday, May 10, at the United Nations in New York City to discuss how to address the financial risks and realize the opportunities from global climate change.
Investors Call On Power Sector And Wall Street To Focus Attention On Financial Risks From Climate Change
Jan 27, 2011
Citing a new Ceres report about the financial risks electric power companies face from climate change, leading U.S. institutional investors today called on the country's 50 largest investor-owned greenhouse gas emitters in the electric power industry to report within a year how future greenhouse gas limits will affect their financial bottom lines and steps they are taking to reduce those financial impacts and improve their competitive positioning. The investors will be mailing letters to the CEOs of the 50 companies on this issue later this month. (See company list below.)
Nike Inc. Issues 2004 Corporate Responsibility Report Highlighting Stakeholder Engagement and New Levels of Transparency and Disclosure
Jan 27, 2011
Nike, Inc. today issued its second corporate responsibility (CR) report highlighting the Nike brand's CR priorities, programs, progress and challenges relating to workers in contract factories; employees and diversity; the environment; and community investment. In addition, the company became the first in its industry to voluntarily disclose the names and locations of the more than 700 active contract factories that currently make Nike-branded products worldwide. This information, along with its report, is posted on Nike, Inc.'s website atwww.nikeresponsibility.com/reports.
Investors Win Agreement From Ford Motor Co. To Prepare Climate Risk Report
Jan 27, 2011
As a result of a shareholder resolution filed with the Ford Motor Co., the country's second largest automaker today announced it will issue a first-of-its-kind comprehensive report later this year that will examine the business implications of reducing greenhouse gas emissions from the motor vehicles made by Ford as well as the facilities that produce them. The climate risk report will also examine impacts from possible policy and regulatory changes.
Cinergy Corp. Releases Climate Risk Report to Shareholders
Jan 27, 2011
As a result of a shareholder resolution filed with Cinergy Corp., the Ohio-based company today released a report analyzing the potential effects of climate change regulations on its operations. Because of Cinergy's reliance on coal to generate electricity at its nine Midwest power plants, shareholders are concerned that potential future policies restricting greenhouse gas emissions might put their investments at risk.
Influential Leaders Push For Clean Energy, Global Warming Questions In Remaining Presidential Debates
Jan 27, 2011
A wide-ranging group of 22 union, religious, science, state government and former federal officials today petitioned the trustees of the Commission on Presidential Debates - as well as debate moderators Charles Gibson and Bob Schieffer - to "include questions about the candidates' plans for reducing greenhouse gas emissions and promoting clean energy and clean vehicle technologies as urgent matters of both domestic and foreign policy."
Ceres Workshop at Harvard University Educates Pension Fund Trustees on Climate Risk
Jan 27, 2011
The "Sustainability and Risk: Climate Change and Fiduciary Duty for the Twenty-First Century Trustee" workshop at Harvard University's Kennedy School of Government was a huge success. Representatives from the three largest public pension funds in the country, the California Public Employees Retirement System, the New York State Common Retirement Fund, and the California State Teachers' Retirement System, attended. Ceres co-sponsored the event - the first of its kind - with the Corporate Social Responsibility Initiative and the Energy Technology Innovation Project in the Belfer Center for Science & International Affairs at Harvard University's Kennedy School of Government.
New Guide Advises Investors On Addressing Financial Risks And Opportunities From Global Warming
Jan 27, 2011
An investor guide released today outlines specific strategies for addressing the financial risks and investment opportunities posed by global warming. The guide identifies actions that pension plans, fund managers and companies can take to address climate risk,and also recommends that investors support government action to reduce investor and business uncertainty on global warming.
Southern Company, TXU Agree To Report To Shareholders On Preparedness For Greenhouse Gas Limits; Reliant Energy To Expand 10k Disclosure On Issue
Jan 27, 2011
In response to shareholder requests for disclosure on how companies are planning for potential constraints on carbon dioxide and other emissions, electric power giant Southern Company and power company TXU have agreed to report publicly on how they are planning for those scenarios, while Houston-based power provider Reliant Energy has agreed to take steps to improve measurement and disclosure of the financial impact of its emissions.
Global Warming Resolutions at U.S. Oil Companies Bring Policy Commitments from Leaders, and Record High Votes at Laggards
Jan 27, 2011
Faced with shareholder resolutions requesting reports on their preparedness for world constraints on carbon dioxide emissions, U.S. oil and gas companies have taken two distinct directions in response, with two companies making commitments to develop policies on carbon dioxide emissions and one company pledging to reduce emissions, while three more refused the requests and were hit with large percentages of shareholders voting against management on the resolutions last week.
Thirteen Pension Leaders Call on SEC Chairman to Require Global Warming Risks in Corporate Disclosure
Jan 27, 2011
Thirteen major public pension fund leaders - including eight state treasurers and comptrollers, four labor pension fund leaders, and the New York City Comptroller, collectively managing assets of nearly $800 billion- today called on the U.S. Securities & Exchange Commission (SEC) to eliminate any doubt that publicly traded companies should be disclosing the financial risks of global warming in their securities filings.
New Report Benchmarking Air Pollution from Top 100 Electric Companies Shows Carbon Dioxide Pollution Increasing
Jan 27, 2011
A new report rating air pollution emissions performance of America's 100 largest electric power producers reveals important trends in the industry, and sharp contrasts between the best and worst emissions performers. The report shows overall emissions of nitrogen oxide (NOx) and sulfur dioxide (SO2) are dropping, thanks largely to standards created in the Clean Air Act of 1990. Meanwhile emissions of carbon dioxide (CO2), which remain unregulated, are soaring.
Oil And Gas Industry Faces Record Number Of Global Warming Shareholder Resolutions At Wider Range Of Firms
Jan 27, 2011
The oil and gas industry faces a record number of global warming shareholder resolutions in 2004, with an expansion of such proxy measures to smaller independents. State, city, religious and other institutional shareholders have filed 13 resolutions requesting risk disclosure and plans to reduce greenhouse gas emissions with 10 oil and gas companies, 5 of which are facing questions on the issue for the first time. In addition to targeting household names such as ExxonMobil and ChevronTexaco, the shareholders have broadened their concern to smaller, independent exploration and production companies, such as Devon and Apache. These companies, the shareholders say -- which only drill for and produce oil and gas and are not diversified with distribution or retail operations -- are even more vulnerable to regulatory- or market-based limits on carbon dioxide emissions worldwide.
American Electric Power, Cinergy Agree To Report To Shareholders On Responses To Rising Pressure To Reduce Greenhouse Gas, Other Emissions
Jan 27, 2011
In response to shareholder proposals for greater transparency on how companies are planning for potential constraints on carbon dioxide and other emissions, electric power giants American Electric Power and Cinergy have agreed to report publicly about on how they are responding to growing pressure to reduce greenhouse gas and other emissions. The company reports will assess the impacts of and potential responses to a number of policy scenarios, including various proposals in Congress and existing state legislation to limit carbon dioxide and other emissions. Both companies agreed to the shareholders' request that a committee of independent directors oversee the report. As a result, shareholders will withdraw resolutions facing the two companies.
In Follow-Up to Investor Summit on Climate Risk, California Treasurer Launches Environmental Disclosure and Investment Initiative
Jan 27, 2011
California State Treasurer Phil Angelides today launched a landmark initiative to use CA pension funds' clout and considerable assets to demand more disclosure of climate- and other environmental risks from portfolio companies and invest in clean energy technologies to encourage job creation and economic growth in California. He cited the Ceres-led Investor Summit on Climate Risk, held at the United Nations in November, 2003, as part of the impetus for the announcement.
Investor Coalition Finds U.S. Corporations Face Multi-Billion Dollar Risk from Climate Change, Risk Not Adequately Assessed by Boards and Investors
Jan 27, 2011
There is mounting evidence that failure to respond to the risks posed by climate change could result in multi-billion dollar losses for U.S. businesses and investment portfolios, and this failure could represent a breach of fiduciary duty on the part of corporate directors and investment decision-makers, according to a report released today.
Global Warming Heats Up On Wall Street
Jan 27, 2011
In an historic expression of growing alarm at the potential economic costs of global warming to U.S. pension funds, institutional investors representing over $1 trillion in assets will gather with senior representatives of Wall Street fund management firms for a closed- door summit at the United Nations New York headquarters Friday to examine the risks of climate change to their portfolios and determine further action. Key participants will hold an in-person and phone-based media briefing at 1 p.m. to report on actions they may take.
New Belgium Brewing Joins Growing BICEP Business Coalition Advocating Strong Energy, Climate Policies
Jan 26, 2011
January 27, 2011 – New Belgium Brewing, the nation’s third largest craft brewery, today announced it is joining the fast-growing Business for Innovative Climate & Energy Policy (BICEP) coalition, a group of major American businesses pushing for passage of comprehensive energy and climate legislation in the U.S.