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Ceres News Feed

Major Investors, State Officials, Environmental Groups Petition SEC to Require Full Corporate Climate Risk Disclosure
Sep 18, 2007
September 18, 2007 – A broad coalition of investors, state officials with regulatory and fiscal management responsibilities, and environmental groups today filed a landmark petition asking the Securities and Exchange Commission (SEC) to require publicly-traded companies to assess and fully disclose their financial risks from climate change. Also today, the coalition formally asked the Commission's Division of Corporation Finance to immediately begin "[c]losely scrutinizing the adequacy of registrants' climate disclosures" under existing law.
Ceres Seeks Submissions for 2007 Sustainability Report Awards
Sep 11, 2007
The Association of Chartered Certified Accountants (ACCA) and Ceres, a US-based coalition of investors and environmental groups, today called for submissions to the sixth annual Ceres-ACCA North American Awards for Sustainability Reporting. The application deadline is Oct. 26 and the winners will be announced in spring 2008.
Exxon Mobil Stalls on Warming (OpEd)
Jul 08, 2007
Shareholders sent a strong message at Exxon Mobil Corp.'s recent annual meeting that they're unhappy with the company's lackluster response to global warming. Spurred by repeated rejections by the company's board to discuss the issue and unimpressed by its new Corporate Citizenship Report, shareholders owning $121 billion of company stock demanded at the spring meeting that the company take climate change seriously and set greenhouse gas reduction goals.
The Future of Oil: Energy Security, Climate Risks and Market Opportunities
Jun 06, 2007
June 2007 - The report from Ceres and the Civil Society Institute highlights key findings from an October 2006 oil analyst briefing at JPMorgan Chase in which Wall Street analysts, institutional investors, and oil industry experts examined how the future of oil will be affected by geopolitics, climate change, and new technologies. The report summarizes the briefing and analyzes several trends that could affect the valuation of oil companies' securities. The report concludes that there are many clean tech investment opportunities that lie ahead as the US government and other governments worldwide move to reduce oil dependence and greenhouse gas emissions.
$900 BILLION OF INSTITUTIONAL INVESTORS PRESSURE EXXONMOBIL ON GLOBAL WARMING
May 23, 2007
May 23, 2007 – Two dozen leading institutional investors are pushing for the removal of ExxonMobil board member Michael Boskin due to the company’s inaction on the serious business risks from climate change.
The Quiet Revolution in Business Reporting
May 06, 2007
May 2007 - This report discusses the limitations of business reporting under today's accounting rules, chronicles the progress made by a variety of disclosure initiatives since the 1990s, and identifies the Global Reporting Initiative as the emerging standard in comprehensive non-financial reporting. The report anticipates a future where comprehensive business disclosure has become a core component of good corporate governance, enabling corporate executives and boards to anticipate new challenges, make effective long-term investments, and respond to the increased complexity of an interdependent global economy.
Vancity and Bristol-Myers Squibb Receive Top Sustainability Reporting Awards at Ceres Conference in Boston
Apr 25, 2007
Vancity Group and Bristol-Myers Squibb received the top sustainability reporting awards today in an international competition hosted by the Boston-based Ceres coalition and the Association of Chartered Certified Accountants (ACCA). The winners, selected from a record 102 nominations, also included Vermont-based Green Mountain Coffee Roasters and Vancouver, B.C.-based Mountain Equipment Co-op. The four winners were announced at the Ceres annual conference today at Boston’s Seaport Hotel, where a report providing guidance to companies on sustainability disclosure was also released.
U.S. Mutual Funds Ignoring Business Risks of Climate Change
Apr 23, 2007
April 23, 2007 – None of the nation’s 100 largest mutual funds voted in 2006 to support shareholder resolutions calling for more corporate disclosure on the financial impacts from global climate change, according to proxy voting data compiled by Institutional Shareholder Services (ISS) for Ceres
CFO Sink: Florida Treasury Joins Investor Network on Climate Risk
Apr 17, 2007
April 17, 2007 – Fresh off the heels of hosting the first in a series of “Conversations on Climate Change,” Florida Chief Financial Officer Alex Sink announced today that as the state treasurer, she will join the Investor Network on Climate Risk (INCR), a national network of investors focused on the business impacts of climate change. CFO Sink is the first Florida-based institutional investor to join the three-year-old organization, which now includes more than 50 public and private institutional investors managing more than $3.7 trillion in assets that focus on the future financial risks and investment opportunities posed by climate change.
U.S. Mutual Funds Critical Missing Link in Supporting Climate Change Shareholder Resolutions
Apr 06, 2007
April 2007 - ese disclosure requirements are designed to show how fund managers are voting to protect shareholder interests and promote companies’ long-term financial performance.
2006 Ceres ACCA Sustainability Reporting Awards Judges Report
Apr 06, 2007
April 2007 - The judges report for the 2006 Ceres-ACCA North American Sustainability Reporting Awards. The winners were announced at the April 2007 Ceres annual conference in Boston, MA.
TXU's Expansion Proposal: A Risk for Investors
Feb 06, 2007
February 2007 - The report concludes that TXU's investors &mdash whether as public shareholders or private investors - will face a multitude of financial risks if the company moves forward with its plans to build 9,000 megawatts of pulverized coal-fired capacity. The report cites construction cost over-runs, burdensome regulatory costs as climate regulations take hold and a slowing of power demand in Texas as state legislators aggressively push energy efficiency and other energy-saving programs.
S&P 500 Companies Faulted For Poor Climate Disclosure
Jan 31, 2007
January 31, 2007 – Despite growing financial losses in various business sectors from climate change, over half of the nation’s 500 largest publicly traded companies are doing a poor job of disclosing climate change risks to their investors, according to a first-ever report analyzing climate disclosure practices among S&P 500 companies last year.
Climate Risk Disclosure by the S&P 500
Jan 06, 2007
January 2007 - This report assesses how S&P 500 corporations from 11 key industries disclose the risks and opportunities they face from climate change. The report finds that over half of the nation's largest companies are providing inadequate disclosure to investors, despite growing financial losses in multiple sectors from climate change.
Power to Save: An Alternative Path to Meet Electric Needs in Texas
Jan 06, 2007
January 2007 - This study finds that a comprehensive effort to promote efficiency and other cost-saving demand reduction measures can meet Texas' electricity needs more reliably, at a lower cost and at a tremendous net economic benefit compared to building a new fleet of expensive and heavily polluting power plants. Over the next 15 years, boosting markets for more efficient products, lighting, cooling, heating and industrial processes can eliminate over 80% of forecast growth in electricity demand, while lowering consumer's energy bills. With additional measures to further reduce electricity demand and enhance reliability, Texas can completely eliminate its "load growth," resulting in a gradual decline in total electricity demand to more than 9% below current levels by 2021.
Shareholders Challenge TXU on New Coal Plants and Energy Efficiency
Dec 08, 2006
December 8, 2006 – Leading institutional investors this week filed shareholders resolutions with the TXU Corp. regarding the company’s plan to build 11 new pulverized coal-burning power plants in Texas at an estimated cost of $10 billion.
Ceres Annual Report: 2005 and Beyond
Dec 06, 2006
December 2006 - By engaging directly with companies, by promoting leading-edge environmental and social disclosure, by leveraging our unique access to investors, Ceres is finding smart, workable solutions to society's most pressing sustainability challenges &mdash not the least among them, global warming.
Questions and Answers for Foundations on Proxy Voting
Nov 06, 2006
November 2006 - A growing number of foundations are taking ownership of their proxies. Investors are looking with increasing favor on shareholder proposals asking companies to disclose potential liabilities related to global warming, issue broad-based reports on sustainability impacts, monitor their political contributions, or report on their fair employment policies. This guide serves as a reference for foundations seeking to ensure their endowments generate income as well as align with their principal mission.
Global Framework for Climate Risk Disclosure
Oct 06, 2006
October 2006 - A unique global partnership of 14 leading institutional investors and other organizations representing trillions in assets today released the Global Framework for Climate Risk Disclosure to provide specific guidance to companies regarding the information they provide to investors on the financial risks posed by climate change.
Guide to Using the Global Framework for Climate Risk Disclosure
Oct 06, 2006
October 2006 - The Guide is a companion tool for using the Framework. For each of the four elements of the Framework, the Guide provides specific guidance for companies about how to disclose using the most common reporting mechanisms for climate risk: securities filings, the Global Reporting Initiative, and the Carbon Disclosure Project. The Guide also contains examples of disclosure from leading companies using these disclosure mechanisms.