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  <item rdf:about="http://www.ceres.org/press/press-releases/new-report-reveals-states-and-utilities-with-highest-and-lowest-power-plant-emissions-overall-u.s.-emissions-decline">
    <title>New Report Reveals States and Utilities with Highest and Lowest Power Plant Emissions; Overall U.S. Emissions Decline</title>
    <link>http://www.ceres.org/press/press-releases/new-report-reveals-states-and-utilities-with-highest-and-lowest-power-plant-emissions-overall-u.s.-emissions-decline</link>
    <description>A new report on U.S. power plant emissions from the top 100 power producers shows that the electric industry cut emissions of NOx, SO2 and CO2 in 2011 even as overall electricity generation increased, largely due to increased use of natural gas and growing reliance on renewable energy.</description>
    <content:encoded xmlns:content="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p>A major new report on U.S. power plant emissions from the top 100 power producers shows that the electric industry cut emissions of NOx, SO<sub>2 </sub>and CO<sub>2</sub> in 2011 even as overall electricity generation increased, largely due to increased use of natural gas and growing reliance on renewable energy.</p>
<p>Based on the latest available data, the report also reveals that Wyoming, Kentucky, West Virginia, Indiana, and North Dakota had the highest CO<sub>2</sub> emissions per megawatt-hour of power produced, while Idaho, Vermont, Washington, Oregon, and Maine had the lowest CO<sub>2</sub> emissions rates. Nationwide, five power producers—American Electric Power, Duke Energy, FirstEnergy, Southern Company, and Tennessee Valley Authority—generate 25 percent of overall electric sector CO<sub>2</sub> emissions, though some of these producers and others have significantly reduced emissions in recent years.</p>
<p>The <a href="../../resources/reports/benchmarking-air-emissions/view"><i>Benchmarking Air Emissions</i></a> report is the ninth in a series highlighting environmental performance and progress in the nation’s electric power sector. Traditionally, the report has been published every two years. However, in light of ongoing changes within the industry, in terms of plant retirements, pollution control retrofits and new emissions regulations under consideration, a streamlined version of the report was prepared this year, based on 2011 generation and emissions data from the Energy Information Administration and the Environmental Protection Agency.</p>
<p>Key findings of the report include:</p>
<ul>
<li><img src="http://www.ceres.org/images/press-release/Chart1.jpg" alt="Chart1.jpg" class="image-right" />In 2011, power plant <b>NOx and SO<sub>2</sub> emissions</b> were 70 percent and 72 percent lower, respectively, than they were in 1990 when Congress passed major amendments to the Clean Air Act. </li>
<li>Since 1990, power plant <b>CO<sub>2</sub> emissions</b> have increased by 20 percent, although CO<sub>2</sub> emissions declined 7 percent from 2008 through 2011.</li>
<li>There is wide variation in CO<sub>2</sub> emission rates across the 50 states, as noted in the report’s new state-by-state emissions summary.  <b>States with the highest CO<sub>2</sub> emission rates were heavily reliant on coal: </b>Wyoming and Kentucky, the states with the highest CO<sub>2</sub> emission rates, relied on coal for 86 and 93 percent of their power generation, respectively. </li>
<li>Coal accounted for 44 percent of the power produced by the 100 largest companies in 2011, followed by natural gas (23 percent), nuclear (22 percent), hydroelectric power (8 percent), non-hydroelectric renewables and other fuel sources (3 and 1 percent, respectively), and oil (less than 0.2 percent). </li>
<li>From 2000 to 2011, natural gas generation increased 69 percent industry-wide, while renewable generation increased 44 percent.  Coal-fired generation dropped 12 percent over the same period.</li>
</ul>
<p><br />“The electric power industry is moving to cleaner sources of energy, demonstrating that cleaner power generation is achievable.  Stronger regulations will reinforce those trends and stimulate further investment in low-carbon, low-risk resources like renewable power and energy efficiency,” said <b>Mindy Lubber, president of Ceres</b>, which sponsored the report with NRDC, Entergy Corporation, Exelon, Pacific Gas and Electric Company, PSEG, Tenaska and Bank of America.  M.J. Bradley &amp; Associates authored the report.</p>
<p>“The Benchmarking Air Emissions report is an important resource for following changes in the U.S. electric power sector,” said <b>Chuck Barlow, Vice President, Environmental Strategy and Policy for Entergy Corporation</b>. “The rise of natural gas is a game-changer for U.S. power plant emissions, as this year’s analysis shows. At Entergy, our focus has long been on providing value to all of our stakeholders while maintaining our commitment to environmentally responsible action.  A diverse generation portfolio helps us get there.”</p>
<p>Each edition of the <i>Benchmarking Air Emissions</i> report analyzes the latest emissions from the 100 largest power producers in the U.S. In 2011, the year covered in this edition of the report, the top 100 power producers together accounted for 86 percent of the electricity produced. The 100 largest power producers emitted approximately 4.1 million tons of SO<sub>2</sub>, 1.7 million tons of NOx, 25 tons of mercury, and 2.1 billion tons of CO<sub>2 </sub>in aggregate during 2011.</p>
<p>Air pollution emissions from power plants, while declining overall, are highly concentrated among a small number of power producers. For example, nearly a quarter of the electric power industry’s SO<sub>2</sub> and CO<sub>2</sub> emissions come from just three and five top producers, respectively, as illustrated in summary slides available for download at <a href="http://www.mjbradley.com/benchmarking-air-emissions">mjbradley.com/benchmarking-air-emissions</a>.</p>
<p style="text-align: center; "><img src="http://www.ceres.org/images/press-release/Chart2.jpg" alt="Chart2.jpg" width="438" class="image-inline" height="200" /></p>
<p>The report also provides company-specific emissions trend information from 2000 through 2011 for the four largest power generators, illustrating the range of approaches that power companies have used to reduce emissions:</p>
<ul>
<li><b>AEP</b> reduced its total SO<sub>2</sub> emissions by 52 percent between 2000 and 2011, from 1.1 million tons to just over half a million tons, primarily by adding scrubbers to approximately 7,900 megawatts of coal-fired generating capacity.</li>
<li><b>Southern Company </b>reduced total SO<sub>2</sub> emissions by 63 percent while increasing overall generation by 8 percent between 2000 and 2011 by bringing online approximately 14,000 megawatts of natural gas-fired capacity during the same period.</li>
<li><b>NextEra Energy</b> added more than 20,000 megawatts of wind, solar, and natural gas-fired generating capacity between 2000 and 2011, and nearly doubled its total power generation, driving down its CO<sub>2</sub> emissions rate from 1,023 to 603 pounds per megawatt hour, a 41 percent improvement. </li>
<li>Among the top 100 power producers, <b>Exelon</b> had the eighth lowest CO<sub>2</sub> emissions rate in 2011, largely due to its large nuclear and renewable energy fleet, as well as its investments in nuclear uprates.  Even with a low level of emissions, Exelon reduced its total CO<sub>2</sub> emissions by 32 percent and its CO<sub>2</sub> emission rate by 40 percent between 2000 and 2011.</li>
<br /> 
</ul>
<p>“Power plants are America’s largest source of global warming pollution. The good news is that their emissions have declined significantly since their peak in 2007, but we still have a long way to go. The Benchmarking Report provides a valuable scorecard, allowing citizens and policymakers to compare the performance of individual companies against others in this critical industry," said <b>Dan Lashof, Program Director of Climate and Clean Air at the Natural Resources Defense Council</b>.</p>
<p>“Today’s report highlights the credit due to policy leaders in New Jersey and at the federal level for adopting policies that have reduced power plant emissions. The progress made in New Jersey can, and should, be a model for policymakers across the country,” <b>said Geraldine Smith, PSEG’s General Environmental Counsel and Managing Director Environmental Policy</b>. “By investing more than $3 billion in our New Jersey power plants since 2005, PSEG has been able to reduce emissions of NOx, SO<sub>2</sub> and mercury by more than 90 percent, while increasing output of electricity. We look forward to participating in future discussions on cost-effective ways to improve air quality in our home state and across the nation.”</p>
<p>The 2013 <i>Benchmarking Air Emissions</i> report’s comparative analysis of emissions data is relevant to policymakers considering regulatory approaches; public interest organizations concerned about public health and consumer costs; and financial analysts and investors assessing company risk exposure as power plant emission limits in the U.S. gain more momentum.</p>
<p>The report is available for download at <a href="http://www.ceres.org">ceres.org</a>, <a href="http://www.nrdc.org">nrdc.org</a>, and <a href="http://www.mjbradley.com/benchmarking-air-emissions">mjbradley.com</a>. In addition to the aggregate corporate emissions data for 2011 provided in this report, plant-specific data for 2011 are now available for download at <a href="http://www.mjbradley.com/benchmarking-air-emissions">mjbradley.com</a>.</p>
<p style="text-align: center; "><img src="http://www.ceres.org/images/press-release/Chart3.jpg" alt="Chart3.jpg" class="image-inline" /></p>
<p><b> </b></p>
<p><b> </b></p>
<p><b>For more information:</b></p>
<p>Brian Bowen, 617-247-0700 x148, <a href="mailto:bowen@ceres.org">bowen@ceres.org</a></p>
<p><b>About Ceres</b></p>
<p>Ceres<b> </b>is an advocate for sustainability leadership. Ceres mobilizes a powerful coalition of investors, companies and public interest groups to accelerate and expand the adoption of sustainable business practices and solutions to build a healthy global economy. Ceres also directs the Investor Network on Climate Risk (INCR), a network of 100 institutional investors with collective assets totaling more than $11 trillion.  For more information, visit <a href="http://www.ceres.org">http://www.ceres.org</a></p>
<p><b>About NRDC</b></p>
<p>The Natural Resources Defense Council (NRDC) is an international nonprofit environmental organization with more than 1.3 million members and online activists. Since 1970, our lawyers, scientists, and other environmental specialists have worked to protect the world's natural resources, public health, and the environment. NRDC has offices in New York City, Washington, D.C., Los Angeles, San Francisco, Chicago, Livingston, Montana, and Beijing.  Visit us at www.nrdc.org and follow us on Twitter @NRDC.</p>
<p><b>About Bank of America</b></p>
<p>Bank of America’s commitment to corporate social responsibility (CSR) is a strategic part of doing business globally. Our CSR efforts guide how we operate in a socially, economically, financially and environmentally responsible way around the world, to deliver for shareholders, customers, clients and employees. Our goal is to help create economically vibrant regions and communities through lending, investing and giving. By partnering with our stakeholders, we create value that empowers individuals and communities to thrive and contributes to the long-term success of our business. We have several core areas of focus for our CSR, including responsible business practices; environmental sustainability; strengthening local communities with a focus on housing, hunger and jobs; investing in global leadership development; and engaging through arts and culture. As part of these efforts, employee volunteers across the company contribute their time, passion and expertise to address issues in communities where they live and work.  Learn more at www.bankofamerica.com/about and follow us on Twitter at @BofA_Community.</p>
<p><b>About Entergy</b> <b>Corporation</b></p>
<p>Entergy Corporation, which celebrates its 100th birthday this year, is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including more than 10,000 megawatts of nuclear power, making it one of the nation’s leading nuclear generators. Entergy delivers electricity to 2.8 million utility customers in Arkansas, Louisiana, Mississippi and Texas.  Entergy has annual revenues of more than $10 billion and approximately 15,000 employees.</p>
<p><b>About Exelon</b></p>
<p>Exelon Corporation (NYSE: EXC) is the nation’s leading competitive energy provider, with 2012 revenues of approximately $23.5 billion. Headquartered in Chicago, Exelon has operations and business activities in 47 states, the District of Columbia and Canada.  Exelon is one of the largest competitive U.S. power generators, with approximately 35,000 megawatts of owned capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 100,000 business and public sector customers and approximately 1 million residential customers. Exelon’s utilities deliver electricity and natural gas to more than 6.6 million customers in central Maryland (BGE), northern Illinois (ComEd) and southeastern Pennsylvania (PECO).</p>
<p><b>About Pacific Gas and Electric Company</b></p>
<p>Pacific Gas and Electric Company, a subsidiary of <a href="http://www.pge-corp.com/">PG&amp;E Corporation</a> (NYSE:PCG), is one of the largest combined natural gas and electric utilities in the United States.  Based in San Francisco, with 20,000 employees, the company delivers some of the nation’s cleanest energy to 15 million people in Northern and Central California. For more information, visit <a href="http://www.pge.com/about/newsroom/">http://www.pge.com/about/newsroom/</a> and <a href="http://www.pgecurrents.com/">www.pgecurrents.com</a>.</p>
<p><b> </b></p>
<p><b>About PSEG</b></p>
<p>Public Service Electric and Gas Company (PSE&amp;G) is New Jersey’s oldest and largest regulated gas and electric delivery utility, serving nearly three-quarters of the state’s population. PSE&amp;G is the winner of the ReliabilityOne Award for superior electric system reliability. PSEG Power is a major unregulated independent power producer in the U.S. with three main subsidiaries: PSEG Fossil, PSEG Nuclear, and PSEG Energy Resources and Trade. PSEG Power operates one of the most balanced portfolios in the country, both in terms of fuel mix and market segment (base load units, load following units and peaking units) and is committed to operational excellence.  PSE&amp;G and PSEG Power are subsidiaries of Public Service Enterprise Group Incorporated (PSEG) (NYSE:PEG), a diversified energy company (<a href="http://www.pseg.com/">www.pseg.com</a>).</p>
<p><b> </b></p>
<p><b>About Tenaska</b></p>
<p>Tenaska, based in Omaha, Neb., is one of the leading independent power producers in the U.S. Tenaska and its affiliates manage operations for approximately 11,000 megawatts (MW) of power generation consisting of 14 power plants, seven of which are owned by Tenaska in partnership with other companies and seven of which are private equity investments managed by affiliate Tenaska Capital Management, LLC. Tenaska’s affiliates operate nine power plants in seven states totaling approximately 6,500 MW of generating capacity. For more information about Tenaska, visit the company’s website at <a href="http://www.tenaska.com/">www.tenaska.com</a>.</p>]]></content:encoded>
    <dc:publisher>No publisher</dc:publisher>
    <dc:creator>Megan Doherty</dc:creator>
    <dc:rights></dc:rights>
    <dc:date>2013-05-15T12:10:00Z</dc:date>
    <dc:type>Press Release</dc:type>
  </item>


  <item rdf:about="http://www.ceres.org/resources/reports/benchmarking-air-emissions">
    <title>Benchmarking Air Emissions</title>
    <link>http://www.ceres.org/resources/reports/benchmarking-air-emissions</link>
    <description>This report analyzes the latest emissions from the 100 largest power producers in the U.S. The report shows that the electric industry cut emissions of NOx, SO2 and CO2 in 2011 even as overall electricity generation increased, largely due to increased use of natural gas and growing reliance on renewable energy.</description>
    <content:encoded xmlns:content="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p>This report analyzes the latest emissions from the 100 largest power producers in the U.S. The report shows that the electric industry cut emissions of NOx, SO2 and CO2 in 2011 even as overall electricity generation increased, largely due to increased use of natural gas and growing reliance on renewable energy.</p>
<p>Based on the latest available data, the report also reveals that Wyoming, Kentucky, West Virginia, Indiana, and North Dakota had the highest CO2 emissions per megawatt-hour of power produced, while Idaho, Vermont, Washington, Oregon, and Maine had the lowest CO2 emissions rates. Nationwide, five power producers—American Electric Power, Duke Energy, FirstEnergy, Southern Company, and Tennessee Valley Authority—generate 25 percent of overall electric sector CO2 emissions, though some of these producers and others have significantly reduced emissions in recent years.</p>
<p>The Benchmarking Air Emissions report is the ninth in a series highlighting environmental performance and progress in the nation’s electric power sector.</p>]]></content:encoded>
    <dc:publisher>No publisher</dc:publisher>
    <dc:creator>Megan Doherty</dc:creator>
    <dc:rights></dc:rights>
    <dc:date>2013-05-15T12:10:00Z</dc:date>
    <dc:type>Resource</dc:type>
  </item>


  <item rdf:about="http://www.ceres.org/press/press-clips/investor-group-proposes-esg-disclosure-rules">
    <title>Investor Group Proposes ESG Disclosure Rules</title>
    <link>http://www.ceres.org/press/press-clips/investor-group-proposes-esg-disclosure-rules</link>
    <description>The Ceres-led Investor Network on Climate Risk has proposed that companies listed on US and global stock exchanges be required to include a series of environmental, social and governance sustainability disclosures in their annual financial filings. </description>
    <content:encoded xmlns:content="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p>The Ceres-led Investor Network on Climate Risk has proposed that  companies listed on US and global stock exchanges be required to include  a series of <a href="http://www.environmentalleader.com/category/environmental-reporting/">environmental, social and governance sustainability disclosures</a> in their annual financial filings.</p>
<p>The group of investors, which includes BlackRock, British Columbia  Investment Management Corporation and the AFL-CIO Office of Investment,  drafted a proposal that calls for companies to disclose an ESG  materiality assessment process, a sustainability table of disclosures  that would map the locations of ESG content in public documents, and ESG  reporting on eight key issues.</p>
<p>The public comment period for the <a href="../../resources/reports/incr-listing-standards-drafting-committee-consultation-paper-proposed-sustainability-disclosure-listing-standard-for-global-stock-exchanges/view">INCR  Listing Standards Drafting Committee Consultation Paper: Proposed  Sustainability Disclosure Listing Standard for Global Stock Exchanges</a> ends May 30.</p>
<p>The investor group, along with NASDAQ OMX, say the consultation paper  is an effort to develop a uniform standard that all stock exchanges can  use.</p>
<p>The final document, once investors have provided feedback, will be  submitted to stock exchanges for review and later for consideration at  the World Federation of Exchanges annual meeting in October.</p>
<p>Earlier this month, both FTSE Group and Thomson Reuters launched ESG-related indices.</p>
<p>The <a href="http://www.environmentalleader.com/2013/05/03/thomson-reuters-launches-esg-indices/">Thomson Reuters Corporate Responsibility Indices</a> were developed jointly with S-Network Global Indexes, a New York-based  specialist index design firm. The firms say unlike the majority of <a href="http://www.environmentalleader.com/tag/ESG/">ESG</a> indices, their indices mirror the performance of major global  benchmarks via companies that have substantially higher ESG ratings than  the weighted average for such indices as the S&amp;P 500 or MSCI EAFE.</p>
<p>FTSE Group’s <a href="http://www.environmentalleader.com/2013/05/01/ftse-launches-environmental-technologies-index/">environmental technologies index</a>,  FTSE ET100, is designed to measure the performance of companies whose  core business is in the development and operation of environmental  technologies.</p>
<p>To qualify, companies must derive at least 50 percent of their business from environmental markets. These include renewable and <a href="http://www.environmentalleader.com/category/cleanenergy/" target="_blank">alternative energy</a>, <a href="http://www.environmentalleader.com/category/energy-efficiency/" target="_blank">energy efficiency</a>, water infrastructure and technology, <a href="http://www.environmentalleader.com/category/waste-management/" target="_blank">waste management</a> and technologies, <a href="http://www.environmentalleader.com/category/pollution/" target="_blank">pollution</a> control and environmental support services, as defined by the FTSE environmental markets classification system.</p>]]></content:encoded>
    <dc:publisher>No publisher</dc:publisher>
    <dc:creator>Megan Doherty</dc:creator>
    <dc:rights></dc:rights>
    <dc:date>2013-05-13T16:26:48Z</dc:date>
    <dc:type>Press Clip</dc:type>
  </item>


  <item rdf:about="http://www.ceres.org/press/press-clips/sustainable-profits-managerial-failure-vs.-visionary-leadership">
    <title>Sustainable Profits: Managerial Failure Vs. Visionary Leadership</title>
    <link>http://www.ceres.org/press/press-clips/sustainable-profits-managerial-failure-vs.-visionary-leadership</link>
    <description>Sustainability advocacy organization Ceres held its annual conference in San Francisco last week, and it was full of thought-provoking presentations and conversations about sustainability and environmental, social, and governance (ESG) opportunities and challenges.</description>
    <content:encoded xmlns:content="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p><i>"Management is doing things right, leadership is doing the right things." -- Peter Drucker</i></p>
<p>Many investors and business leaders are aware of  management guru Peter Drucker, but don't take some of his wise words and  philosophy seriously enough. Our modern age has been plagued by the  rise of far more short-term managers than long-term leaders. We've all  been the poorer for it.</p>
<p>Sustainability advocacy organization Ceres held its  annual conference in San Francisco last week, and it was full of  thought-provoking presentations and conversations about sustainability  and environmental, social, and governance (ESG) opportunities and  challenges.</p>
<p>Skoll Foundation's President and CEO Sally Osberg referenced Drucker's quote above while chatting to <b>Sprint</b> CEO Dan Hesse about the wireless industry and its role in the future, particularly in sustainability.</p>
<p>Let's talk about managing vs. truly <i>leading</i> a company into the future. One thing I'm thinking is the way corporate  managers tend to cut costs and the need for investors to rethink the  definition of reducing costs and adding value.</p>
<p><b>Read between the (top and bottom) lines<br /></b>Investors  look for reducing costs and boosting profits, but, sadly, the most  brutal means to that end enjoy the most positive reinforcement. Have you  ever seen a stock soar because management announced mass layoffs? These  types of events do reduce costs, maybe, but they include non-tangible  value destroyers such as loss of intellectual capital, trampled employee  morale, and deteriorating customer service and product quality.</p>
<p>True leadership supports workers, long-term strong  business, and reducing costs by innovating, not slashing workforces that  managements may have allowed to become too bloated or badly utilized in  the first place. There is no more short-term action than bidding up a  company's shares on a layoff initiative. That's trader pathology, and it  encourages pathological short-term thinking by managements, too.</p>
<p>Strangely, a more positive cost-reduction strategy  rarely excites investors at all, even though it's a far better way to  boost efficiency, lower costs, and avoid damages and liabilities.</p>
<p>Green initiatives are increasingly proving to be  money-saving or even money-making opportunities, as well as value  drivers that are less immediately recognizable. Many major companies are  recognizing the opportunities, whether investors are reading the  writing on the wall or not.</p>
<p><b>Hacking away at waste<br /></b>Dan  Hesse's address to Ceres' audience touched on the company's  industry-leading sustainability initiatives. These initiatives have  generated kudos for Sprint; it ranks No. 3 in the U.S. on <i>Newsweek</i>'s annual list of green companies, and Frost &amp; Sullivan gave it the 2012 North American Award for Green Excellence for 2012.</p>
<p>This isn't just award-winning, feel-good fluff, though. Sprint's  efforts feed positively into its business. Since 2007, Sprint has  realized upward of $60 million in savings from eco-friendly initiatives.  Having reduced its packaging size by 60%, more products fit on planes  and trucks. A <a href="http://www.sprint.com/responsibility/ouroperations/downloads/EvolutionOfGreenPkg_WhitePaper.pdf">recent white paper</a> spells out Sprint's work on packaging efficiency and waste reduction.</p>
<p>Take Sprint's unique eco-envelope, which allows  customers to receive and remit their bills in one handy, reusable  envelope. That smart envelope saved an estimated 700 tons of paper in  just under a year.</p>
<p>Sprint's industry-leading mobile phone buyback  program is also a win-win. Spring will take back handsets back from  customers, including those from other carriers, and by paying those  trading them in, it incentivizes consumers not to throw them into  landfills. Sprint then refurbishes or remanufactures, so it can offer  lower-cost phones to consumers as pre-owned, certified devices.</p>
<p><b>Positive practice makes perfect<br /></b>Although  Hesse did discuss lower bills attributed to cutting energy, water, and  paper usage, he also pointed out sustainability's strong intangible  assets that build over time. Such initiatives make employees feel good  about working for Sprint. When recruiting on college campuses, young  people get jazzed by the idea of working for a green company. It's a  talent attractor.</p>
<p>Meanwhile, Sprint is not the only company that  discusses the bottom-line benefits of sustainability, whether they're  tangible or not.</p>
<p>One of Ceres' panels on water usage included <b>Molson Coors'</b> Michael Glade, who pointed out a factor investors might miss. The  company's efforts to "demonstrate positive practice," as Glade put it,  have improved its water usage. Better water, energy, and waste practices  stacked up to $10 million in savings for the beer manufacturer since  2008, and will represent another $16 million in savings through 2012.  That's another example of sustainability's bottom-line boosting  capabilities that accompany the feel-good component.</p>
<p>"Demonstrating positive practice" was one of the  themes at the conference. For example, Hesse also discussed the ability  to influence the competition by leading the pack.</p>
<p>For example of moves by another industry player, several weeks ago, <b>Verizon</b> <a class="qs-source-iwlsitbut0000010 qsAdd addToWatchListIcon" href="http://my.fool.com/watchlist/add?ticker=VZ&source=iwlsitbut0000010" title="Add VZ to My Watchlist"></a>announced big plans of its own. It will invest $100 million in solar panels and fuel cells provided by <b>SunPower</b> and ClearEdge Power, respectively. These will represent up to 70  million kilowatt hours of electricity, the equivalent of the power  needed for 6,000 homes per year. Verizon also said it will cut its  carbon emissions footprint by 50% by 2020. Its increasing initiatives  are expected to significantly reduce fuel and energy costs, as well as  green up its operations.</p>
<p><b>Look for leaders<br /></b>More companies  are evolving, going green, and investing in long-term initiatives that  will cut costs, create value, and go easier on the planet and endangered  resources. Hopefully, more investors will realize that short-term  "solutions" like layoffs are, for the most part, resulting from bad  decisions, if not complete managerial failures.</p>
<p>We're still in the first innings of the  sustainability megatrend, and as more and more corporations embark on  these initiatives, more and more will engage in "good competition,"  which is good for all of us. Competing to do the -- right -- things,  instead of the damaging ones, would put our investments -- and our world  -- in much better positions for the future.</p>
<p>Leaders indeed do the right thing, even if it's  going to take a while. That takes vision and courage. Are your  companies' managers up to the challenge? Your investment returns really  could suffer if they aren't.</p>]]></content:encoded>
    <dc:publisher>No publisher</dc:publisher>
    <dc:creator>Megan Doherty</dc:creator>
    <dc:rights></dc:rights>
    <dc:date>2013-05-13T13:55:00Z</dc:date>
    <dc:type>Press Clip</dc:type>
  </item>


  <item rdf:about="http://www.ceres.org/press/press-releases/comment-period-extended-to-may-30-on-proposed-sustainability-listing-standard-for-global-stock-exchanges">
    <title>Comment Period Extended to May 30 on Proposed Sustainability Listing Standard for Global Stock Exchanges</title>
    <link>http://www.ceres.org/press/press-releases/comment-period-extended-to-may-30-on-proposed-sustainability-listing-standard-for-global-stock-exchanges</link>
    <description>Due to strong investor interest and requests for additional time, the comment period for the INCR Listing Standards Paper has been extended until May 30.</description>
    <content:encoded xmlns:content="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p>Due to strong investor interest and numerous requests for additional time, the comment period has been extended for the<i> INCR Listing Standards Drafting Committee Consultation Paper: Proposed Sustainability Disclosure Listing Standard for Global Stock Exchanges. </i>Investors now have<i> </i>until May 30 to review the paper and comment on its recommendations<i> </i>for integrating environmental, social and governance (ESG) disclosure requirements into listing rules for U.S. and global stock exchanges.</p>
<p>After a series of investor forums in May to incorporate key feedback, a final document will be submitted first to stock exchanges for review and subsequently for consideration at the World Federation of Exchanges annual meeting in October.</p>
<p>The Consultation Paper, developed by nearly a dozen members of the Ceres-led Investor Network on Climate Risk (INCR), calls for the following disclosures by companies as part of a sustainability listing standard: an ESG materiality assessment process; a sustainability table of disclosures that would map the locations of ESG content in public documents; and ESG reporting on eight key issue areas.</p>
<p>To view the Consultation Paper, the supporting Appendices and comments received, visit: <a href="../../investor-network/incr/sustainable-stock-exchanges">http://www.ceres.org/investor-network/incr/sustainable-stock-exchanges</a>.</p>
<p><strong>About Ceres and INCR</strong></p>
<p><strong>Ceres </strong>is a nonprofit organization mobilizing business and investor leadership on sustainability challenges such as global climate change. Ceres directs the Investor Network on Climate Risk (INCR), a network of over 100 institutional investors with collective assets totaling more than $11 trillion.</p>]]></content:encoded>
    <dc:publisher>No publisher</dc:publisher>
    <dc:creator>Megan Doherty</dc:creator>
    <dc:rights></dc:rights>
    <dc:date>2013-05-10T12:15:00Z</dc:date>
    <dc:type>Press Release</dc:type>
  </item>


  <item rdf:about="http://www.ceres.org/press/press-clips/gisr-launches-principles-for-rating-the-raters">
    <title>GISR launches principles for rating the raters</title>
    <link>http://www.ceres.org/press/press-clips/gisr-launches-principles-for-rating-the-raters</link>
    <description>Currently, more than 100 sustainability ratings, ranking and indices evaluate the performance of more than 10,000 companies, using more than 2,000 different indicators. The idea that this cacophony could be harmonized has long been an unattainable dream for companies.</description>
    <content:encoded xmlns:content="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p>The proliferation of corporate sustainability ratings, rankings, and  indices is an old story. For years, just about everyone has griped about  the sheer volume of such things, and the time, resources, and attention  companies must spend on them. Currently, more than 100 sustainability  ratings, ranking and indices evaluate the performance of more than  10,000 companies, using more than 2,000 different indicators.</p>
<p>The idea that this cacophony could be harmonized — never mind quieted  — has long been an unattainable dream for companies. This week, that  dream moves one small step toward reality.</p>
<p>The nearly two years, a nonprofit called <a href="http://www.ratesustainability.org">GISR</a> — the Global Initiative for Sustainability Ratings — has been working  to create a standard for company-level sustainability ratings. It is  doing this, it says, “to accelerate the integration of environmental,  social and governance (ESG) issues and indicators in investment  decision-making” by “building a new standard that equips investors,  companies and other stakeholders with the tools to recognize true  excellence in corporate sustainability.”</p>
<p>That is, to get Wall Street and its counterparts around the world singing from the same hymnal on sustainability.</p>
<p>GISR does not intend to rate companies on sustainability. Instead, it  will accredit other sustainability ratings, rankings or indices that  new to its principles, issues and indicators.</p>
<p>GISR, like the <a href="http://www.globalreporting.org">Global Reporting Initiative</a> and <a href="http://www.ceres.org">Ceres</a>,  take an investor-centric perspective, with eye on how shareholder  interest can move management and markets. Indeed, all three  organizations are linked to the <a href="http://www.tellus.org">Tellus Institute</a>,  a Boston-based nonprofit research and policy organization. GISR is a  joint program of Ceres and Tellus, as was GRI, which the two groups spun  off as a separate organization, now based in Amsterdam.</p>
<p>At the center of both GRI and GISR is <a href="http://www.tellus.org/about/White.html">Allen White</a>, vice  president and senior fellow at Tellus, who directs the institute’s  program on "corporate redesign." White is credited with co-founding GRI  and served as its acting CEO until 2002. In 2004, he co-founded and now  directs of <a href="http://www.corporation2020.org">Corporation 2020</a>, an initiative focused on “designing future corporations to create and sustain social mission.”</p>
<p>This week, at the Ceres conference in San Francisco, White and Mark  Tulay, the GISR program manager (and former program director at Ceres)  are unveiling GISR’s first major initiative: a beta version of GISR’s 12  principles, the core attributes of a ratings framework required to  achieve credibility among key stakeholders. The principles are the first  step in a multi-year process of building an accreditation process that  ratings organizations can begin to use.</p>
<p>This week, GISR also will announce that UPS and McDonald’s have  committed to participate in its Supporting Stakeholder program. They  join other companies that already are playing an active role in GISR's  standard development process, including Bloomberg, Deloitte, Intel, Pax  World, TIAA-CREF, and UBS.</p>
<h4>Relief from survey fatigue</h4>
<p>The ratings system GISR envisions could be a boon to companies  suffering from survey fatigue from the dozens of organizations currently  rating companies, both multi-issue ratings organizations — such as Dow  Jones/SAM, FTSE, MSCI, Oekom, Sustainalytics, Thomson Reuters, and Vigeo  — and issue-specific raters — CDP, Climate Counts, Newsweek, Oxfam,  Trucost and many others.</p>
<p>According to White, early company response to GISR has been largely  positive. “We haven’t had almost a single negative comment or  skepticism,” White told me last week. “Ratings are a fact of life for  CEOs, who have to get up in the morning and see that they’ve been shoved  off the <a href="http://www.sustainability-indices.com">Dow Jones Sustainability Index</a> or dropped down from the <a href="http://iris.thegiin.org">Iris score</a> or some other scorecard, and they don’t like it.”</p>
<p>On the other hand, says White, “They feel disempowered because they  are the rated entity. They’re asked to fill surveys out, sometimes  dozens of surveys every year. And then the scores are published via <a href="http://www.thedailybeast.com/newsweek/features/2012/newsweek-green-rankings.html">Newsweek</a> or <a href="http://www.global100.org">Corporate Knights</a> or others. The outcomes can be wildly volatile: on a list one year, off  the next year; a leader by one rater in the same year, a laggered by  another rater in the same year.”</p>
<p>Moreover, he says, companies’ ability to seek recourse for erroneous  data or misperceptions can be challenging. “More than occasionally  they’ll be met with a black box. They’ll be told that ‘This is  intellectual property and we can’t disclose of any of it,’ or in some  cases, ‘We can disclose, but it’ll cost you.’”</p>
<p>“Every single company that we’ve spoken to said there’s extreme  volatility in these ratings outcomes, coupled with too many surveys and  too many indicators,” says Tulay. “They also express concerns about how  to engage with these raters. Sometimes there’s a fee associated with  getting information on why a company achieved a certain score.”</p>
<p>GISR's principles aim to address such challenges. For example, one  them, “Value Chain,” states that “a rating should apply to all portions  of a rated company’s value chain over which the company exercises  control or significant influence.” The principle  "Transparency" states  that “A rating should be transparent to those whose decisions are  affected by the application of such rating.” (All 12 principles can be  viewed at the end of this article.)</p>
<p>Some of this may seem like common sense, but creating such principles  isn’t easy. Take Transparency. There’s a natural tension between  raters, who want to maintain their intellectual property, and the rated,  who want visibility into what’s behind the ratings. Or  Comprehensiveness: While ratings systems themselves need not be  comprehensive — many look at just one issue, like greenhouse gas  emissions — they need to be comprehensive in the way they look at  things.</p>
<h4>50 shades of green?</h4>
<p>For example, White explains, “If you’re rated on carbon emissions and  all that the carbon rater does is to say your emissions went up or your  down, or are more or less per dollar of revenue than some other  company, that’s actually a very narrowly defined concept of disclosure  of carbon emission. There are many, many ways to reduce carbon, some of  which have very favorable or positive effects on society, on the  economy, on communities, on labor practices relative to others. What  about all the aspects of those impacts, positive and negative, quite  apart from the absolute up and down numbers?” GISR will require that  raters address such issues.</p>
<p>GISR joins an emerging ecosystem of players working to provide  investors and others with reliable information on companies’  sustainability performance. It includes</p>
<ul>
<li> <a href="http://www.sasb.org"><b>SASB</b></a>, which is  establishing a methodology for understanding of material sustainability  issues facing industries and creating sustainability accounting  standards suitable for reporting and disclosure.</li>
<li> <a href="http://www.globalreporting.org"><b>GRI</b></a>, which established a framework for how companies should report their sustainability information.</li>
<li> <a href="http://www.theiirc.org"><b>IIRC</b></a>, which is promoting integrated reporting of both sustainability and financial data</li>
</ul>
<p>While each of these organizations has a distinct mission and  methodology, they share the goal of elevating sustainability among  investors by creating a set of relevant tools for measuring, reporting  and comparing companies’ sustainability performance. The theory is that  once this is possible, investors will reward leaders and punish  laggards, moving companies further and faster than regulations and other  policy mechanisms.</p>
<p>This week’s release of the 12 principles will precede a public  comment period during June and July, followed by the creation of a  public registry of sustainability ratings, including the indicators used  by each, eventually contained in a searchable database. After that,  GISR will produce a guide for asset managers and asset owners to use to  assess the suitability of different sustainability ratings for their  purposes. GISR also plans to look into developing a sustainability  questionnaire app “to help companies address survey fatigue by  automating the information pipeline of sustainability information with  raters.”</p>
<p>A number of sustainability executives are no doubt panting expectantly right about now.</p>
<p>GISR, for its part, isn’t short of high expectations. I asked White  where he sees his organization’s impact five years from now. “Our big  vision is that we are a major market mover, equivalent to the way  financial ratings have an enormous impact on who raises capital, at what  cost, and who gets boxed out of the market because of poor credit  standings.”</p>
<p>Will companies eventually be boxed out of markets because of poor  sustainability ratings? It’s a pipe dream, at least for now. But if  corporate sustainability performance can’t eventually affect markets,  the idea of companies collectively moving the needle on sustainability  issues is essentially a pipe dream, too.</p>
<h4>The 12 GISR Principles</h4>
<ol>
<li> <b>Balance</b>: A rating should utilize a mix of sources,  issues and indicators that depict both past performance of the company  in relation to internally and externally defined targets as well as  prospects of future performance based on leading and forward-looking  indicators.</li>
<li> <b>Comparability</b>: A rating should allow users to compare  performance of the same company over time, and different companies in  the same industry within the same period.</li>
<li> <b>Comprehensiveness</b>: Rating the sustainability performance of a company is a multi-dimensional concept that encompasses impacts on of <span>all forms of capital, including human, intellectual, natural and social.</span></li>
<li> <b>Sustainability Context</b>: A rating should assess  performance within the wider context of the company’s impacts at various  geographic scales, incorporating scientifically based and/or  widely-accepted normative thresholds and limits, applicable to such  impacts.</li>
<li> <b>Long-term Horizon</b>: By definition, sustainability can  only be measured using a long-term perspective. A rating should enable  the evaluation of the long-term prospects of the rated company while  simultaneously providing insights into short- and medium-term outcomes  that lie on the critical path toward positive long-term outcomes.</li>
<li> <b>Materiality</b>: A rating should assess performance based  on sustainability issues and indicators relevant to the decision-making  of investors, and companies, consumers and other stakeholders for which  a rating is designed.</li>
<li> <b>Value Chain</b>: A rating should apply to all portions of  a rated company’s value chain over which the company exercises control  or significant influence.</li>
<li> <b>Assurability</b>: A rating should be designed to allow  for independent, third-party assurance of its application in accordance  with the GISR standard by qualified parties.</li>
<li> <b>Continuous Improvement</b>: Through periodic update, a  rating should track and integrate the best-available science and  measurement techniques, issues, and indicators.</li>
<li> <b>Impartiality</b>: The design and application of a rating,  whose primary users are external to the rated organization, should be  protected from undue influence by the rated company.</li>
<li> <b>Inclusiveness</b>: Development and stewardship of a  rating should identify and systematically engage those stakeholders  whose decisions are influenced by the application of the rating.</li>
<li> <b>Transparency</b>: A rating should be transparent to those whose decisions are affected by the application of such rating.</li>
</ol>]]></content:encoded>
    <dc:publisher>No publisher</dc:publisher>
    <dc:creator>Megan Doherty</dc:creator>
    <dc:rights></dc:rights>
    <dc:date>2013-05-09T13:45:05Z</dc:date>
    <dc:type>Press Clip</dc:type>
  </item>


  <item rdf:about="http://www.ceres.org/press/press-clips/heeding-sandy2019s-lessons-before-the-next-big-storm">
    <title>Heeding Sandy’s Lessons, Before the Next Big Storm</title>
    <link>http://www.ceres.org/press/press-clips/heeding-sandy2019s-lessons-before-the-next-big-storm</link>
    <description>It has been six months since Hurricane Sandy redrew the northern Mid-Atlantic coastline with its record storm surge and strong winds, paralyzing New York City for days, all the while offering a disturbing preview of what future storms may do to other coastal locations as sea levels continue to rise.</description>
    <content:encoded xmlns:content="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p>It has been six months since <a href="http://www.climatecentral.org/news/ongoing-coverage-of-historic-hurricane-sandy-15184" target="_blank">Hurricane Sandy</a> redrew the northern Mid-Atlantic coastline with its record storm surge  and strong winds, paralyzing New York City for days, all the while  offering a disturbing preview of what future storms may do to other  coastal locations as sea levels continue to rise. The storm killed 159,  caused upwards of $70 billion in damage, and led to the <a href="http://www.climatecentral.org/news/11-billion-gallons-of-sewage-overflow-from-hurricane-sandy-15924" target="_blank">release of nearly 11 billion gallons</a> of untreated and partially treated sewage into Mid-Atlantic waterways,  enough to cover all of New York’s Central Park 41 feet deep.</p>
<p>There are myriad lessons that have emerged from the storm, but here are four key issues deserving of special attention.</p>
<p><span class="imgleft"><img src="http://www.climatecentral.org/images/sized/images/uploads/news/10_30_12_andrew_PATHflood-475x434.jpg" width="403" height="368" /> <br /><span class="discreet">Floodwaters pour into the Hoboken PATH Station in  Hoboken, N.J., near the time of high tide on Oct. 29, 2012, as Hurricane  Sandy made landfall.<br /> Credit: The Port Authority of New York and New Jersey.</span> </span></p>
<p><span class="imgleft"> </span></p>
<p>First and foremost, Sandy drove home the need to rethink coastal  development practices that encourage growth in vulnerable areas. Second,  the storm, which was <a href="http://www.climatecentral.org/news/federal-officials-warn-of-hurricane-sandys-rare-damage-potential-15170" target="_blank">forecasted well in advance</a>, proved the value of a robust weather and climate forecasting infrastructure at a <a href="http://www.climatecentral.org/news/sequester-has-big-repercussions-for-weather-climate-programs-15661" target="_blank">time of budget austerity</a>.  Third, Sandy revealed a disconnect between the weather community,  emergency management officials, and the public when it comes to warnings  about an unusually complicated severe weather hazard.</p>
<p>Finally, while <a href="http://www.climatecentral.org/news/how-global-warming-made-hurricane-sandy-worse-15190" target="_blank">direct links between the storm and climate change</a> are difficult to discern, it should be seen as ushering in a new era of  consequences for coastal areas due to the combination of long-term,  global warming-related sea level rise and storm surges from hurricanes,  Nor’easters, and other storms.</p>
<h3>Lesson 1: Rethink Coastal Development</h3>
<p>Hurricane Sandy delivered a clear message that the relentless pursuit  of coastal development needs to be rethought. According to the <a href="http://stateofthecoast.noaa.gov/" target="_blank">National Oceanic and Atmospheric Administration</a> (NOAA), 39 percent of the U.S. population lives in counties directly on  the shoreline, and if current population trends continue, that coastal  population will grow to nearly 134 million from 122 million by 2020.</p>
<p>In Sandy’s wake, federal flood insurance policies that subsidize growth  in vulnerable areas are being re-evaluated, as are state and local  regulations that have inadvertently put people in harms’ way. One  federally funded program in New York is allowing the government to buy  out homeowners who have damaged property in the most prone locations,  rather than encouraging them to rebuild.</p>
<p>But as the <a href="http://www.nytimes.com/2013/04/27/nyregion/new-yorks-storm-recovery-plan-gets-federal-approval.html" target="_blank">New York Times reported</a> on April 26, that program is being met with mixed success, as many storm victims are choosing to rebuild rather than move.</p>
<p>New York Gov. Andrew Cuomo (D) has repeatedly emphasized the need to  redevelop the state’s coastline in a smarter, more storm-resistant way.  “We can never make up for the hardship that people went through,” he  said at an April news conference, “but we can use this as a learning and  an improving opportunity.”</p>
<p><span class="imgright"> <img src="http://www.climatecentral.org/images/sized/images/uploads/news/10_31_12_andrew_mantaloking_bridge_NJNG-Scott_Anema-475x317.jpeg" width="475" height="317" /><br /><span class="discreet">Coastal flooding in Mantoloking, N.J., as taken from a New Jersey Air National Guard Helicopter. Credit: NJNG/Scott Anema. </span></span></p>
<p>Cuomo’s message, though, has not done much to change the status quo.  Policy makers have not come anywhere close to settling on a broader plan  to protect New York City from another damaging storm-surge event.  Projects, such as <a href="http://www.pbs.org/wgbh/nova/tech/storm-surges-cities.html" target="_blank">building a surge barrier</a> at the entrance to the harbor, for example, largely remain at the drawing-board stage.</p>
<p>“There has been much more talk than action in rethinking coastal  development. Many landowners have chosen to rebuild in place, meaning  they’re willing to take the risk of another Sandy,” said Michael  Gerrard, a law professor who directs <a href="http://web.law.columbia.edu/climate-change" target="_blank">Columbia University’s Center for Climate Change Law</a>.</p>
<p>“Few, if any, firm rules have been issued by any agency,” Gerrard said.  “No announcements have been made of major changes in the siting of  infrastructure. We seem to be witnessing, for the most part, a  continuation of business as usual, with a twinge of anxiety and a lot of  meetings.”</p>
<p>For the insurance industry, Hurricane Sandy was another example of the  rising costs of natural disasters, and a warning of the coming  consequences due to sea level rise and extreme weather events. According  to the reinsurance company Swiss Re, <a href="http://www.climatecentral.org/news/us-dominated-global-disaster-losses-in-2012-insurer-reports-15814" target="_blank">Hurricane Sandy cost at least $70 billion in total damage</a>, with $35 billion in insured losses.</p>
<p>“Hurricane Sandy was a wake-up call that our coastlines are  increasingly vulnerable to storm surges from rising sea levels.  Low-lying coastal areas with dense concentrations of property may no  longer be suitable for building and rebuilding. Difficult decisions will  need to be made,” said Cynthia McHale, who directs the insurance  program at <a href="http://www.ceres.org/" target="_blank">Ceres</a>,  which is a national coalition of investors and environmental  organizations focused on sustainability. She said insurers are raising  rates in coastal locations, while pushing for governmental action to  reduce the risk of more damaging events.</p>
<p>“We have a choice: to either gamble on bigger long-term risks or  preemptively invest to make vulnerable coastal cities more climate  resilient, thereby making today’s at-risk areas more insurable,” McHale  said.</p>
<h3>Lesson 2: Invest in Weather and Climate Infrastructure</h3>
<p>For weather  forecasters, Hurricane Sandy was largely a success story, as advances in  remote sensing and computer-modeling techniques enabled meteorologists  to accurately predict the storm’s path nearly one week in advance.  Crucially, <a href="https://www.climatecentral.org/news/storms-highlight-flaws-in-us-weather-forecasting-model-15744" target="_blank">computer models</a> — particularly a model developed by the <a href="http://www.ecmwf.int/" target="_blank">European Center for Medium Range Weather Forecasts</a> — foresaw  the westward turn that Sandy took after moving parallel to the East  Coast. That left hook brought the storm into the Mid-Atlantic states at a  perpendicular angle, which put areas along and to the north of the  storm’s center — all of New Jersey north of Atlantic City as well as southeastern New England — in the area of the strongest winds and highest seas, thereby maximizing the storm surge there.</p>
<p><span class="imgleft"> <a class="box" href="http://www.climatecentral.org/images/uploads/news/1_24_13_news_andrew_sandytracks.jpg"> <img src="http://www.climatecentral.org/images/sized/images/uploads/news/1_24_13_news_andrew_sandytracks-475x428.jpg" width="475" height="427" /><br /></a><span class="discreet">Historical tracks of tropical storms and hurricanes in  the Mid-Atlantic and Northeast, with Hurricane Sandy's track indicated.<br />Credit: NOAA via Bob Henson, UCAR. </span></span></p>
<p>As researchers have since shown, Sandy’s track <a href="http://www.climatecentral.org/news/hurricane-sandy-unprecedented-in-historical-record-study-says-15505" target="_blank">was likely unprecedented</a> compared to the historical records of tropical storms and hurricanes in the region.</p>
<p>The storm clearly demonstrated the value of weather monitoring and  forecasting technology, and the need to continue to invest in both,  which has been an uphill fight on Capitol Hill, given the <a href="http://www.climatecentral.org/news/noaa-head-weather-forecasts-at-risk-over-budget-cuts-15621" target="_blank">recent emphasis on budget cuts</a>.</p>
<p>“I think Sandy helped with identifying for the public how crucial a  national federal infrastructure is for these scale events,” said  Marshall Shepherd, a meteorology professor at the University of Georgia  and the current president of the <a href="http://www.ametsoc.org" target="_blank">American Meteorological Society</a>. “Sandy was not owned by one jurisdiction and required a coordinated federal response.”</p>
<p>NOAA officials have <a href="http://www.climatecentral.org/news/sans-polar-satellites-hurricane-sandy-forecasts-would-have-suffered-15347" target="_blank">repeatedly cited Sandy in their lobbying push</a> for continued funding for the next-generation of polar-orbiting  satellites, telling Congress and the public that forecasts would be far  less accurate if just one satellite were to go dark.</p>
<h3>Lesson 3: Learn from Communications Failures</h3>
<p>While forecasters succeeded in accurately predicting the path and  impacts of the storm, there were flaws in how the threat was  communicated to the public. For starters, <a href="http://www.climatecentral.org/news/lack-of-hurricane-warning-for-sandy-may-help-homeowners-15198" target="_blank">there were no hurricane watches or warnings issued</a> north of the North Carolina coastline, since the National Hurricane  Center in Miami, Fla., feared that confusion might result if they were  to issue such warnings only to drop them once the storm transitioned  from a purely tropical one to a “post-tropical” storm system, which it  did on Oct. 29, 2012, shortly before landfall. In such a scenario, the  public might wrongly think the danger had passed, NOAA officials said.</p>
<p><span class="imgleft"> <img src="http://www.climatecentral.org/images/sized/images/uploads/news/10_28_12_andrew_GFShurricanesandywindfield-475x357.jpg" width="475" height="356" /><br /><span class="discreet">A computer model projection made on Oct. 28, for sea  level pressure and winds a few thousand feet above the surface on Oct.  30, as Hurricane Sandy crosses the New Jersey coastline. Credit: Weatherbell.com. </span></span></p>
<p>During Sandy, the National Weather Service was operating under a set of rules — <a href="http://www.climatecentral.org/news/in-wake-of-sandy-noaa-changes-hurricane-warning-policy-15829" target="_blank">since changed</a> — that restricted their ability to leave hurricane warnings in effect  after a hurricane transitions into a post-tropical storm. According to  the new guidelines, drawn up in Sandy’s wake, forecasters will have the  option of continuing tropical storm and hurricane warnings after a storm  makes the post-tropical transition.  It is not clear yet to what extent  the lack of hurricane warnings played in evacuation decisions, but some  have speculated that it may have contributed to New York Mayor Michael  Bloomberg’s decision to hold off on evacuation orders until just 24  hours in advance, which likely limited the number of evacuees.</p>
<p>Another communications challenge concerned the strength of the storm. Since Hurricane Sandy was a Category 1 storm on the <a href="http://www.aoml.noaa.gov/general/lib/laescae.html" target="_blank">Saffir-Simpson scale</a> as it approached the Mid-Atlantic states, some may have dismissed it as  a minor threat along the lines of Tropical Storm Irene, which hit in  2011 and caused comparatively minor damage in New Jersey and New York.</p>
<p>The Saffir-Simpson scale does not take into account a storm’s size or  its potential storm surge, making it an incomplete indicator of a  storm’s damage potential. A large Category 1 or 2 storm like Sandy can  cause just as much coastal devastation as a small Category 3 storm, for  example. Furthermore, sea level rise means that any storm, be it a weak  or major hurricane, may be more damaging than a similar storm occurring  several decades ago. Discussions are underway to try to communicate a  more complete spectrum of storm threats, rather than having forecasters  continue to stress the category designation alone.</p>
<p>One alternative to the Saffir-Simpson scale would provide some of the  information that the public currently lacks — a measure of how a storm’s  size may contribute to its damage potential. This metric, known as “<a href="http://www.aoml.noaa.gov/hrd/ike/" target="_blank">Integrated Kinetic Energy</a>”  or IKE, takes a storm’s size as well as the strength of its winds into  account. Hurricane Sandy was the largest hurricane on record, as  measured by the diameter of its wind field. Because of its large size,  it set a huge expanse of Atlantic Ocean water into motion, ultimately <a href="http://www.climatecentral.org/news/32-foot-wave-from-hurricane-sandy-topples-records-noaa-finds-15241" target="_blank">building seas to unprecedented heights</a> at the entrance to New York Harbor .</p>
<p>The Integrated Kinetic Energy calculation was more than 300 terajoules  for Hurricane Sandy, which was the largest IKE measurement for any  hurricane between 1990 and 2006, which makes it larger than the IKE  figure for Hurricane Katrina, which struck the Gulf Coast in 2005.</p>
<p>“If the public was aware that this number was so high, which is an  indication of the large potential for damage from storm surge and waves,  some of them might have been able to make better life- and  property-saving decisions,” said  Vasu Misra, an associate professor of  meteorology at Florida State University, in a press release.</p>
<h3>Lesson 4: Get Used to the Age of Consequences</h3>
<p>For some, Hurricane Sandy became the new poster event of global  warming. While attributing certain characteristics of the storm — such  as its record size — to global warming is difficult, if not impossible  at this time, it is clear that <a href="http://www.climatecentral.org/news/how-global-warming-made-hurricane-sandy-worse-15190" target="_blank">global warming exacerbated the damage</a> by helping to boost sea levels in the affected areas.</p>
<p><span class="imgright"> <a class="box" href="http://www.climatecentral.org/images/uploads/news/1_24_13_news_andrew_nycsurgeevents.jpg"> <img src="http://www.climatecentral.org/images/sized/images/uploads/news/1_24_13_news_andrew_nycsurgeevents-500x479.jpg" width="500" height="478" /> </a> <span class="discreet"><br />Factors that contributed to the top 10 high-water  events measured at New York’s Battery Park from 1900 to present. The  water height for each event is shown against the benchmark of mean lower  low water averaged between 1983 and 2001. Sea level rise (about a foot  since 1900) is depicted as a component of storm surge. Although Sandy’s  surge peaked close to high tide, other events had even higher tide  levels.<br />Credit: Carlye Calvin and Bob Henson, UCAR; data courtesy Chris Zervas, NOAA National Ocean Service. </span></span></p>
<p>In New York City, for example, sea level has risen by about a foot  during the past century, due to both sea level rise and local land  subsidence. This meant that the record surge rode atop a higher baseline  water level than it would have had the storm struck a century ago. And  with scientists predicting up to 3 feet of sea level rise by 2100,  coastal cities around the world will face even greater threats.</p>
<p>The coastal flooding from Sandy’s storm surge played out nearly exactly  as scientists had previously warned in a series of reports commissioned  by state and city governments. All of the subway tunnels connecting  Brooklyn and Queens with Manhattan were flooded, as was the tunnel  linking Hoboken, N.J., and Manhattan. <a href="http://www.climatecentral.org/news/hurricane-sandy-paralyzes-new-york-new-jersey-15188" target="_blank">Air travel was paralyzed</a>,  too, as all three major New York area airports experienced coastal  flooding and were closed for days, along with Teterboro Airport in  northern New Jersey, which is the busiest general aviation airport in  the country.</p>
<p>Hurricane Sandy fit into the extreme weather theme of 2012. The storm spun its way ashore in the midst of the <a href="http://www.climatecentral.org/news/noaa-2012-was-warmest-and-second-most-extreme-year-on-record-15436" target="_blank">hottest year on record in the U.S.</a>, when sea surface temperatures off the East Coast were also running well above average, and at the same time that one of the <a href="http://www.climatecentral.org/news/ongoing-coverage-of-historic-drought-in-us/" target="_blank">worst droughts since the Dust Bowl era</a> of the 1930s was turning the normally productive soil of the Midwest into dust.</p>
<p>One of the more intriguing areas of research that could yield insights  into the way climate change contributes to extreme events concerns the  jet stream — the high-altitude ribbon of fast-moving air that steers  weather systems around the world — and the rapidly warming Arctic, where  sea ice plummeted to a record low in September 2012.</p>
<p>The shape of the jet stream that gave rise to Sandy was viewed with awe by some meteorologists, and suspicion by others.</p>
<p>As the storm began moving north-northeast away from the Bahamas, a  massive area of High pressure aloft set up shop over northeastern Canada  and Greenland. This high, fittingly known as a “blocking high,”  prevented Sandy from moving out to sea. At the same time, a deep dip in  the jet stream began to dig southward into the Midwest, and the airflow  around these two features scooped up Sandy and turned it northwestward,  toward land.</p>
<p>Some studies have tied an increase in the “blocking highs” near Greenland, as well as a <a href="http://www.climatecentral.org/blogs/closer-look-at-arctic-sea-ice-melt-and-extreme-weather-15013" target="_blank">sharply undulating jet stream in general</a>, to the melting Arctic sea ice, which is one of the most visible signs of a warming planet.</p>
<p>“Our research shows that northward swings, or ridges, in the jet stream  have become more frequent in recent decades, exactly in the location  where the large blocking high was parked when Sandy came along,” said  Jennifer Francis, a meteorology professor at Rutgers University and one  of the <a href="http://www.climatecentral.org/news/arctic-warming-is-altering-weather-patterns-study-shows" target="_blank">leading proponents of the Arctic connection hypothesis</a>,  in an email conversation. “These ridges favor the development of  blocks, and they are just the type of pattern we expect to increase as  the Arctic continues to warm much faster than the rest of the northern  hemisphere.”</p>
<p>Marshall Shepherd, the president of the American Meteorological  Society, said his graduate students have also investigated the Greenland  block that was entrenched at the time that Sandy moved out of the  tropics, concluding that it was “off the charts” in terms of its  strength.</p>
<p>Andrew Kemp, a researcher at the University of Pennsylvania, said  forthcoming research shows that sea level rise contributed to the  coastal flooding from Sandy, but it was not the largest factor when  compared to the timing of the high tide, the storm track, and other  variables.   Still, every inch counts, particularly when critical  infrastructure is concerned.</p>
<p>"The risk, of course, is when flood heights exceed the physical  thresholds of coastal defenses, and infrastructure is flooded. With all  things being equal, sea level rise will make that happen more often,"  Kemp said in an email.</p>
<p>Regardless of whether global warming helped steer Sandy toward land,  the coastal flooding it caused should have been an urgent call to  action. The failure of coastal cities to implement any large-scale plans  to boost climate and extreme-weather resilience in the wake of Sandy is  troubling. It suggest New York, or any other coastal city, may get  caught flat-footed once again.</p>]]></content:encoded>
    <dc:publisher>No publisher</dc:publisher>
    <dc:creator>Megan Doherty</dc:creator>
    <dc:rights></dc:rights>
    <dc:date>2013-05-09T13:35:06Z</dc:date>
    <dc:type>Press Clip</dc:type>
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  <item rdf:about="http://www.ceres.org/press/press-clips/as-oil-and-gas-drilling-competes-for-water-one-new-mexico-county-says-no">
    <title>As Oil and Gas Drilling Competes for Water, One New Mexico County Says No</title>
    <link>http://www.ceres.org/press/press-clips/as-oil-and-gas-drilling-competes-for-water-one-new-mexico-county-says-no</link>
    <description>In drought-plagued New Mexico, water is gold. And this week, Mora County in the northern part of the state took a firm stand to protect its precious liquid:  it banned all oil and gas extraction from county lands.</description>
    <content:encoded xmlns:content="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p>In drought-plagued New Mexico, water is gold.</p>
<div class="main">
<div class="entry-content content">
<p>And this week, Mora County in the northern part of the state took a  firm stand to protect its precious liquid: it banned all oil and gas  extraction from county lands. It is believed to be the first county in  the nation to take such action.</p>
<p>Big oil companies, notably Shell, had <a href="http://www.youtube.com/watch?v=jUd-ukmeKFk">reportedly already leased</a> more than 100,000 acres of land in Mora.</p>
<p>But the county’s new ordinance calls for a state constitutional  amendment that puts community rights above corporate property rights.</p>
<p>Of concern in Mora, and increasingly throughout the country, is the  potential harm to water sources from oil and gas drilling, including a  practice known as <a href="http://ngm.nationalgeographic.com/2013/03/bakken-shale-oil/fracking-animation-video">hydraulic fracturing, or fracking</a>.  The process entails injecting a mixture of water, sand and chemicals at  high pressure deep underground so as to break up rocks and release the  oil and gas they hold.</p>
<p>Because many wells cut through water-bearing formations called  aquifers, fracking risks contaminating drinking water supplies with  hazardous chemicals. Yet fracking is exempt from compliance with the  federal Safe Drinking Water Act.</p>
<p>Besides the threat of water contamination, fracking also competes for  local water supplies. A single well can require more than 5 million  gallons of water.</p>
<p>Across the United States, 47 percent of hydraulically fractured oil  and gas wells are being developed in highly water-stressed regions,  according to a <a href="http://www.ceres.org/press/press-releases/new-study-hydraulic-fracturing-faces-growing-competition-for-water-supplies-in-water-stressed-regions">report</a> released this week by <a href="http://www.ceres.org/">Ceres</a>, a Boston-based non-profit organization that educates investors about corporate environmental risks.</p>
<p>Colorado and Texas, two states where fracking operations have  expanded rapidly, exhibited the highest degree of water risk, according  to the Ceres report. In Colorado, 92 percent of shale gas and oil wells  were in “extremely high” water stress regions, defined as areas in  which cities, industries and farms are already using 80 percent or more  of available water.</p>
<p>In Texas, 51 percent of wells were in “high or extremely high” water  stress regions. In some Texas counties, water use for fracking  accounted for more than one-fifth of total water use.</p>
<p>The Ceres study used well data available at FracFocus.org and water  stress maps developed by the Aqueduct Project at the World Resources  Institute.</p>
<p>While the hydraulic fracturing industry has made some progress toward  use of recycled and saline water, which could reduce competition for  scarce freshwater supplies, these sources are still a minor component of  the overall industry’s water demand. And even with use of alternative  water sources, the risks of groundwater contamination from the chemicals  used in fracking remain.</p>
<p>With hydraulically fractured gas and oil production projected to  double in the coming years, the bottom line, according to Ceres, is that  “competition and conflicts over water should be a growing concern for  companies, policymakers and investors.”</p>
<p>But Mora County’s decision – to keep more climate-altering fossil  fuels in the ground so as to preserve and safeguard local water supplies  for its people – draws a more precautionary line in the sand. It’s a  line other counties may want to draw, too – because without adequate  supplies of safe drinking water, no region’s future is bright.</p>
<p><i>Sandra Postel is director of the Global Water Policy Project and  Freshwater Fellow of the National Geographic Society. She is the author  of several acclaimed books, including the award-winning Last Oasis, a  Pew Scholar in Conservation and the Environment, and one of the  “Scientific American 50.” She is co-creator of </i><a href="http://environment.nationalgeographic.com/environment/freshwater/change-the-course/">Change the Course</a><i>, the national freshwater restoration campaign being piloted in the Colorado River Basin.</i></p>
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    <dc:publisher>No publisher</dc:publisher>
    <dc:creator>Megan Doherty</dc:creator>
    <dc:rights></dc:rights>
    <dc:date>2013-05-09T13:11:19Z</dc:date>
    <dc:type>Press Clip</dc:type>
  </item>


  <item rdf:about="http://www.ceres.org/press/press-clips/insuring-against-heavy-weather">
    <title>Insuring Against Heavy Weather</title>
    <link>http://www.ceres.org/press/press-clips/insuring-against-heavy-weather</link>
    <description>Insurance premiums are on the rise as extreme weather events take their toll. It's as a result, they say, of climate change. But is insurance, and business generally, doing enough to prepare for the tougher storms yet to come?</description>
    <content:encoded xmlns:content="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p>Insurance premiums are on the rise as extreme weather events take their  toll. It's as a result, they say, of climate change. But is insurance,  and business generally, doing enough to prepare for the tougher storms  yet to come?</p>
<p>The effects of climate change are of course unpredictable on a  regional basis - not everywhere for example is getting hotter and dryer -  but the UN predicts extreme weather events will present a growing  challenge to our daily existence, and for that matter to many  businesses.</p>
<p>Sharlene Leurig is a Senior Manager at Ceres, a nonprofit  organisation that argues for greater sustainability. She's recently  written a report about what she sees as a severe failing in the US  insurance industry to respond to the commercial threats that climate  change poses. John Coomber represents a range of European Insurers, who  have formed Climatewise, a leadership group within the industry to drive  action on climate change risk. And can new technology help us to build  so as to better weather the storms?</p>
<p><a class="external-link" href="http://www.bbc.co.uk/programmes/p017k0cv">Listen to the interview here.</a></p>]]></content:encoded>
    <dc:publisher>No publisher</dc:publisher>
    <dc:creator>Megan Doherty</dc:creator>
    <dc:rights></dc:rights>
    <dc:date>2013-05-08T19:42:54Z</dc:date>
    <dc:type>Press Clip</dc:type>
  </item>


  <item rdf:about="http://www.ceres.org/press/press-clips/nearly-half-of-fracking-happens-in-places-short-on-water">
    <title>Nearly half of fracking happens in places short on water</title>
    <link>http://www.ceres.org/press/press-clips/nearly-half-of-fracking-happens-in-places-short-on-water</link>
    <description>Hydraulic fracturing uses large amounts of pressurized water — mixed with sand and chemicals — to crack subterranean rocks and release oil or natural gas. Up to 10 million gallons of water can go into a single well. And according to a new study, it’s happening in many places where water supplies are already stretched perilously thin.</description>
    <content:encoded xmlns:content="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p>Fracking for oil and gas is a thirsty business.</p>
<p>Hydraulic fracturing uses large amounts of pressurized water — mixed  with sand and chemicals — to crack subterranean rocks and release oil or  natural gas. Up to 10 million gallons of water can go into a single  well.</p>
<p>And according to <a href="../press-releases/new-study-hydraulic-fracturing-faces-growing-competition-for-water-supplies-in-water-stressed-regions" target="_top">a new study</a>, it’s happening in many places where water supplies are already stretched perilously thin.</p>
<p><a href="../press-releases/new-study-hydraulic-fracturing-faces-growing-competition-for-water-supplies-in-water-stressed-regions" target="_top">The study</a>,  released today by the nonprofit group Ceres, examined 25,450 fracked  wells across the United States and found that 47 percent lie in areas  that face high or extremely high “water stress.” In those areas, at  least 80 percent of the available fresh water is already being used in  homes, farms or businesses.</p>
<p>The numbers have big implications.</p>
<p>Fracking has triggered an oil and gas drilling boom across the United  States, from Pennsylvania to California. But some places that have seen  extensive fracking, such as west Texas and Colorado, have suffered  recent droughts. Even in good years, they aren’t exactly drenched in  rain.</p>
<p>The spread of fracking could lead to competition among drillers,  farmers and homeowners, said Monika Freyman, manager of the water  program at Ceres.</p>
<p>“It’s already starting to happen,” said Freyman, who co-wrote the  report. “The companies will be able to get their water, because they can  afford to pay the most. But it’s going to increase the competition and  conflicts for water, especially in regions that are experiencing  drought.”</p>
<p>Ceres works with investors and businesses to encourage  sustainability, with a particular focus on climate change and water  scarcity. Freyman and her colleagues used records from FracFocus, a  website where oil and gas companies post information on fracked wells.  They compared the location of the wells to water supply data from the  World Resources Institute.</p>
<p>The FracFocus well records run from January of 2011 through September  of 2012. During that period, 65.8 billion gallons of water were pumped  underground for fracking, according to the study. And that figure —  roughly equal to the amount of water 2.5 million Americans use in a year  — is almost certainly an undercount. Not every oil company reports its  fracking operations on FracFocus.</p>
<p>California, which just ended a rainy season remarkably free of rain, does not feature prominently in the Ceres report.</p>
<p>So far, fracking has not become as widespread here as it has in North  Dakota or Texas. And California’s unique underground geology has <a href="http://www.sfgate.com/science/article/Fracking-in-California-takes-less-water-3850860.php" target="_top">limited the amount of water needed</a> for fracking. Shale rocks here contain large amounts of briney water  along with the oil, so pressurizing the well doesn’t take as much water  pumped from the surface.</p>
<p>During the study period, the average fracked well in California used 166,714 gallons of water, according to Ceres.</p>
<p>Ceres wants the companies that engage in fracking to do a better job  planning for water use and recycling, and having discussions about both  with the public. Unlike many of its environmental allies, the  organization does not take a position on fracking itself, pro or con.</p>
<p>“We really want to see better water management planning, from  industry and regulators and water managers,” Freyman said. “That will  start the dialogue on, ‘How are you getting your water? What are the  challenges to recycling the water? What’s your community engagement on  getting that water?’”</p>]]></content:encoded>
    <dc:publisher>No publisher</dc:publisher>
    <dc:creator>Megan Doherty</dc:creator>
    <dc:rights></dc:rights>
    <dc:date>2013-05-08T19:00:29Z</dc:date>
    <dc:type>Press Clip</dc:type>
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  <item rdf:about="http://www.ceres.org/press/press-clips/spread-of-hydrofracking-could-strain-water-resources-in-west-study-finds">
    <title> Spread of Hydrofracking Could Strain Water Resources in West, Study Finds</title>
    <link>http://www.ceres.org/press/press-clips/spread-of-hydrofracking-could-strain-water-resources-in-west-study-finds</link>
    <description>The rapid expansion of hydraulic fracturing to retrieve once-inaccessible reservoirs of oil and gas could put pressure on already-stressed water resources from the suburbs of Fort Worth to western Colorado.</description>
    <content:encoded xmlns:content="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p>The rapid expansion of hydraulic fracturing to retrieve once-inaccessible reservoirs of <a class="meta-classifier" href="http://topics.nytimes.com/top/news/business/energy-environment/oil-petroleum-and-gasoline/index.html?inline=nyt-classifier" title="More articles about oil.">oil</a> and gas could put pressure on already-stressed water resources from the  suburbs of Fort Worth to western Colorado, according to a new report  from a nonprofit group that advises investors about companies’  environmental risks.</p>
<div class="runaroundLeft articleInline">
<div class="doubleRule">
<div class="story"></div>
</div>
</div>
<p>“Given projected sharp increases” in the production of oil and gas by  the technique commonly known as fracking, the report from the group <a href="../../">Ceres</a> said, “and the intense nature of local water demands, competition and  conflicts over water should be a growing concern for companies, policy  makers and investors.”</p>
<p>The overall amount of water used for fracking, even in states like  Colorado and Texas that have been through severe droughts in recent  years, is still small: in many cases 1 percent or even as little as a  tenth of 1 percent of overall consumption, far less than agricultural or  municipal uses.</p>
<p>But those figures mask more significant local effects, the report’s author, <a href="../../about-us/who-we-are/ceres-staff/monika-freyman">Monika Freyman</a>,  said in an interview. “You have to look at a county-by-county scale to  capture the intense and short-term impact on water supplies,” she said.</p>
<p>“The whole drilling and fracking process is a well-orchestrated,  moment-by-moment process” requiring that one million to five million  gallons of water are available for a brief period, she added. “They need  an intense amount of water for a few days, and that’s it.”</p>
<p>One of the options that oil and gas drillers have is recycling the water  that comes back out of wells, which is called “produced water.” But the  water injected into wells is laced with a proprietary mixture of  chemicals and sand, and the water returning from thousands of feet below  the surface can also contain natural pollutants or even radioactivity.  Recycled water must therefore be treated, which can be expensive.</p>
<p>An earlier <a href="http://www.twdb.state.tx.us/waterplanning/rwp/planningdocu/2016/doc/current_docs/project_docs/201209FinalReport__O&amp;GWaterUse.pdf">report</a> done by engineers at the University of Texas, Austin, showed that 8,800  acre-feet — nearly 2.9 billion gallons — were used for fracking in 2011  in <a href="http://www.tarrantcounty.com/egov/site/default.asp">Tarrant County</a> in North Texas, where Fort Worth is located and which has gone to the Supreme Court to get access to Oklahoma’s water.</p>
<p>And in the Eagle Ford <a href="https://www.google.com/search?q=Eagle+Ford+shale+formation&amp;client=firefox-a&amp;hs=TJd&amp;rls=org.mozilla:en-US:official&amp;tbm=isch&amp;tbo=u&amp;source=univ&amp;sa=X&amp;ei=c2CBUcuBA9bK4APf_YHADg&amp;ved=0CF4QsAQ&amp;biw=977&amp;bih=386#imgrc=OYPY0JDO_syOUM%3A%3BdygjFRxxR0AODM%3Bhttps%253A%252F%252Fimages.angelpub.com%252F2011%252F40%252F10793%252Feagle-ford-map-large.png%3Bhttp%253A%252F%252Fwww.energyandcapital.com%252Farticles%252Fthe-eagle-ford-shale-formation%252F1820%3B898%3B695">shale formation</a> in South Texas, particularly in Webb County, some researchers estimate  that the amount of water used for fracking represents as much as  one-third of the area’s annual groundwater recharge, the amount of  surface water that percolates back to the underground aquifer supplying  the region.</p>
<p>But the Ceres report notes that drillers in the Eagle Ford formation are  also expanding their use of brackish, undrinkable water in place of  fresh water.</p>
<p>While the local effects in Texas have been sufficient to spur the state’s <a href="http://www.rrc.state.tx.us/">Railroad Commission</a>,  which regulates the oil and gas industry there, to encourage recycling  by loosening rules governing that process, it is Colorado that faces the  most widespread potential conflicts between fracking and other water  uses, according to Ceres’s new report.</p>
<p>Kenneth H. Carlson, an engineering professor at Colorado State  University, saw little difference between drillers buying needed water  and cities buying water from farmers. “It’s a private commodity that  people can do with what they want,” he said. “We’re not going to go  thirsty. We’re just going to have to pay more.”</p>]]></content:encoded>
    <dc:publisher>No publisher</dc:publisher>
    <dc:creator>Megan Doherty</dc:creator>
    <dc:rights></dc:rights>
    <dc:date>2013-05-08T18:50:00Z</dc:date>
    <dc:type>Press Clip</dc:type>
  </item>


  <item rdf:about="http://www.ceres.org/resources/reports/the-21st-century-investor-ceres-blueprint-for-sustainable-investing-summary">
    <title>The 21st Century Investor: Ceres Blueprint for Sustainable Investing Summary</title>
    <link>http://www.ceres.org/resources/reports/the-21st-century-investor-ceres-blueprint-for-sustainable-investing-summary</link>
    <description>This summary report of The 21st Century Investor: Ceres Blueprint for Sustainable Investing (the “Ceres Investor Blueprint”) is a preview of a more detailed document Ceres will release later this quarter.</description>
    <content:encoded xmlns:content="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p style="text-align: left; ">This summary report of The 21st Century Investor: Ceres Blueprint for Sustainable Investing (the “Ceres Investor Blueprint”) is a preview of a more detailed document Ceres will release later this quarter. The Ceres Investor Blueprint is intended to guide investors along a path to becoming what we call “sustainable investors" —investors who understand that the 21st century economy will be shaped by powerful forces such as climate change, population growth, rising demand for energy, declining supplies of fresh water and other natural resources, and protection of human rights and worker health and safety. To protect current and future beneficiaries, and maximize risk-adjusted returns, sustainable investors will need to mitigate the risks and seize the opportunities arising from these sustainability challenges.</p>
<p style="text-align: left; ">By operating and investing sustainably, companies and investors will be contributing significantly to the creation of a sustainable economy—one that meets the needs of people today without compromising the ability of future generations to meet their needs. The Ceres Investor Blueprint is designed to help investors act on their growing concern about sustainability by providing a set of 10 concrete action steps that will move them along a path towards becoming sustainable investors.</p>]]></content:encoded>
    <dc:publisher>No publisher</dc:publisher>
    <dc:creator>Megan Doherty</dc:creator>
    <dc:rights></dc:rights>
    <dc:date>2013-05-02T17:55:00Z</dc:date>
    <dc:type>Resource</dc:type>
  </item>


  <item rdf:about="http://www.ceres.org/press/press-releases/new-study-hydraulic-fracturing-faces-growing-competition-for-water-supplies-in-water-stressed-regions">
    <title>New Study: Hydraulic Fracturing Faces Growing Competition for Water Supplies in Water-Stressed Regions</title>
    <link>http://www.ceres.org/press/press-releases/new-study-hydraulic-fracturing-faces-growing-competition-for-water-supplies-in-water-stressed-regions</link>
    <description>A new Ceres research paper on water use in hydraulic fracturing operations shows that a significant portion of this activity is happening in water stressed regions of the United States, most prominently Texas and Colorado, which are both in the midst of prolonged drought conditions.</description>
    <content:encoded xmlns:content="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p><a class="external-link" href="../../shalemap"><img src="http://www.ceres.org/images/FrackingMap.jpg/image_preview" alt="Fracking Map" class="image-right" /></a></p>
<p>A new Ceres research paper on water use in hydraulic fracturing operations shows that a significant portion of this activity is happening in water stressed regions of the United States, most prominently Texas and Colorado, which are both in the midst of prolonged drought conditions. It concludes that industry efforts underway, such as expanded use of recycled water and non-freshwater resources, need to be scaled up along with better water management planning if shale energy production is to grow as projected.</p>
<p>The report, announced today, is based on well drilling and water use data from FracFocus.org and<a href="http://www.ceres.org/issues/water/hydraulic-fracturing-water-stress" class="internal-link"> water stress indicator maps</a> developed by the World Resources Institute (WRI). The research shows that nearly 47 percent of the wells were developed in water basins with high or extremely high water stress. The research was based on FracFocus data collected on 25,450 wells in operation from January 2011 through September 2012.</p>
<p>“These findings highlight emerging tensions in many U.S. regions between growing hydraulic fracturing activity and localized water supply needs,” said Ceres president Mindy Lubber, in announcing the report, <i><a href="../../resources/reports/hydraulic-fracturing-water-stress-growing-competitive-pressures-for-water/view">Hydraulic Fracturing &amp; Water Stress: Growing Competitive Pressures for Water</a></i>, at Ceres’ annual conference in San Francisco.</p>
<p>FracFocus.org was launched in 2011 as a voluntary national hydraulic fracturing chemical registry. The database provides the location and date that each oil and gas well was developed and the chemical additives and total volume of water injected down each well.</p>
<p>WRI’s water stress indicator maps are part of a recently launched Aqueduct Water Risk Atlas, which provides a comprehensive, high-resolution picture of water-related risks worldwide. The baseline water stress indicator maps show the level of competition for water in different U.S. regions by measuring total annual water withdrawals against the percentage of water that is available.  Extremely high water stress means over 80 percent of available water is already being allocated for municipal, industrial and agricultural uses.</p>
<p>By linking the two datasets together through matching latitude and longitude coordinates, the report provides valuable insights about the extent and distribution of well production activity in regions with water competition challenges.</p>
<p>Colorado and Texas showed the highest  exposure to water stress. In Colorado, 92 percent of the wells were in extremely high water stress regions. In Texas, which accounts for nearly half of the total wells analyzed, 51 percent of the wells were in high or extremely high water stress regions. In some Texas counties, water use for hydraulic fracturing accounted for more than 20 percent of the region’s total water use. In Pennsylvania, 70 percent of the wells were in medium to high water stress water basins and only 2 percent were in high water stress basins.</p>
<p>“Given projected sharp increases in shale oil and gas production in the coming years, competition over water should be a growing concern to energy companies, policymakers and investors,” the report concludes, noting a projected doubling of oil and gas fracturing production in the coming years. “Shale energy development cannot grow without water, but in order to do so the industry’s water needs and impacts need to be better understood, measured and managed.”</p>
<p>As the report outlines, the industry has made progress in boosting the use of recycled water and other alternative water sources for fracturing wells. Operators are starting to use non-freshwater alternatives such as wastewater, saline water, seawater and acid-mine drainage. “Overall water recycling and the use of non-freshwater sources must increase considerably to have a significant impact,” the report says.</p>
<p>The report includes key recommendations for companies and regulators, among those:</p>
<ul>
<li>Comprehensive mandatory disclosure by companies of how much freshwater, non-freshwater and recycled water they are using region by region as well as how much water is returning to the surface and where it is ending up.</li>
<li>Requirements for companies to set quantifiable water use targets, including recycling and non-freshwater use targets.</li>
<li>Ensure that both companies and local regulators are conducting sufficient water management planning.</li>
<li>Ensure that companies have a local stakeholder engagement process in place on water issues.</li>
</ul>
<p><br />Other investor focused initiatives, such as the Interfaith Center for Corporate Responsibility and the <a class="external-link" href="http://www.iehn.org/publications.reports.frackguidance.php">Investor Environmental Health Network's Extracting the Facts</a> (see their goal 6) have been pushing for better water sourcing disclosure along with other engagement recommendations on mitigating environmental and community impacts.</p>
<ul>
</ul>
<p> </p>
<p>Today’s report is part of a larger, more comprehensive study Ceres is undertaking to analyze water risks across the entire hydraulic fracturing lifecycle – from water sourcing to final treatment and disposal of wastewater – across different regional basins in North America. The research is aimed primarily at investors who have financial stakes in operators and support services in these regions.</p>
<p><b>About Ceres</b></p>
<p><b>Ceres </b>is an advocate for sustainability leadership. Ceres mobilizes a powerful coalition of investors, companies and public interest groups to accelerate and expand the adoption of sustainable business practices and solutions to build a healthy global economy. Ceres also directs the Investor Network on Climate Risk (INCR), a network of 100 institutional investors with collective assets totaling more than $11 trillion. For more information, visit <a href="../../">http://www.ceres.org</a></p>]]></content:encoded>
    <dc:publisher>No publisher</dc:publisher>
    <dc:creator>Megan Doherty</dc:creator>
    <dc:rights></dc:rights>
    <dc:date>2013-05-02T03:55:00Z</dc:date>
    <dc:type>Press Release</dc:type>
  </item>


  <item rdf:about="http://www.ceres.org/resources/reports/hydraulic-fracturing-water-stress-growing-competitive-pressures-for-water">
    <title>Hydraulic Fracturing &amp; Water Stress: Growing Competitive Pressures for Water</title>
    <link>http://www.ceres.org/resources/reports/hydraulic-fracturing-water-stress-growing-competitive-pressures-for-water</link>
    <description>This Ceres research paper analyzes water use in hydraulic fracturing operations across the United States and the extent to which this activity is taking place in water stressed regions. It provides an overview of efforts underway, such as the use of recycled water and nonfreshwater resources, to mitigate these impacts and suggests key questions that industry, water managers and investors should be asking.</description>
    <content:encoded xmlns:content="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p><a class="external-link" href="../../shalemap"><img src="http://www.ceres.org/images/FrackingMap.jpg/image_preview" alt="Fracking Map" width="287" class="image-right" height="189" /></a>This Ceres research paper analyzes water use in hydraulic fracturing operations across the United States and the extent to which this activity is taking place in water stressed regions. It provides an overview of efforts underway, such as the use of recycled water and nonfreshwater resources, to mitigate these impacts and suggests key questions that industry, water managers and investors should be asking. The research is based on well data available at FracFocus.org and water stress indicator maps developed by the World Resources Institute.</p>
<p>The research paper provides valuable insights about potential water use/water supply conflicts and risks, especially in basins with intense hydraulic fracturing activity and water supply constraints (due to water stress and/or drought). Given projected sharp increases in production in the coming years and the potentially intense nature of local water demands, competition and conflicts over water should be a growing concern for companies, policymakers and investors.</p>
<p>The bottom line: shale energy development cannot grow without water, but in order to do so the industry’s water needs and impacts need to be better understood, measured and managed. A key question investors should be asking is whether water management planning is getting sufficient attention from both industry and regulators.</p>]]></content:encoded>
    <dc:publisher>No publisher</dc:publisher>
    <dc:creator>Megan Doherty</dc:creator>
    <dc:rights></dc:rights>
    <dc:date>2013-05-02T03:55:00Z</dc:date>
    <dc:type>Resource</dc:type>
  </item>


  <item rdf:about="http://www.ceres.org/press/press-releases/phil-angelides-a-leader-in-shareholder-activism-and-green-investment-wins-the-joan-bavaria-award">
    <title>Phil Angelides, a Leader in Shareholder Activism and Green Investment, Wins the Joan Bavaria Award</title>
    <link>http://www.ceres.org/press/press-releases/phil-angelides-a-leader-in-shareholder-activism-and-green-investment-wins-the-joan-bavaria-award</link>
    <description>Phil Angelides has been awarded the fifth-annual Joan Bavaria Award for Building Sustainability into the Capital Markets. The announcement was made today, the first day of the annual Ceres Conference, which is running May 1-2 at The Fairmont in San Francisco, CA.</description>
    <content:encoded xmlns:content="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p>Phil Angelides has been awarded the fifth-annual <a href="http://www.ceres.org/awards/joan-bavaria-award"><i>Joan Bavaria Award for Building Sustainability into the Capital Markets</i></a>. The announcement was made today, the first day of the annual Ceres Conference, which is running May 1-2 at The Fairmont in San Francisco, CA.</p>
<p>Angelides is currently President of Riverview Capital Investments, a real estate investment firm which focuses on clean energy projects and sustainable urban development. From 1999 to 2007, he served as California’s State Treasurer. During his eight years in elected office, Angelides called for a renewed push in shareholder activism and launched the Green Wave Initiative, encouraging investment in green technologies and urging companies to address the financial risks of climate change and reduce their energy consumption.</p>
<p>The Bavaria Award is presented by Ceres and Trillium Asset Management each year to honor an inspiring leader working to move capital markets toward a system that balances economic prosperity with social and environmental concerns. The award honors Joan Bavaria, a pioneer of social investing who founded Ceres and Trillium Asset Management. Joan Bavaria passed away in 2008.</p>
<p>“Phil’s actions were bold and transformational, given that at the time, no other state pension fund had taken steps to incorporate environmental impact into their investments.” said <b>Trillium’s CEO Matt Patsky.</b></p>
<p>“Phil Angelides has worked tirelessly to push investors and the business community toward a sustainable economy. As California State Treasurer, he helped spur investments that increased returns, created jobs and addressed the financial risks caused by the changing environment,” said <b>Mindy Lubber, president of Ceres and director of the Investor Network on Climate Risk </b>(INCR). “Phil embodies the spirit of the Joan Bavaria Award and we are honored to acknowledge his contribution to the sustainable investing community.”</p>
<p>Angelides also served as Chairman of the Financial Crisis Inquiry Commission, a bipartisan panel charged with conducting the nation’s official inquiry into the causes of the financial and economic crisis and presenting findings and recommendations to the President and Congress.  Since 2007, Angelides has served as Chairman of the Apollo Alliance, a national coalition of business, labor, environmental and community leaders committed to creating green jobs and building a clean energy economy.</p>
<p>A founding member of the Ceres-led Investor Network on Climate Risk, Mr. Angelides served on the INCR Steering Committee and was a motivating force behind the first Investor Summit on Climate Risk at the United Nations in New York. Over the course of his career, he has helped mobilize financial leaders to act on climate and sustainability issues.</p>
<p>“The enduring strength of our economy and society is inextricably tied to our willingness to embrace investments and business practices that create sustainable enterprises, broaden economic opportunity, and protect our environment,” said <b>Mr. Angelides</b>. “I am deeply honored to receive the Joan Bavaria Award and remain committed to supporting the critical efforts needed to confront the enormous economic and environmental risks posed by climate change.”</p>
<p><b> </b></p>
<p><b>About Ceres</b></p>
<p><b>Ceres </b>is an advocate for sustainability leadership. Ceres mobilizes a powerful coalition of investors, companies and public interest groups to accelerate and expand the adoption of sustainable business practices and solutions to build a healthy global economy. Ceres also directs the Investor Network on Climate Risk (INCR), a network of more than100 institutional investors with collective assets totaling more than $11 trillion. For more information, visit <a href="http://www.ceres.org">http://www.ceres.org</a><b> </b></p>
<p><b>About Trillium Asset Management</b><br /> With a history spanning three decades, Trillium is the oldest independent investment advisor focused exclusively on sustainable and responsible investing. Trillium manages over $1 billion in assets for clients including high net worth individuals, foundations, endowments, religious institutions, and other non-profits. To learn more about Trillium, please visit <a href="http://trilliuminvest.com">http://trilliuminvest.com</a>.</p>]]></content:encoded>
    <dc:publisher>No publisher</dc:publisher>
    <dc:creator>Megan Doherty</dc:creator>
    <dc:rights></dc:rights>
    <dc:date>2013-05-01T18:55:00Z</dc:date>
    <dc:type>Press Release</dc:type>
  </item>





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