Can Companies be Shamed into Cutting Emissions?
February 25, 2009 · Print This Article
A group of investors named a builder and 8 other companies to a “Climate Watch List” this week, hoping to force those companies into taking responsibility for their contributions to global warming. The environmental investor group, Ceres, cited concerns that the firms are undermining their own long-term competitiveness and lagging behind their peers by failing to respond to the business challenges posed by global warming.St
From Energy Priorities Magazine:
The Climate Watch List isn’t limited to coal and oil companies, although those dominate the widely publicized shame list. California homebuilder Standard Pacific was singled out for not responding to requests for energy efficiency measures.
Unlike other leading homebuilders, Standard Pacific has opposed shareholder requests the past three years to disclose its strategies and performance on energy efficiency and other climate-related issues. The resolution filed by the Nathan Cummings Foundation asks the homebuilder to adopt quantitative goals for boosting energy efficiency and reducing greenhouse gas (GHG) emissions from its products and operations. Homebuilders have an important role in mitigating climate change because 40 percent of GHGs come from building energy use, and building energy efficiency is one of the most cost effective means of reducing global warming pollution.
Among the companies named were ExxonMobil, Chevron, Massey Energy and General Motors. Two of the oil companies were targeted for their investments in Canada’s oil sands region, where more than a million barrels of oil are extracted every day using carbon-intensive technology. GM’s spot was earned for its “ongoing legislation to stop California’s clean car standards from being adopted”. You can read a full list of the companies over at Sustainable Business.
Green Biz gives more details:
Jack Ehnes, the CEO of the California State Teachers Retirement System (CalSTRS), one of the largest pension investment funds in the country, explained on the press call yesterday that the groups involved in making the Climate Watch List see understanding and measuring climate risk as a fundamental business activity, like any other kind of business risk — and an ever-growing number of investors see these issues as key to making informed investment decisions.
So, will shame push these companies into action? It’s difficult to say. Ceres is trying to force the companies to shape up for their own good – so they can prepare for the “low-carbon global economy” that’s looming. In other words, they’re saying that cutting back their contributions to global warming is essential to survival. But companies like ExxonMobil are so deeply invested in dirty practices that it seems unlikely being named to this list will spur changes. But, money talks and if investors demand action, companies had better listen.
Link [Energy Priorities Magazine] + [Sustainable Business] + [GreenBiz]
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Toast the Earth with Exxon Mobile
It may come as a surprise to readers but ExxonMobil is already working on a range of next generation technology to reduce emissions generated by consumers as well as working to reduce emissions at our own own operations. How do I know? Well I work at ExxonMobil and am proud and excited by our efforts – though a little frustrated that not enough people seem to hear about them.
First and foremost I am proud of the fact that we are significantly reducing our own greenhouse gas emissions – in fact in the last 2 years we have reduced emissions from our global operations by more then 5 million metric tons, or the equivalent of taking about one million cars off our roads.
Secondly, and perhaps more interesting, is the fact that we are also conducting our own in-house R&D aimed at increasing energy supplies while reducing greenhouse gas emissions. Some examples in the transportation sector include projects to advance technologies for lithium-ion batteries for use in hybrid and electric vehicles, the development of an on-vehicle hydrogen generation system and research into advanced biofuels.
And we believe we are also playing a constructive role in the policy debate. In fact our CEO recently spoke at Stanford University where he detailed our views on policy options – saying that given the risks we face and the alternatives under consideration, a carbon tax was the best course of action in managing rising emissions. A judgment we hope others in the business community and beyond will come to share.
These are just a few examples of the things we are doing to manage the risks posed by rising emissions. While it may come as a surprise I hope it encourages people to find out what we are doing to develop alternatives and low-emissions energy technologies. If I have peaked anyones interest the following link takes you to our Corporate Citizenship page which details our efforts.
http://exxonmobil.com/citizenship
If only putting those companies on lists like: “The Worst Corporation Ever” or “The Climate Watch List” would help!!! They could not care less about people’s health or environment. If Chevron cared about what people think or about its impact on the environment, this evil corporation would start with cleaning up the mess Ecuador.
Texaco (Chevron bought Texaco in 2001) dumped over 18 billion gallons of oil and toxic water into the streams in Ecuador. Today the drinking water is contaminated and over 1,000 people have died from cancer and thousands more are sick with skin disease and respiratory illnesses and Chevron is doing everything to avoid helping the Ecuadorians suffering from their contamination
To find out more, go to this blog: http://www.thechevronpit.blogspot.com