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From Lauraibm

Full story: What colour is the U.S dollar bill? (27-Sep-07)

Alongside the recent UN climate conference in New York, researchers at the Carbon Disclosure Project reported its latest results. The basic idea of the scheme is if investors can be encouraged to ask companies for information about their carbon footprints, it would be a powerful incentive for corporations to reduce pollution and their contribution to global warming.

But disclosure is a means, not an end. The goal is to change their polluting behaviour. Although the project is gaining momentum, it is recognised that there is still a long way to go.

Of the 500 largest listed companies, 77% answered the questionnaire, although key firms in Russia and China, such as Gazprom and China Petroleum, failed to reply. Of those who replied, there was an increase in the percentage of companies who are implementing greenhouse gas reduction plans — from 46% last year to 76% this year.

Also noteworthy was that a mere 9% of U.S companies stated that they took into account the cost of carbon when making business decisions. A possible explanation for this is that, unlike European companies, American businesses do not have to track their emissions to comply with local regulations.