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World's largest companies taking action on climate change

Date: 14 Sep 2011

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More than two thirds of the top 500 companies in the world have now put climate change as a key focus in their strategy, according to the Carbon Disclosure Project.

The figure has risen from 48 percent last year to 68 percent in the latest survey, with nearly half of the companies reporting that they have begun making real reductions in their greenhouse gas emissions with three quarters of companies now setting targets for further reductions.

Top performers in terms of taking action and disclosing information were companies such as Bank of America, BMW, Philips Electronics, Sony and Tesco.

Companies picked out for not disclosing climate change information include Amazon and Apple.

The Carbon Disclosure Project focused on some of the financial benefits enjoyed by companies that have undertaken a process of emissions reductions. High energy prices have been a significant driver of interest in the issue in the boardroom.

The results are interesting, since they show that although political urgency on the issue has waned with the recession, more companies than ever are recognising the need to build it in to future business development.

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