US investors are singling out nine companies — including, surprise, surprise, ExxonMobil — for not doing enough to address the business challenges raised by global warming.
The nine firms were all added this week to Ceres’ Climate Watch List. Ceres is a coalition of investors, environmental groups and other organisations that works with businesses to address sustainability issues such a climate change.
So who made Ceres’ Naughty Nine list? It should comes as no surprise that oil, energy and auto companies dominate:
- CONSOL Energy;
- General Motors;
- Massey Energy;
- Standard Pacific;
- Canadian Natural Resources Ltd.;
- Ultra Petroleum.
“These climate watch companies are ignoring a major business trend that will influence their competitive positioning for years to come,” said Mindy S. Lubber, president of Ceres. “Given the political shift in Washington, all companies should be minimizing climate risks and maximizing clean energy opportunities. Companies that miss this trend are setting themselves up to fail in the 21st century low-carbon economy.”