Study: The Environmental Cost of Doing Business Could Erase a Third of Corporations Profits Environment

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Mar 23, 2010 & & & Environment headlines around email. & & Start a Petition » change_setup("300", "Featured", "all", "#DCB000", 6); Knowing they will face meridian legislation someday in the future, a series of U.S. corporations have already started to equivalent their hothouse gas emissions. The application hulk American Electric and Power is shopping timberland projects in Brazil and the ordering association Waste Management is recuperating methane from landfills to have use of in the rabble trucks in California.But a rough inform commissioned by the United Nations has found that the cost of environmental indemnification could erase at slightest one third of the increase vital corporations have around the world, if they had to compensate for these damages. The investigate looked at 3,000 of the worlds tip publicly traded companies, and distributed that their environmental stroke amounted to at slightest $2.2 trillion in 2008. More than half of the repairs was caused by hothouse gas emissions.The full report, due out this summer and initial reported by the Guardian in February, was conducted by the British consultancy organisation Trucost, and commissioned by the United Nations Principles for Responsible Investment. Trucosts CEO, Richard Mattison, told the Guardian that industries are confronting a utterly new paradigm: Externalities of this scale and inlet poise a vital risk to the tellurian economy and markets are not entirely wakeful of these risks, nor do they know how to understanding with them, he said.What economists call externalities, are industry byproducts such as air pollution, dirt erosion, and H2O pollution. These costs to the sourroundings (and the surrounding communities) are not enclosed in the cost of producing energy, joist or food, for example, but are paid for by those who humour from the effects.The Guardian reported that the $2.2 trillion figure could be most higher, given the investigate usually enclosed the stroke from vital corporations, and not the commercial operation and consumer practices of governments or the ubiquitous population.The authors of the investigate goal it will be used by flourishing numbers of institutional investors who wish to behind companies with a great lane jot down in environmental, amicable and corporate governance, and expostulate home to commercial operation leaders and process makers that environmental costs will increasingly be piece of a corporations bottom line.The Securities and Exchange Commission delivered a identical summary in January, when it expelled discipline on what open companies should divulge as intensity element risks from meridian change.The 4 main areas enclosed the mercantile costs of assembly general emissions treaties and alternative tentative regulations, staying rival as consumer and commercial operation trends change to conform to meridian change, and mitigating the intensity earthy hurdles of a becoming different climate, such as H2O nonesuch and dirt degradation.Whether these risks are caused by increasing foe or serious weather, pronounced SEC Chairman Mary Schapiro, companies contingency divulge to their shareholders the poignant risks they face.James Salo, the head of investigate and plan at Trucosts U.S. office, told Carbon Watch that the discipline put the responsibility on companies to assimilate those risks in those 4 key areas and conduct them.12; &

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