US: Companies behind on meeting challenge of climate change
Date: 22 Sep 2008
US companies understand that climate change represents a significant risk to their business, but are behind global companies when it comes to taking action, according to a new survey by the Carbon Disclosure Project.
According to the survey, around 81 percent of US respondents saw climate change as a risk, with a much smaller 33 percent actually having targets to reduce emissions of greenhouse gases, as opposed to 74 percent of global companies.
Partly, the survey's authors believe, this is down to regulatory differences. The European Union has had mandatory caps on greenhouse gas emissions over the last three years, whilst the US has no federal limits currently in place.
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In a recent article, the BBC's economics editor Robert Peston highlighted the fact that in 2012 the chances are that the economy - punch drunk as it is from the various flavours of debt crisis it has been pummelled with over the course of the year - will be hit by the collapse of a major bank and / or government.
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