SEC and Investors Demand More Disclosure on Climate Risk
The U.S. Securities and Exchange Commission (SEC) voted to encourage companies to disclose the effects of climate change. Potentially a watershed event, this is the first time the SEC has ruled that companies should report climate risk. State retirement funds, other investors and NGOs have been pressuring the SEC to require more disclosure. Ceres published a helpful fact sheet on this SEC vote that should be read by all CFOs.
- Climate lawsuits gain clout. A small Alaskan village sues energy companies for $400m to move all inhabitants off its island and federal appeals courts allow climate suits to continue in other states. These legal cases and others help firms and insurance companies quantify the legal risk from climate change.
- Climategate fallout continues. Scientists admit that the speed of glaciers melting due to climate change was not based on real science and was greatly exaggerated. Scientists involved refuse to share data.
- Over 60 firms are testing the draft scope 3 standards from WRI. Some companies expressed concern to us about the practicality and affordability of these draft Scope 3 standards and we are following the feedback from these early testers.
- Two Fortune 500 firms, Nike and Yahoo!, drop carbon offsets.
- Free webinar on Tuesday, February 2: Hear a case study of News Corp's use of Hara software to manage carbon and energy data, including what drove the business case and lessons learned. Click here to register.
- Upcoming Spring Conference: Look for information soon about the Groom Energy ECA conference being held in Boston this April.
Groom Research Reports
- NEW: we released a new research report "ECA Buyer Survey: A Survey of Purchasing Intentions of 16 Large, Global Organizations for ECA Software"
- Last week an update to our ECA vendor report was published (60 vendors listed, 20 profiled, and 8 named as ECA Emerging Leaders)
- Both reports are available here