Study: U.S. firms ignoring global warming

An environmental report from the Ceres organization indicates European and Asian firms are more attentive to global warming than American businesses.

The report from the Boston-based coalition of investors and environmentalists analyzes how 100 leading companies are addressing the growing financial risks and opportunities presented by global warming.

The report, among other things, found 74 of the 100 companies surveyed are based in the United States. All the businesses were queried on their strategies for curbing greenhouse gases.

The report covered 10 industries -- oil and gas, chemicals, metals, electric power, automotive, forest products, coal, food, industrial equipment and airlines.

The chemical industry received the highest overall marks, with a score of 51.9 out of a possible 100, The New York Times reported, while airlines ranked lowest with a score of 16.6. UAL, the parent of United Airlines, received only 3 points.

The Ceres report said U.S. companies "are playing catch-up" with their international competitors, such as BP, Toyota, Alcan, and Unilever.

"Dozens of U.S. businesses are ignoring the issue with 'business as usual' responses that are putting their companies, and their shareholders, at risk," said Mindy Lubber, president of Ceres.

Copyright 2006 by United Press International

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