Investors target Exxon, Massey for lags on climate

[sabra]

Source: Reuters

NEW YORK, Feb 18 (Reuters) - A coalition of U.S. investors put companies including Exxon Mobil Corp and coal miner Massey Energy Co on a "Climate Watch" list on Wednesday, claiming the long-term competitiveness of the firms could be hurt by their lack of action on climate change.

"For a company in a major emitting sector ... to not be thinking about how they are going to address a regulated environment creates red flags for investors," Mindy Lubber, the president of Ceres, a Boston-based coalition of investors and environmentalists, said in an interview.

Lubber said the companies have lagged in taking action on climate change even though U.S. President Barack Obama plans to regulate emissions of gases blamed for warming the planet.

"Companies that miss this trend will be setting themselves up to fail in the 21st century low-carbon economy," she said.

Read more: http://www.alertnet.org/thenews/newsdesk/N17370307.htm

[kestrel91316]

1. Now THAT might make the corporations sit up and take notice.

Ignoring the threat of GW and the changing regulatory environment will set them up for financial failure......ABSOLUTELY CORRECT.

But you know they only care about SHORT-TERM profits. Long-range planning is beyond their abilities.

[DCKit]

2. "Ignoring the threat of GW..."

Yeah, we all know how THAT's liable to turn out.