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Category: Investment, Water, Semiconductors, Chemicals, Electric Power, Homebuilding, Mining, Oil & Gas, Beverages and Food
LEAVING INVESTORS HIGH & DRY? NEW REPORT TO SHOW LARGEST COMPANIES FALL SHORT IN DISCLOSING, MANAGING GROWING WATER-SCARCITY RISKS
Highlighted Sectors: Semiconductors, Chemicals, Electric Power, Homebuilding, Mining, Oil & Gas, Beverages and Food
BOSTON - February 9, 2010 - Despite growing water-scarcity challenges in the U.S. and abroad, the vast majority of companies in water-intensive sectors - such as beverages electric power and semiconductors - are falling short in managing and disclosing water-related risks to investors, according to a new Ceres report that will be the subject of a phone-based press conference at 11 a.m. EST Thursday, Feb. 11.
The report analyzed and ranked water disclosure practices of 100 leading companies in eight sectors exposed to water-related risks: beverage, chemicals, electric power, food, homebuilding, mining, oil & gas, and semiconductors. The report, based on voluntary and mandatory corporate reporting through June 30, 2009, was done in collaboration with financial information provider Bloomberg and financial services firm UBS.
The report was prepared for the Investor Network on Climate Risk (INCR), a network of 80-plus pension funds and other institutional investors managing $8 trillion of collective assets.
Speakers at the 11 a.m. EST news event will include:
- Mindy Lubber, president of Ceres and director of the Investor Network on Climate Risk;
- Jack Ehnes, chief executive officer at the California State Teachers Retirement System (CalSTRS), the nation's second largest public pension fund;
- Shirley Morgan-Knott, analyst/SRI and sustainability research at UBS; and
- Edward Fox, vice president and chief sustainability officer at Pinnacle West, which owns Arizona Public Services.
TO PARTICIPATE: You can join this live, phone-based news conference (with full, two-way Q&A) at 11 a.m. EST on February 11, 2010 by dialing 1 (800) 860-2442. Ask for the “Ceres Water Disclosure" news event.
CAN'T PARTICIPATE?: A streaming audio recording of the news event will be available on the Web as of 6 p.m. EST on February 11, 2010 at http://www.ceres.org.
CONTACT: Peyton Fleming, Ceres, at 617-733-6660 cell or fleming@ceres.org.
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