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Climate Action 2008-2009

MITIGATION AND

MITIGATION AND ADAPTATION Sustainable solutions DISCLOSURE 26 Despite the economic turmoil of the moment, climate change is becoming a more strategic issue for many businesses globally. Senior management is increasingly aware of how climate change will affect business, both now and in the future. This is in part due to increased regulation. We already have the EU Emissions Trading Scheme and expect similar schemes in Australia, New Zealand and elsewhere. In the US, both Presidential candidates, Barack Obama and John McCain, have undertaken to implement a federal capand-trade system. In the UK, tighter legislation under the Carbon Reduction Commitment will affect many UK companies from 2010. Some senior managers are also choosing to act ahead of legislation by implementing tough reduction targets across their business, recognising the benefits to the bottom line as well as to company reputation. Companies operating across international borders can operate far more effectively if they are operating under the same regulatory systems. VISIT: WWW.CLIMATEACTIONPROGRAMME.ORG

MITIGATION AND ADAPTATION The recognition of risks and opportunities, beyond regulation, is a key trend in this year’s CDP responses. 74 per cent of Global 500 companies reporting to CDP are now reporting emissions reduction targets, showing companies are increasingly taking climate change mitigation seriously. DISCLOSURE 27 VISIT: WWW.CLIMATEACTIONPROGRAMME.ORG