Two major coal operators have been named to a “Climate Watch List” of companies that are lagging behind their industry peers in responding to the business challenges presented by global climate change.
“These climate watch companies are ignoring a major business trend that will influence their competitive position for years to come,” said Mindy S. Lubber, president of CERES. “Given the political shift in Washington, all companies should be minimizing climate risks and maximizing clean energy opportunities. Companies that miss this trend are setting themselves up to fail in the 21st century low-carbon economy.”
Here’s what the watch list had to say about CONSOL:
Given that coal combustion accounts for about one-third of all greenhouse gas (GHG) emissions in the U.S. and given the growing regulatory momentum to reduce emissions from power plants, the New York City Pension Funds filed a resolution with the Pittsburgh-based company requesting a report on how the company is responding to growing regulatory and competitive pressure to significantly reduce GHG emissions. CONSOL is the nationâ€™s largest bituminous coal producer.
And here’s what it said about Massey:
The Virginia-based coal company continues to resist shareholder resolutions requesting the company to develop and disclose a strategy for responding to climate change. Thirty percent of shareholders voted in favor of the resolution last year. Given that coal combustion accounts for about one-third of all GHG emissions in the U.S., the New York City Pension Funds filed a resolution, for the third consecutive year, requesting a report on how the company is responding to growing regulatory and competitive pressure to reduce GHG emissions. Massey is the nationâ€™s 4th largest coal producer.