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American firms lag on addressing climate-change risks, study finds

Looking for a smart 21st-century investment strategy? Consider how 100 of the world's largest companies are preparing to compete in a "carbon-constrained world." A new report from Ceres, a coalition of environmentalists and institutional investors, concludes that European and Asian firms operating in countries already regulating greenhouse-gas emissions are more prepared than their American counterparts for the financial risks and opportunities posed by global warming. DuPont scored the highest among U.S. companies, having taken steps to green its products and reduce its greenhouse pollution by 72 percent since 1990. BP rated the best among European firms for its greenhouse-gas reduction targets and its plans to invest $8 billion in clean-energy technologies. Unsurprisingly, ExxonMobil scored lowest of all major oil companies. Perhaps Exxon can take solace in its gargantuan piles of cash.