Bed Bath & Behind

Ceres publishes list of top 10 industry laggards on climate change

Which companies will be caught with their pants down when greenhouse-gas regulations hit? Environmental investment group Ceres has released a list of 10 U.S. corporations that shareholders say have failed to adequately plan for the climate-changed future. The list includes Wells Fargo, urged to reduce emissions from financial clients, and big-box retailer Bed Bath & Beyond, for being "unresponsive" to requests that it publicize its green goals. Listed for not investing in alternative-energy technologies were, unsurprisingly, ExxonMobil, ConocoPhillips, Massey Energy, and TXU Corp. The Ceres report coincided with investors both hither and yon filing shareholder resolutions on global-warming issues -- 42 were filed this year, compared to just 25 in 2004. The industry laggards "may be compromising their long-term competitiveness and shareholder value," says Ceres President Mindy Lubber. "We want all companies to understand the business impacts of climate change -- and plan for it accordingly."