After years of inaction, a growing number of leading U.S. companies are confronting the business challenges from global warming, recognizing that greenhouse gas limits are inevitable and that they cannot risk falling behind their international competitors in developing climate-friendly technologies.

Some U.S. companies, such as General Electric, are catching up and joining DuPont and Alcoa in leading their industries. But many others are still largely ignoring the climate issue with "business as usual" strategies that may be putting their companies and shareholders at risk.

These are among the key findings of a first-ever report issued this week by the Ceres investor coalition that analyzes how 100 leading companies are addressing the growing financial risks and opportunities from climate change -- whether from expanding greenhouse gas regulations, direct physical impacts or surging demand for climate-friendly technologies.

BP and DuPont came out #1 and #2 in the rankings.

Altogether, 76 U.S. companies and 24 non-U.S. companies in 10 business sectors are profiled in the report.

The report uses a "Climate Governance Checklist" to evaluate how major industrial corporations are addressing climate change in five broad areas: board oversight, management performance, public disclosure, greenhouse gas emissions accounting and strategic planning.

The report took nine months to complete and uses data from securities filings, company reports, company websites, third-party questionnaires and direct company communications.

Using a 100-point scoring system, the report ranked the largest companies in the oil/gas, electric power, auto, chemical, industrial equipment, mining/metals, coal, food products, forest products and air transportation sectors, with operations in the United States.

The scoring system gave most credit to companies with a sustained commitment to controlling greenhouse gas emissions, disclosing data and strategies, supporting regulatory actions, and taking practical, near-term steps to find lasting solutions to climate change.

For more background and to listen to the announcement online, visit the CERES Global Climate Change 100 webpage.

3/24/2006