Israeli firms asked to disclose green info to int'l group
The Carbon Disclosure Project has asked 25 Israeli firms listed on the FTSE All-World Index to supply details about their carbon footprints, including information about their carbon emissions. About 2,500 companies around the world report to CDP on their risk management in the area of global warming.
CDP is a British-based organization that provides more than 500 institutional investors with a combined portfolio of $64 trillion, with information about companies' greenhouse gas emissions and climate change policies. The FTSE All-World Index tracks the shares of 2,700 medium- to large-cap publicly traded companies around the world.
The following Israeli companies have been asked to supply information to CDP: Africa Israel, Alvarion, Bank Hapoalim, Bank Leumi, Bezeq, Blue Square-Israel, Cellcom. Clal Insurance, Delek Automotive Systems, Delek Group, Discount Investment Corp., Elbit Imaging, Given Imaging, IDB, Israel Chemicals, Israel Corporation, Koor Industries, Makhteshim Agan, Migdal, Nice Systems, Osem, Partner Communications, Paz, Perrigo Israel Pharmaceuticals and Teva Pharmaceuticals.
"Investors and financial institutions worldwide recognize the effect of global warming on companies' financial robustness," explained Noga Levtzion-Nadan, the executive director of the organization that represents CDP in Israel, Greeneye. "The risks can assume a variety of faces - from an increase in expenses as a result of regulatory changes on the national or international level, to an increase in physical damage to properties and infrastructure, to higher insurance premiums resulting from extreme climatic events stemming from global warming, to damage to a company's goodwill," she said.
Levtzion-Nadan said that the companies are asked to report to CDP on the anticipated effects on their business of climate change and local and international legislation, as well as on their risk exposure vis-a-vis environmental change, and on their corporate carbon footprint.
Investors that have signed up to CDP include Merrill Lynch, the French insurance group AXA, Banco do Brazil, Mitsubishi UFJ, AIG Investments, Barclays, RBS Group and HSBC.
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