Delhi, India - Significantly more of India’s leading companies have signed up to voluntarily disclose carbon emissions and climate policies, a second round of reporting has shown.

The quality of reporting is up as well as the quantity, project sponsor WWF-India noted at the release of the India Carbon Disclosure Project Report 2008. (CDP-India 2008)

“The report demonstrates a positive and proactive attitude among the Indian companies towards addressing the challenges of climate change,” said Ravi Singh, Secretary General and CEO, WWF-India.

“It shows an encouraging trend that companies are not only aware of the various threats and risks presented by climate change, but are also becoming increasingly sensitive towards its commercial and financial opportunities.”

Among companies reporting for the first time are HPCL, the Fortune 500 oil refining & marketing business; the State Bank of India; Tata Power, India’s largest private sector electricity generating company; Tata Motors, one of the world’s largest manufacturers of commercial vehicles; Mahindra & Mahindra, India’s largest SUV maker; and major cement maker Ambuja Cements.

The disclosure process was carried out by WWF-India in partnership with The Carbon Disclosure Project (CDP) and the Confederation of Indian Industry’s Centre of Excellence for Sustainable Development. The Global CDP project represents 385 institutional investors with around $US 57 trillion in funds under management who view corporate responses to the climate challenge as a significant investment variable.

But while reporting by Indian companies is up from 37 in 2007 to 51 and includes some of the country’s leading and highest climate impact companies, overall reporting remains low. CDP invited some 200 companies to participate and of 61 respondents, 10 refused.

The sectors with the highest response rates were Household & Personal Products (43% of the companies contacted in the sector responded), Materials (41%) and Banks and Diversified Financials (39%), with the worst being telecommunications and consumer durables and clothing companies.

Some 80% of the companies saw existing regulatory mechanisms not as a risk but rather as an opportunity for triggering long term investment in energy efficient technologies. However, these companies do acknowledge that in future, the regulations may affect their businesses.

Three quarters of the organizations have either taken up or have planned to manage or mitigate risks due to climate change by formulating relevant policies, changing operations, design and consumption patterns as well as strengthening supply chains and shifting to cleaner fuels. However the report noted a “significantly low or almost negligible (3.4%) use of energy purchased or generated from renewable sources” and said Indian corporate use of renewable energy was “quite poor” compared to multinational companies

Around 40% of the companies acknowledge physical risks such as damage, disruption and displacement resulting due to climate change as major challenges that could result in financial losses.

Sydney, Australia - A widespread and severe coral bleaching episode is predicted to cause immense damage to some of the world’s most important marine environments over the next few months.

A report from the US Government’s National Oceanic and Atmospheric Administration (NOAA) predicts severe bleaching for parts of the Coral Sea, which lies adjacent to Australia’s Great Barrier Reef, and the Coral Triangle, a 5.4 million square kilometre expanse of ocean in the Indo-Pacific which is considered the centre of the world’s marine life.

“This forecast bleaching episode will be caused by increased water temperatures and is the kind of event we can expect on a regular basis if average global temperatures rise above 2 degrees,” said Richard Leck, Climate Change Strategy Leader for WWF’s Coral Triangle Program.

The bleaching, predicted to occur between now and February, could have a devastating impact on coral reef ecosystems, killing coral and destroying food chains. There would be severe impacts for communities in Australia and the region, who depend on the oceans for their livelihoods.

The Coral Triangle, stretching from the Philippines to Malaysia and Papua New Guinea, is home to 75 per cent of all known coral species. More than 120 million people rely on its marine resources.

“Regular bleaching episodes in this part of the world will have a massive impact on the region’s ability to sustain local communities,” said Leck. “In the Pacific many of the Small Island Developing States, such as the Solomon Islands, rely largely on the coast and coastal environments such as coral reefs for food supply. This is a region where alternative sources of income and food are limited.

“Time is crucial and Australia needs to step up to the plate. Following the government’s lack of resolve to seriously reduce future domestic carbon emissions, Australia has a huge role to play in assisting Coral Triangle countries and people to adapt to the changes in their climate.“

The Australian government this week announced a 2020 target for reducing its greenhouse gas pollution by 5 per cent, which WWF criticised as completely inadequate. Reductions of at least 25 per cent by 2020 are needed to set the world on a pathway to meaningful cuts in greenhouse pollution.

Australia’s Coral Sea, which will also be affected by coral bleaching and climate change, is a pristine marine wilderness covering almost 1,000,000 square kilometres and is extraordinarily rich in marine life, including sharks and turtles, with a series of spectacular reefs rising thousands of metres from the sea floor.

WWF is urging the Australian government to declare the Coral Sea a marine protected area, as well as working to establish a network of marine protected areas that will assist ocean environments to adapt to the changes caused by rising temperatures, and to absorb the impacts from human activity.

Delhi, India - Significantly more of India’s leading companies have signed up to voluntarily disclose carbon emissions and climate policies, a second round of reporting has shown.

The quality of reporting is up as well as the quantity, project sponsor WWF-India noted at the release of the India Carbon Disclosure Project Report 2008. (CDP-India 2008)

“The report demonstrates a positive and proactive attitude among the Indian companies towards addressing the challenges of climate change,” said Ravi Singh, Secretary General and CEO, WWF-India.

“It shows an encouraging trend that companies are not only aware of the various threats and risks presented by climate change, but are also becoming increasingly sensitive towards its commercial and financial opportunities.”

Among companies reporting for the first time are HPCL, the Fortune 500 oil refining & marketing business; the State Bank of India; Tata Power, India’s largest private sector electricity generating company; Tata Motors, one of the world’s largest manufacturers of commercial vehicles; Mahindra & Mahindra, India’s largest SUV maker; and major cement maker Ambuja Cements.

The disclosure process was carried out by WWF-India in partnership with The Carbon Disclosure Project (CDP) and the Confederation of Indian Industry’s Centre of Excellence for Sustainable Development. The Global CDP project represents 385 institutional investors with around $US 57 trillion in funds under management who view corporate responses to the climate challenge as a significant investment variable.

But while reporting by Indian companies is up from 37 in 2007 to 51 and includes some of the country’s leading and highest climate impact companies, overall reporting remains low. CDP invited some 200 companies to participate and of 61 respondents, 10 refused.

The sectors with the highest response rates were Household & Personal Products (43% of the companies contacted in the sector responded), Materials (41%) and Banks and Diversified Financials (39%), with the worst being telecommunications and consumer durables and clothing companies.

Some 80% of the companies saw existing regulatory mechanisms not as a risk but rather as an opportunity for triggering long term investment in energy efficient technologies. However, these companies do acknowledge that in future, the regulations may affect their businesses.

Three quarters of the organizations have either taken up or have planned to manage or mitigate risks due to climate change by formulating relevant policies, changing operations, design and consumption patterns as well as strengthening supply chains and shifting to cleaner fuels. However the report noted a “significantly low or almost negligible (3.4%) use of energy purchased or generated from renewable sources” and said Indian corporate use of renewable energy was “quite poor” compared to multinational companies

Around 40% of the companies acknowledge physical risks such as damage, disruption and displacement resulting due to climate change as major challenges that could result in financial losses.

Sydney, Australia - A widespread and severe coral bleaching episode is predicted to cause immense damage to some of the world’s most important marine environments over the next few months.

A report from the US Government’s National Oceanic and Atmospheric Administration (NOAA) predicts severe bleaching for parts of the Coral Sea, which lies adjacent to Australia’s Great Barrier Reef, and the Coral Triangle, a 5.4 million square kilometre expanse of ocean in the Indo-Pacific which is considered the centre of the world’s marine life.

“This forecast bleaching episode will be caused by increased water temperatures and is the kind of event we can expect on a regular basis if average global temperatures rise above 2 degrees,” said Richard Leck, Climate Change Strategy Leader for WWF’s Coral Triangle Program.

The bleaching, predicted to occur between now and February, could have a devastating impact on coral reef ecosystems, killing coral and destroying food chains. There would be severe impacts for communities in Australia and the region, who depend on the oceans for their livelihoods.

The Coral Triangle, stretching from the Philippines to Malaysia and Papua New Guinea, is home to 75 per cent of all known coral species. More than 120 million people rely on its marine resources.

“Regular bleaching episodes in this part of the world will have a massive impact on the region’s ability to sustain local communities,” said Leck. “In the Pacific many of the Small Island Developing States, such as the Solomon Islands, rely largely on the coast and coastal environments such as coral reefs for food supply. This is a region where alternative sources of income and food are limited.

“Time is crucial and Australia needs to step up to the plate. Following the government’s lack of resolve to seriously reduce future domestic carbon emissions, Australia has a huge role to play in assisting Coral Triangle countries and people to adapt to the changes in their climate.“

The Australian government this week announced a 2020 target for reducing its greenhouse gas pollution by 5 per cent, which WWF criticised as completely inadequate. Reductions of at least 25 per cent by 2020 are needed to set the world on a pathway to meaningful cuts in greenhouse pollution.

Australia’s Coral Sea, which will also be affected by coral bleaching and climate change, is a pristine marine wilderness covering almost 1,000,000 square kilometres and is extraordinarily rich in marine life, including sharks and turtles, with a series of spectacular reefs rising thousands of metres from the sea floor.

WWF is urging the Australian government to declare the Coral Sea a marine protected area, as well as working to establish a network of marine protected areas that will assist ocean environments to adapt to the changes caused by rising temperatures, and to absorb the impacts from human activity.

Delhi, India - Significantly more of India’s leading companies have signed up to voluntarily disclose carbon emissions and climate policies, a second round of reporting has shown.

The quality of reporting is up as well as the quantity, project sponsor WWF-India noted at the release of the India Carbon Disclosure Project Report 2008. (CDP-India 2008)

“The report demonstrates a positive and proactive attitude among the Indian companies towards addressing the challenges of climate change,” said Ravi Singh, Secretary General and CEO, WWF-India.

“It shows an encouraging trend that companies are not only aware of the various threats and risks presented by climate change, but are also becoming increasingly sensitive towards its commercial and financial opportunities.”

Among companies reporting for the first time are HPCL, the Fortune 500 oil refining & marketing business; the State Bank of India; Tata Power, India’s largest private sector electricity generating company; Tata Motors, one of the world’s largest manufacturers of commercial vehicles; Mahindra & Mahindra, India’s largest SUV maker; and major cement maker Ambuja Cements.

The disclosure process was carried out by WWF-India in partnership with The Carbon Disclosure Project (CDP) and the Confederation of Indian Industry’s Centre of Excellence for Sustainable Development. The Global CDP project represents 385 institutional investors with around $US 57 trillion in funds under management who view corporate responses to the climate challenge as a significant investment variable.

But while reporting by Indian companies is up from 37 in 2007 to 51 and includes some of the country’s leading and highest climate impact companies, overall reporting remains low. CDP invited some 200 companies to participate and of 61 respondents, 10 refused.

The sectors with the highest response rates were Household & Personal Products (43% of the companies contacted in the sector responded), Materials (41%) and Banks and Diversified Financials (39%), with the worst being telecommunications and consumer durables and clothing companies.

Some 80% of the companies saw existing regulatory mechanisms not as a risk but rather as an opportunity for triggering long term investment in energy efficient technologies. However, these companies do acknowledge that in future, the regulations may affect their businesses.

Three quarters of the organizations have either taken up or have planned to manage or mitigate risks due to climate change by formulating relevant policies, changing operations, design and consumption patterns as well as strengthening supply chains and shifting to cleaner fuels. However the report noted a “significantly low or almost negligible (3.4%) use of energy purchased or generated from renewable sources” and said Indian corporate use of renewable energy was “quite poor” compared to multinational companies

Around 40% of the companies acknowledge physical risks such as damage, disruption and displacement resulting due to climate change as major challenges that could result in financial losses.

Sydney, Australia - A widespread and severe coral bleaching episode is predicted to cause immense damage to some of the world’s most important marine environments over the next few months.

A report from the US Government’s National Oceanic and Atmospheric Administration (NOAA) predicts severe bleaching for parts of the Coral Sea, which lies adjacent to Australia’s Great Barrier Reef, and the Coral Triangle, a 5.4 million square kilometre expanse of ocean in the Indo-Pacific which is considered the centre of the world’s marine life.

“This forecast bleaching episode will be caused by increased water temperatures and is the kind of event we can expect on a regular basis if average global temperatures rise above 2 degrees,” said Richard Leck, Climate Change Strategy Leader for WWF’s Coral Triangle Program.

The bleaching, predicted to occur between now and February, could have a devastating impact on coral reef ecosystems, killing coral and destroying food chains. There would be severe impacts for communities in Australia and the region, who depend on the oceans for their livelihoods.

The Coral Triangle, stretching from the Philippines to Malaysia and Papua New Guinea, is home to 75 per cent of all known coral species. More than 120 million people rely on its marine resources.

“Regular bleaching episodes in this part of the world will have a massive impact on the region’s ability to sustain local communities,” said Leck. “In the Pacific many of the Small Island Developing States, such as the Solomon Islands, rely largely on the coast and coastal environments such as coral reefs for food supply. This is a region where alternative sources of income and food are limited.

“Time is crucial and Australia needs to step up to the plate. Following the government’s lack of resolve to seriously reduce future domestic carbon emissions, Australia has a huge role to play in assisting Coral Triangle countries and people to adapt to the changes in their climate.“

The Australian government this week announced a 2020 target for reducing its greenhouse gas pollution by 5 per cent, which WWF criticised as completely inadequate. Reductions of at least 25 per cent by 2020 are needed to set the world on a pathway to meaningful cuts in greenhouse pollution.

Australia’s Coral Sea, which will also be affected by coral bleaching and climate change, is a pristine marine wilderness covering almost 1,000,000 square kilometres and is extraordinarily rich in marine life, including sharks and turtles, with a series of spectacular reefs rising thousands of metres from the sea floor.

WWF is urging the Australian government to declare the Coral Sea a marine protected area, as well as working to establish a network of marine protected areas that will assist ocean environments to adapt to the changes caused by rising temperatures, and to absorb the impacts from human activity.

Strasbourg / Brussels – Today the European Parliament accepted the compromise agreement on climate change hammered out last week by EU Heads of State and Government. The deal is said to cut greenhouse gas emissions by 20% by 2020 compared to 1990.

WWF says that, far from being an example for the world, the package is poisoned by the large amount of carbon credits allowed from non-European countries instead of focusing on actions within Europe.

“This is not quite the third industrial revolution trumpeted when proposals were presented at the beginning of the year,” says Delia Villagrasa, Senior Advisor to WWF.

“The 20% target sounds nice in words, but is void because EU countries are allowed to accomplish approximately three quarters of the effort outside EU borders, which translates into European emission reduced by only 4 to 5% between now and 2020”.

WWF is disappointed by the last minute intervention of EU Heads of State and Government to impose a minimal “take or break” deal, which significantly reduced possibilities for the European Parliament to improve decisions.

The deal is clearly not sufficient to confront the climate change challenge, nor to comply with the EU’s stated objective to keep global warming below 2 degrees Celsius compared to pre-industrial levels. On the contrary, if the entire world behaved like the EU, the planet would be well on its way to losing Greenland’s ice sheet, with many cities threatened by sea level rise.

Last week, at the UN climate summit in Poznan, the EU urged all industrialised nations to cut emissions by 30% by 2020 below 1990 levels. “The EU decision today is far below that ambition and is cheating both the climate and the people,” says Stephan Singer, Director of the WWF’s Global Energy Programme.

WWF calls on European countries to undertake maximum reductions domestically and to not use external credits. With strong regulations on energy efficiency and renewable energy the 20% target is easily achievable within the borders of Europe.

Notes to the editors:
The EU agreed to cut its greenhouse gas emissions by 20% below 1990 levels, but the reality is that the EU will have to reduce its own domestic emissions by a mere 4-5% between now and 2020. Between 1990 and 2006, the EU had reduced its emissions by about 8% (European Environment Agency, 2008) therefore there are about 12% emissions cuts to be achieved by 2020.

The proposed reductions between now and 2020 are split into the Directive on Emissions Trading, covering mainly large carbon emitters such as coal-fired power stations and steel smelters, and the Directive on the Effort Sharing, covering all other sectors and all other greenhouse gases. Both Directives allow for substantive use of Clean Development Mechanism (CDM) credits. The Effort Sharing Directive allows CDM credits by up to 80% and the Emissions Trading Directive by up to 50%. To sum up, this will reduce the remaining effort to be undertaken by the EU27 between now and 2020 to much less than half of the 12% emission reductions.

For further information:
Delia Villagrasa, Senior Advisor to WWF
Mobile: +32 486 440 223
E-mail: dvillagrasa@wwfepo.org

Claudia Delpero, Communications Manager at WWF
Tel: +32 2 740 09 25
E-mail: cdelpero@wwfepo.org

Strasbourg / Brussels – Today the European Parliament accepted the compromise agreement on climate change hammered out last week by EU Heads of State and Government. The deal is said to cut greenhouse gas emissions by 20% by 2020 compared to 1990.

WWF says that, far from being an example for the world, the package is poisoned by the large amount of carbon credits allowed from non-European countries instead of focusing on actions within Europe.

“This is not quite the third industrial revolution trumpeted when proposals were presented at the beginning of the year,” says Delia Villagrasa, Senior Advisor to WWF.

“The 20% target sounds nice in words, but is void because EU countries are allowed to accomplish approximately three quarters of the effort outside EU borders, which translates into European emission reduced by only 4 to 5% between now and 2020”.

WWF is disappointed by the last minute intervention of EU Heads of State and Government to impose a minimal “take or break” deal, which significantly reduced possibilities for the European Parliament to improve decisions.

The deal is clearly not sufficient to confront the climate change challenge, nor to comply with the EU’s stated objective to keep global warming below 2 degrees Celsius compared to pre-industrial levels. On the contrary, if the entire world behaved like the EU, the planet would be well on its way to losing Greenland’s ice sheet, with many cities threatened by sea level rise.

Last week, at the UN climate summit in Poznan, the EU urged all industrialised nations to cut emissions by 30% by 2020 below 1990 levels. “The EU decision today is far below that ambition and is cheating both the climate and the people,” says Stephan Singer, Director of the WWF’s Global Energy Programme.

WWF calls on European countries to undertake maximum reductions domestically and to not use external credits. With strong regulations on energy efficiency and renewable energy the 20% target is easily achievable within the borders of Europe.

Notes to the editors:
The EU agreed to cut its greenhouse gas emissions by 20% below 1990 levels, but the reality is that the EU will have to reduce its own domestic emissions by a mere 4-5% between now and 2020. Between 1990 and 2006, the EU had reduced its emissions by about 8% (European Environment Agency, 2008) therefore there are about 12% emissions cuts to be achieved by 2020.

The proposed reductions between now and 2020 are split into the Directive on Emissions Trading, covering mainly large carbon emitters such as coal-fired power stations and steel smelters, and the Directive on the Effort Sharing, covering all other sectors and all other greenhouse gases. Both Directives allow for substantive use of Clean Development Mechanism (CDM) credits. The Effort Sharing Directive allows CDM credits by up to 80% and the Emissions Trading Directive by up to 50%. To sum up, this will reduce the remaining effort to be undertaken by the EU27 between now and 2020 to much less than half of the 12% emission reductions.

For further information:
Delia Villagrasa, Senior Advisor to WWF
Mobile: +32 486 440 223
E-mail: dvillagrasa@wwfepo.org

Claudia Delpero, Communications Manager at WWF
Tel: +32 2 740 09 25
E-mail: cdelpero@wwfepo.org

Strasbourg / Brussels – Today the European Parliament accepted the compromise agreement on climate change hammered out last week by EU Heads of State and Government. The deal is said to cut greenhouse gas emissions by 20% by 2020 compared to 1990.

WWF says that, far from being an example for the world, the package is poisoned by the large amount of carbon credits allowed from non-European countries instead of focusing on actions within Europe.

“This is not quite the third industrial revolution trumpeted when proposals were presented at the beginning of the year,” says Delia Villagrasa, Senior Advisor to WWF.

“The 20% target sounds nice in words, but is void because EU countries are allowed to accomplish approximately three quarters of the effort outside EU borders, which translates into European emission reduced by only 4 to 5% between now and 2020”.

WWF is disappointed by the last minute intervention of EU Heads of State and Government to impose a minimal “take or break” deal, which significantly reduced possibilities for the European Parliament to improve decisions.

The deal is clearly not sufficient to confront the climate change challenge, nor to comply with the EU’s stated objective to keep global warming below 2 degrees Celsius compared to pre-industrial levels. On the contrary, if the entire world behaved like the EU, the planet would be well on its way to losing Greenland’s ice sheet, with many cities threatened by sea level rise.

Last week, at the UN climate summit in Poznan, the EU urged all industrialised nations to cut emissions by 30% by 2020 below 1990 levels. “The EU decision today is far below that ambition and is cheating both the climate and the people,” says Stephan Singer, Director of the WWF’s Global Energy Programme.

WWF calls on European countries to undertake maximum reductions domestically and to not use external credits. With strong regulations on energy efficiency and renewable energy the 20% target is easily achievable within the borders of Europe.

Notes to the editors:
The EU agreed to cut its greenhouse gas emissions by 20% below 1990 levels, but the reality is that the EU will have to reduce its own domestic emissions by a mere 4-5% between now and 2020. Between 1990 and 2006, the EU had reduced its emissions by about 8% (European Environment Agency, 2008) therefore there are about 12% emissions cuts to be achieved by 2020.

The proposed reductions between now and 2020 are split into the Directive on Emissions Trading, covering mainly large carbon emitters such as coal-fired power stations and steel smelters, and the Directive on the Effort Sharing, covering all other sectors and all other greenhouse gases. Both Directives allow for substantive use of Clean Development Mechanism (CDM) credits. The Effort Sharing Directive allows CDM credits by up to 80% and the Emissions Trading Directive by up to 50%. To sum up, this will reduce the remaining effort to be undertaken by the EU27 between now and 2020 to much less than half of the 12% emission reductions.

For further information:
Delia Villagrasa, Senior Advisor to WWF
Mobile: +32 486 440 223
E-mail: dvillagrasa@wwfepo.org

Claudia Delpero, Communications Manager at WWF
Tel: +32 2 740 09 25
E-mail: cdelpero@wwfepo.org

London, England - WWF-UK has welcomed a call from the British shipping industry for a global emissions trading scheme which would help to combat greenhouse gases.

The British Chamber of Shipping yesterday became the first major global shipping body to call for such a solution. It claims a scheme of this nature would combat carbon emissions more effectively than regional schemes operated by the European Union.

The trade body said it recognised that there was no effective way to include shipping in a national carbon emissions scheme because of the very nature of seaborne trade, and that trading emissions were the only practical solution. A UN International Maritime Organisation report shows that shipping accounts for close to 3 per cent of global CO2 emissions.

“I am very pleased that the UK shipping industry is advocating an emissions trading system for ships and I look forward to working with them to refine and build support for the proposal,” said Peter Lockley, Head of Transport Policy WWF-UK.

“If designed well, the scheme would put a price on maritime carbon emissions, speeding up the drive for cleaner ships and helping to pay for low-carbon development in poorer countries. It would position shipping as a progressive and responsible industry, and I very much hope that it will be part of a global climate change deal next year in Copenhagen.”

Martin Watson, president of the UK Chamber of Shipping which represents some 860 merchant ships that trade internationally, said that UK shipping “must make a significant contribution” in battling carbon emissions. He described his organisation’s latest move as “a bold and far-reaching decision that gives a lead to the rest of the shipping world”.

“This is the first association to come out and support emissions trading in an effort to try and rally sister associations around the world ahead of the 2009 Climate Change Conference in Copenhagen,” said John Stevenson, another spokesman for the Chamber of Shipping.