Oil firms 'failure', Coca-Cola hits water goal, GSK tops Change the World list and GM turns bottles into coats
Oil firms ‘fail to report on climate change risks’
Two major UK oil companies, SOCO International and Cairn Energy, are failing to disclose details of climate change risks to stakeholders, according to the international environmental law firm ClientEarth.
ClientEarth argues the two oil and gas exploration and development companies did not include material climate-related issues in their strategic reports, leaving investors in the dark as to the true risks of climate change to their business.
“This information is vital for investors. Without it they simply cannot make a fully informed investment decision,” says Alice Garton, a lawyer from ClientEarth.
The lack of disclosure prompted the environmental law firm to issue an alert to the UK Financial Reporting Council, which oversees companies’ reporting compliance, urging it to examine reporting activities by SOCO and Cairn.
Both companies have denied the allegations and maintain their disclosures are fully law abiding.
Coca-Cola first Fortune 500 company to replenish water
The Coca-Cola Company has become the first Fortune 500 company to fully replenish the water it uses in its products around the world.
The world’s largest soft drinks supplier announced at World Water Week in Stockholm that through 248 community partnership projects in 71 countries, it now returns the...