Fewer ASX200 companies are concerned about carbon price risk and more are taking action on energy efficiency, says a new Carbon Disclosure Project analysis that praises companies including Qantas, Virgin Australia, Wesfarmers and Woolworths for improved information sharing practices.
Investors have cautioned that companies will need to explain their intent in funding carbon price campaigns and have warned that any difference between corporate rhetoric and actions will trigger 'alarm bells'.
In an Australian first, investors will put resolutions to the AGMs of Woodside and three other ASX-listed companies demanding that they reveal details of their greenhouse gas emissions and carbon policies, with 'sustainability provocateur' Paul Gilding saying businesses won't act on climate change unless investors – or governments – force them into it.
Oil and gas companies should disclose the climate research and advocacy organisations they fund and their 'strategic goals' for that funding, say new guidelines prepared by an international investor alliance.
In a market where coking coal is forecast to sell for about $200 per tonne and thermal coal for $80 in 2010-11, most coal mines will face a carbon cost of only 80 cents to $1.60 per tonne if they remain liable under the CPRS, according to a Citi analysis.
Compensating investors in coal-fired power stations means the costs of their failure to properly consider risks would be borne by taxpayers, the Investor Group on Climate Change has warned.