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13 Dec 2007 04:12:28

Companies 'need to increase' carbon neutral commitment

Companies 'need to increase' carbon neutral commitment
While an increasing number of business leaders accept the need to work towards carbon neutrality, too few are actively seeking to do so, according to a new report.

The study, undertaken by environmental research agency Trucost, revealed that the number of companies listed on the FTSE All-Share index that were aiming to achieve carbon neutrality had increased from 11 out of 557 in 2004 to 28 this year.

However, this figure still only represents five per cent of companies on the index, the report warned, with firms offsetting just one per cent of their carbon emissions in 2006.

"While the number of companies seeking carbon neutrality has increased, it remains small. Negative media scrutiny of offsetting mechanisms may have slowed the adoption of carbon neutrality," said Julie McDowell, Head of SRI at Standard Life Investments.

"On the plus side it has also spurred efforts by Government and others to develop credible standards for voluntary carbon offset programmes which are urgently needed," she added.

Late last year, a parliamentary committee launched an inquiry into the carbon offsetting market, with the government also calling for a voluntary code of practice for the sector.ADNFCR-1235-ID-18393667-ADNFCR

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