Financial world gets into gear as carbon hits the bottom line
The financial community's interest in the climate change agenda has shifted up several gears over the past few months. Major companies are coming under renewed pressure to report on emissions and carbon management strategies. But the most immediate driver is the growing realisation that carbon constraints - and particularly the EU emissions trading scheme - will soon have a significant impact on profits. Some reports warn that the additional costs could reduce the earnings of automotive and electricity firms by perhaps 10% - but some utilities could be in for a hefty windfall.