Press Release
Launch of ET Carbon Ranking
Monday 22.02.2010 saw the launch of the Environmental Investment Organisation's new Global Carbon Rankings. For the first time a Ranking has been created which penalises and rewards companies on a global scale against absolute emissions with a particular emphasis on the reliability of the data being provided.
The effect of the Rankings is first and foremost to encourage disclosure and verification amongst companies. It will then begin to create incentives for companies to reduce their emissions through share price pressure.
Over the coming months the Environmental Investment Organisation will be working with the investment community to put the final touches to its Environmental Tracking (ET) Index Series so as to make them as attractive as possible to large scale index investors.
Michael Gill, chairman of the EIO and former City analyst points out: "due to the way the indexes have been designed - that is to replicate traditional mainstream indexes with minimum tracking error whilst still applying sufficient pressure to companies to reduce their emissions - we expect the investment community to respond well to this new product which offers them a tool harness the power of the financial system in tackling climate change."
A Pres Pack in PDF form including some of the highlights from the Rankings can also be viewed by clicking here
"Innovative new products like this are exactly what is needed to support the transition to a low carbon economy. It's a great product and deserves to succeed." - Emily Farnworth, Senior Advisor - Finance Sector, The Climate Group. "I can see how these Carbon Indexes could become a useful part of the way in which people track corporate performance." - Jonathon Porritt, Former head of UK Sustainable Development Commission, Advisor to HRH PRINCE OF WALES "Environmental Tracking is a way of restoring power to ordinary people and changing the attitude of government and large companies." - Tony Juniper, former Director, Friends of the Earth. "I believe that here is a tool that could be as sharp as a Samurai's sword, even if it is kept away in its sheath much of the time." - Professor Herbert Girardet, Chairman Schumacher Society, Author and Film Maker, former UN Global 500 Award Winner, writing in the foreword to the original Environmental Tracking publication.