World's Top Miners Risk $10 Billion of Earnings on Carbon Cost
- New report from CDP analyzes 11 of the world's biggest miners
- Glencore a `clear laggard' on climate change metrics
Bloomberg’s Quicktake: Carbon Pricing
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The world’s biggest mining companies face a combined $10 billion risk to their earnings if carbon pricing tightens in the wake of crucial global climate talks in Paris starting next week, according to a report from U.K. non-profit organization CDP.
CDP, which says it advises institutional investors with assets of $95 trillion, ranked 11 companies on climate change-related metrics including disclosure of emission-reduction targets, conducting water stress-test studies and preparing for an expected tightening of carbon regulation to emerge from the United Nations climate summit.