Finance
The Stock Market’s CO2 Footprint Is Much Bigger Than Feared
- Generation Investment’s research includes Scope 3 emissions
- Nogales calls for ‘meaningful’ engagement from shareholders
Photographer: China Photos/Getty Images
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Publicly traded companies are responsible for roughly twice as much carbon dioxide as previously estimated, underscoring the need for shareholder activism in the fight against global warming, according to a study by Generation Investment Management LLP.
The firm, co-founded by former Vice President Al Gore, estimates that listed companies are responsible for 40% of all climate-warming emissions. It reached that conclusion by looking beyond a corporation’s own carbon footprint, known as Scope 1, and including customer emissions, known as Scope 3.