BusinessCompany NewsHiggs warns companies on eco-policies

Higgs warns companies on eco-policies

Derek Higgs, the banker who led the recent review of corporate governance, says companies run the risk of future 'unhelpful legislation' if they do not address environmental issues such as global warming.

Link: Royal Society says Climate Change Levy must go

Speaking at the Carbon Disclosure Project – a group of 35 institutional investors – Higgs said environmental concerns should be a central issue for companies, and warned of fresh laws targeted at companies and investors if they did not take a more active role to reduce risks to the environment.

At the meeting, the Carbon Disclosure Project released a survey, which showed the world’s top 500 companies are not taking any action to deal with global warming.

In the UK, the Climate Change Levy, which taxes companies on the amount of energy they use, was introduced in April 2001.

It has, however, proved very controversial with organisations like the Royal Society and the Federation of Small Business calling for it to be scrapped.

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