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GE, Ford Top Maplecroft Climate List; Buffett's Berkshire Last
2010-10-03 23:00:01.2 GMT
By Alex Morales
Oct. 4 (Bloomberg) -- General Electric Co., the world's
biggest maker of power-generation equipment, led a ranking of
U.S. companies based on their efforts to manage carbon
emissions, fight global warming and profit on climate rules.
GE edged out Ford Motor Co., the No. 2 U.S. automaker, and
Intel Corp., the world's largest chipmaker, to take the top spot
for a second year on the Climate Innovation Index U.S. 100,
according to Maplecroft, the U.K. risk assessment company that
calculates the measure. Billionaire investor Warren Buffett's
Berkshire Hathaway Inc. came in last.
Maplecroft rated the 100 largest public companies in the
U.S. on 100 categories including their reduction of greenhouse
gas emissions, use of new technologies, pursuit of climate-
related opportunities and disclosure of environmental policies.
"Climate change is not just about managing risks and
preparing for future regulations on carbon, but is also an
opportunity to cut costs," Dan Haglund, climate indices project
manager at Maplecroft, said in a telephone interview. "The
companies doing the most in this regard will be the future
financial winners."
Fairfield, Connecticut-based GE, with products ranging from
water heaters that cut domestic energy use to fuel-efficient
aircraft engines, was also cited for setting a price on carbon
emissions in some of its contracts.
Berkshire was rated low for its lack of disclosure on
climate-change policies, Maplecroft said. Buffett assistant
Carrie Kizer didn't immediately respond to an e-mailed request
for comment.
Buffett's Rail Purchase
Buffett's biggest acquisition, the $27 billion purchase of
railroad Burlington Northern Santa Fe Corp., is a bet on the
most efficient and "environmentally friendly" way of moving
goods in the U.S., he told Charlie Rose in November. Berkshire's
MidAmerican Energy Holdings Co. owns hydroelectric plants in the
U.S. Northwest and wind turbines in Iowa.
Maplecroft surveyed the 100 biggest U.S. companies by
market capitalization as of Aug. 18 to craft the list. A wider
ranking of more than 330 companies with market capitalizations
of more than $1 billion also was headed by GE and Ford. Alcoa
Inc., the largest U.S. aluminum producer, was ranked third on
that list.
The risk assessor said it may start exchange-traded funds
based on its Maplecroft Climate Innovation Index Benchmark.
Constituents are weighted according to their ranking. GE now
constitutes 2.45 percent of the U.S. 100 index, Ford accounts
for 2.44 percent, and Intel is 2.22 percent.
'No Evidence'
The Climate Innovation Index U.S. 100 gained 1.7 percent
for the nine months ending Sept. 30, compared with a 0.1 percent
gain for the Standard & Poor's 100 Index, a 3.5 percent rise in
the Dow Jones Industrial Average and a decline of 16 percent in
the WilderHill New Energy Global Innovation Index.
Maplecroft used publicly disclosed information such as
company sustainability reports, and then contacted all companies
with at least two follow-up emails, Haglund said. Berkshire
didn't respond, Haglund said.
"We found no evidence of any climate-related policies,
management systems, or guidance on innovation promulgated by the
Berkshire Hathaway holding company," Maplecroft said in an e-
mail. "The active investment strategy adopted by the company
constitutes a great opportunity to influence companies in which
Berkshire invests to respond, positively and proactively, to
changing political and market sentiment around climate change."
For Related News and Information:
Climate-change news: NI CLIMATE <GO>
Top environment stories: GREEN <GO>
Most-read environmental news: MNI ENV <GO>
Renewable Energy Stories: NI ALTNRG <GO>
--With assistance from Andrew Frye in New York. Editors: Mike
Anderson, Randall Hackley.
To contact the reporter on this story:
Alex Morales in London at +44-20-7330-7718 or
amorales2@bloomberg.net.
To contact the editor responsible for this story:
Reed Landberg at +44-20-7330-7862 or landberg@bloomberg.net.
