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Corporate Reporting: Climate Change
& Related Environmental Disclosures
STEFAN REICHENBACH
GLOBAL HEAD OF ENVIRONMENTAL MARKETS, THOMSON REUTERS
28 JANUARY 2009
The Economic Crisis
“Private regulation generally has proved far better at
constraining excessive risk-taking than has
government regulation.''
Alan Greenspan, May 2005
"Those of us who have looked to the self-interest of
lending institutions to protect shareholder's equity myself especially - are in a state of shocked
disbelief."
Alan Greenspan, October 2008
Climate Change Costs & Risk Management
Source: The Stern Review
Intangible Costs
Components of S&P 500 Market Value
100.0%
16.8%
32.4%
80.0%
68.4%
60.0%
40.0%
79.7%
83.2%
67.6%
20.0%
31.6%
20.3%
0.0%
1975
1985
Tangible Assets
1995
2005
Intangible Assets
Source: Reuters analysis
Corporate Reporting: Climate Change
& Related Environmental Disclosures
STEFAN REICHENBACH
GLOBAL HEAD OF ENVIRONMENTAL MARKETS, THOMSON REUTERS
28 JANUARY 2009