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Companies Aren't Waiting for Congress to Act on Climate Change

The first far-reaching climate-change bill is heading for the Senate floor, heating up the debate in Congress and in corporate boardrooms about the potential impact of stricter regulations

By Staff Writer | Updated on May 20, 2008

The first far-reaching climate-change bill is headed for the Senate floor after Labor Day, heating up the debate in Congress and in corporate boardrooms about the costs and benefits of stricter environmental regulations. The Climate Security Act, spearheaded by Joseph Lieberman (I-Conn.) and John Warner (R.-Va.), would reduce greenhouse emissions 65% by 2050. The Chamber of Commerce is campaigning against the bill and mandated standards, while other corporate leaders favor increased regulation because, they say, it’s good for the environment and it’s good for the bottom line.

It’s too early to determine the outcome, but even opponents recognize the issue won’t go away any time soon. The word “sustainability,” code for the ability to tackle environmental, social and economic concerns and risks through automation, has become part of the corporate governance vernacular. Up to now, though, the technology hasn’t been available to address these issues in a systematic way. “While most executives agree that a green strategy is a good idea, few know how to value or prioritize their initiatives,” says Kimberly Knickle, practice director of IDC Manufacturing Insights. “They struggle with the business case, waiting to implement strategies until outcomes can be predicted more reliably.”

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