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Corporate Social Responsibility
News
3.31.2005 ET
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Ford To Issue Report On Global Climate Change
(CSRwire)
Ford Motor Company will issue a report on climate change by the end
of the year.
The report will be developed under the direction of the company's
cross-functional, vice-presidential task force. The task force has been
working on developing strategies for addressing climate change issues.
Ford will draft its climate change report in consultation with a wide
variety of climate change and policy experts as well as with the Interfaith
Center on Corporate Responsibility (ICCR) and the Boston-based Ceres, a
coalition of investors and environmental groups and founder of the
Investor Network on Climate Risk (INCR).
DEARBORN, MI - Ford Motor Company announced today it will issue a report
on climate change by the end of the year.
The report will examine the business implications of greenhouse gas
emissions, with reference to government policies and regulations, Ford's
product and manufacturing facilities actions, and advanced technology
development.
"We have long identified climate change as a serious environmental issue,
and shareholders are increasingly asking about the risks as well as the
opportunities associated with it," said Bill Ford, chairman and CEO.
"It's time for a broader, more inclusive public dialogue on the complex
and important challenge of climate change; our report will be part of our
contribution to that dialogue."
Ford began publicly sharing its perspective on climate change in 2000 with
publication of its first corporate citizenship report. The report, which
details the company's social, economic and environmental performance, has
since been cited by external organizations for its candor in addressing
business opportunities and challenges.
The climate change report will similarly reflect an open dialogue and
document information about this issue. The report will include details on
greenhouse gas emissions from Ford products as well as its manufacturing
facilities. It will also include a strategic analysis of climate change
issues, including the potential impact of various policy and regulatory
alternatives and their implications for advanced innovations and
technological developments.
Ford will draft its climate change report in consultation with a wide
variety of climate change and policy experts as well as with the
Interfaith Center on Corporate Responsibility (ICCR) and the Boston-based
Ceres, a coalition of investors and environmental groups and founder of
the Investor Network on Climate Risk (INCR). The company has been engaged
in dialogue with ICCR, Ceres and other non-governmental organizations for
several years.
The report, which will be issued by year end, will be developed under the
direction of the cross-functional, vice-presidential task force that has
been working on strategies for addressing climate change since 2003. The
Environment and Public Policy Committee of Ford's Board of Directors will
approve the scope of the report, will review and approve the report, and
will review the report with the full Board.
"We believe long-term shareholder value and environmental responsibility
go hand-in-hand and that planning carefully and exercising leadership now
will strengthen our business and our attractiveness as an investment into
the future," said Tim O'Brien, vice president Corporate Relations,
Ford.
"Our decision to produce a climate change report is consistent with steps
being taken by Bill Ford and (Ford President and COO) Jim Padilla to
anticipate the expectations of investors and our customers for products,
services and practices that deliver environmental and social as well as
financial returns," O'Brien added.
ICCR and Ceres acknowledged Ford's decision to produce a report on climate
change as a critical step to furthering substantive discussion about the
issue.
"We congratulate Ford for leading the U.S. industry in responding to
shareholder concerns by addressing a variety of policy and business
scenarios," said Sister Patricia Daly, OP, executive director of the
Tri-State Coalition for Responsible Investment, a coalition of investors
with the Interfaith Center on Corporate Responsibility (ICCR), which has
been encouraging more climate risk disclosure from U.S. companies in
recent years.
"Climate change is an enormous business challenge for the auto sector,
which faces a double-edged threat of rising gas prices and a growing,
worldwide push for greenhouse-friendly vehicles," said Mindy S. Lubber,
president at Ceres. "Ford's commitment to pursue this report shows an
important willingness to face this challenge so that it can better
position itself competitively."
Ford is working on a variety of fronts to reduce greenhouse gas emissions.
On the vehicle front, Ford is focused on four promising technologies that
offer short-term and long-term solutions including gas-electric hybrids,
clean diesels, hydrogen internal combustion engines and hydrogen fuel
cells. Additionally, the company is developing conventional powertrain
technologies that are resulting in cleaner, more efficient vehicles.
Ford is also a leader in reducing emissions from its manufacturing plants
ahead of regulations and has targeted a 14 percent improvement in energy
efficiency across its global operations between 2000 and 2005. In the
U.S., Ford obtains 5 percent of its energy needs from green sources,
including hydropower and waste gases. The company is a founding member of
the Chicago Climate Exchange to help evaluate innovative market-driven
policy options.
About Ford
Ford Motor Company, a global automotive industry leader based in Dearborn,
Mich., manufactures and distributes automobiles in 200 markets across six
continents. With more than 318,000 employees worldwide, the company's
automotive brands include Aston Martin, Ford, Jaguar, Land Rover, Lincoln,
Mazda, Mercury and Volvo. Its automotive-related services include Ford
Credit, Quality Cars and Hertz.
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