Analysis - COMPANIES RISE TO THE CARBON CHALLENGE

Many British businesses have vowed to undertake major environmental programs in 2007. These include Marks & Spencer and Tesco, both of whom have recently announced their pledge to significantly reduce their firms´ carbon emissions. Representatives from the London Stock Exchange, Barclays, Shell UK, Corus, British Airways and McKinsey have also committed to participating in a CBI task force to study the Stern Review, the government-funded report on the economic impact of climate change. In addition, the government has announced plans for a gold standard, a voluntary standard and code of practice to help consumers and businesses navigate the available carbon offsetting options. While campaigners are pleased with this development, they believe an economy-wide response from the UK industry is still needed