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