24/09/2007

Meeting the carbon challenge: Reality or Rhetoric?

Are carbon management initiatives really proving effective in reducing UKemissions? Should taxation initiatives such as road user charging and higher aviation taxes come into play? Are the government's proposed measures short-term and do they address the challenge of changing behaviour at a fundamental level? Are companies using low impact initiatives as PR vehicles? What is the role of business, not only in reducing its own emissions, but in helping to shape future policy?

These and other issues relating to carbon management will be debated at a Standard Life Investments sponsored fringe event at this year's Labour Party Annual Conference. Roger East, Editor of Green Futures will chair the debate – ‘Meeting the Carbon Challenge: Reality or Rhetoric?'

Speakers at the event will include:

• Julie McDowell, Head of Socially Responsible Investment, Standard Life Investments
• Sir John Harman, Chairman, Environment Agency
• Tony Ginty, Head of Public Affairs, Marks & Spencer
• David Cairns, MP, Minister of State for Scotland

Speaking ahead of the debate, Julie McDowell, Head of Socially Responsible Investment, Standard Life Investments, said:

“The issue of climate change continues to dominate the public agenda, requiring companies to demonstrate the steps they are taking to reduce their carbon footprint. Increasingly, companies are purchasing carbon offsets to show that they have a credible approach to climate change, however the volume of current carbon emissions dwarfs the available carbon off-sets. It is important to recognise that there are significant differences between regulated and voluntary offsetting schemes. Before using carbon offsetting as a business strategy companies should consider which offset schemes have greater credibility and verifiability.”

“We would encourage companies to make considered yet bold steps towards becoming environmental leaders, focusing first on energy efficiencies and improved disclosures, and to consider the advantages and disadvantages inherent in any carbon offset schemes they may choose.”

If you would like further information on Standard Life Investments' Corporate Governance and SRI policies, either in advance of or after the event, please contact: Hilda Stewart, Press Officer, Standard Life Investments, +44 (0)131 245 3610.

Alternatively, if you are accredited with a Labour Conference pass and will be attending the event, please liaise with Alan Murray (mobile +44 (0)7740 924 567) at the event and he will help facilitate an introduction to Julie McDowell, Head of SRI Research at Standard Life Investments.

Press Enquiries:
Hilda Stewart, Press Officer, Standard Life Investments, +44 (0)131 245 3610
Richard England, Press Manager, Standard Life Investments, +44 (0)131 245 2750

To access our virtual press office, please go to the address below:
http://uk.standardlifeinvestments.com/content/press/press_index.html

Notes to Editors

Only journalists accredited with passes for the Labour Conference will be able to attend this fringe event –

Date     Tuesday 25th September
Time      08:00 – 09:00
Venue     Tralee Hotel, Cork Ballroom, West Hill Road, Bournemouth City Centre, BH2 5EJ

Standard Life Healthcare will also be holding a fringe event debate at this year’s Labour Party Conference include:

Standard Life Healthcare
Our NHS: Can we talk?
Tuesday 25 September, 13:00 – 14:00
Tralee Hotel, Waterford Lower (address as above)

1. With assets under management of £140.6billion Standard Life Investments is one of the UK’s major investment houses and controls around 1.9% of the UK stock market (30.06.07).
2. Standard Life Investments was launched as an investment management company in 1998. It is a wholly owned subsidiary of Standard Life Investments (Holdings) Limited, which in turn is a wholly owned subsidiary of Standard Life plc.
3. Standard Life Investments operates in the UK, Canada, Ireland, Hong Kong and the USA, and has representative offices in Germany, France and South Korea. Standard Life Investments also operates in India through a joint venture, HDFC AMC.