Leading U.S. investors today named nine companies to a Climate Watch List, citing concerns that the firms are lagging behind their industry peers and are potentially undermining their long-term competitiveness in responding to the business challenges from global climate change. Investors filed shareholder resolutions with eight of the nine companies—and 49 other businesses—aimed at improving their focus and attention to the financial risks and opportunities from climate change.

The Climate Watch companies include influential coal companies, oil and power producers and other businesses that investors believe are not adequately dealing with climate-related business impacts, whether from physical changes, emerging climate regulations or growing global demand for low-carbon technologies and services. Two of the oil companies were targeted for extensive investments in Canada’s oil sands region, where carbon-intensive extraction technologies are being used to produce more than one million barrels of oil each day.

The resolutions are among a record 63 global warming resolutions filed with 56 U.S. companies and one Canadian company as part of the 2009 proxy season. The resolutions, seeking greater disclosure from companies on their financial exposure and response strategies to climate-related business trends, were filed by some of the nation’s largest public pension funds, as well as labor, foundation, religious and other institutional shareholders. The shareholder filings are coordinated by the Ceres investor coalition and the Interfaith Center on Corporate Responsibility (ICCR), a group of faith-based investors.

The Climate Watch companies include:

Electric Power: Southern
Coal: Massey Energy, Consol Energy
Oil & Gas: Ultra Petroleum, ExxonMobil, Chevron, Canadian Natural Resources
Automotive: General Motors
Home building: Standard Pacific

Read more at Ceres