DANBURY, Conn., July 21, 2008 — Praxair, Inc. (NYSE: PX) has been appointed to the Advisory Committee of the Climate Disclosure Standards Board (CDSB). Convened by the World Economic Forum in January 2007, the board’s mission is to advance consistency of disclosure related to climate change in annual reports. The board will develop a common global framework within which corporations would be expected to apply the same rigor, transparency and management responsibility to climate-change disclosures as are applied to financial statements and disclosures.
Working with preparers and users of climate-change information, their advisors, regulators and public interest groups, the board will build on existing reporting initiatives to create a framework that will be designed to: elicit comprehensive, consistent and comparable information for investors; offer greater certainty on disclosure requirements for corporations; and provide useful guidance for standards-setting by national regulators.
“There has been a continuing evolution in disclosure requests from various stakeholders in recent years, and we look forward to participating in the development of a tool that will generate more useful information related to climate change,” said Riva Krut, Praxair’s director of sustainability.
CDSB operates through a board whose members are the California Climate Action Registry, Carbon Disclosure Project, CERES, The Climate Group, The Climate Registry, International Emissions Trading Association, World Economic Forum and World Resources Institute. Decisions on CDSB’s work are made by the board in full consultation with the Advisory Committee.
The Advisory Committee is made up of leading industrial, financial services and accounting firms as well as a number of distinguished governmental and non-governmental representatives. Other corporate members of the Advisory Committee are Alcan, American International Group, BP, Capital Group, Duke Energy, Royal Dutch Shell, JP Morgan Chase, Swiss Re, Tokyo Electric Power Company, SUN Group and Institutional Investors Group on Climate Change.
Praxair is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2007 sales of $9.4 billion. Praxair products, services and technologies bring productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and others. More information on Praxair is available on the Internet at www.praxair.com.
Susan Szita Gore