The World Bank’s Vice President for Sustainable Development announced September 12 that while global companies are increasing their efforts to reduce carbon emissions and prepare for climate change impacts, government leaders have mostly delayed policy actions such as carbon taxes that are critical for addressing the challenge. According to the Global 500 Climate Change Report 2012, based on survey responses by 379 global companies, about 78 percent of the world’s top 500 global companies are integrating climate change into their business strategies this year, up from 68 percent last year; 82 percent have set emission reduction targets. In another September 12 report, based on a survey of S&P 500 firms, Accelerating Progress Toward a Lower-Carbon Future, the Carbon Disclosure Project found that 61 companies have set emission reduction targets.