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aw requiring larger companies to spend 2 percent of each year's profit on those kinds of initiatives. The law kicks in for companies with a profit of at least $80 million over the past three years.

t outlines nine "pillars" that can fulfill the requirement, one of which is "ensuring environmental sustainability," under which installing solar systems falls. This likely will incentivize more solar development because it's an area that provides businesses with a return in investment.

Companies must use a new auditor every five years and any given auditor can't serve more than two five-year terms; an auditor can't serve more than 20 companies; and auditors can be criminally liable if they knowingly or recklessly omit information in their reports.

VF Corporation — one of the world’s largest single purchasers of cotton, whose brands include Lee, Wrangler and The North Face — says much of the world’s cotton comes from areas that are expected to be impacted most by water scarcity and extreme weather  such as the Western US, China, Pakistan and India. The IPCC report makes firms’ risks associated with climate change even more clear, says Letitia Webster, VF’s director of global corporate sustainability.

“Whether in mountains or the ocean, our brands and our consumers are feeling the impacts of climate change,” which means less ski-related business for The North Face.  The company today signed Ceres’ Climate Declaration, calling on US policymakers to enact climate and clean energy policies that will benefit the economy.