Global warming, it seems, is finally starting to heat up concern in corporate boardrooms. Driven by government regulations on climate damage such as the Kyoto Accords, plus public pressure agitated by environmental groups, global warming as emerged as one of the more prominent specific issues executives must face if they embrace the concept of corporate social responsibility.

Exactly how much companies should consider global warming—or any other large environmental issue, for that matter—while they ponder CSR and corporate strategy has vexed executives, board directors and investors alike for several years. This spring, however, capped a flurry of activity in the last year or so as a major investor research organization detailed how 100 large companies are approaching the problem.