CDP: Report on investors’ tackling climate change
The results were launched in New York during Climate Week at an event hosted by Bank of America Merrill Lynch, one of CDP’s global sponsors.
This year’s Global 500 Report, produced by PricewaterhouseCoopers, received the highest response rate ever from corporations (409 responses, representing 82% of the Global 500, up from 77% last year), the highest level of disclosed corporate greenhouse gas emissions and a doubling of response rates in the BRIC countries (Brazil, Russia, India, China).
Carbon Disclosure Project also launched its new performance scoring pilot methodology at this year’s Global launch, one of the first events of New York Climate Week. The performance scores measure corporations’ actual performance in responding to and reducing their contribution to climate change and is intended to complement the Carbon Disclosure Leadership Index (CDLI).
The CDLI rates firms according to the level and quality of their disclosure and reporting on greenhouse gas emissions and climate change strategy data. The companies topping the table on carbon disclosure (CDLI ratings) in 2009 are: Bayer, BASF, HSBC Holdings, Walmart and Chevron.
“Incorporating performance into CDP 2009 has been a positive step: it has provided distinction between observing and rewarding good reporting versus positive action,” says Paul Dickinson – CEO of Carbon Disclosure Project. “It will help show where risks are being managed and opportunities maximized, and provide investors with insight into how well companies are preparing to compete in a low carbon environment.”
As the United Nations Climate Change Conference in Copenhagen approaches, the report revealed that companies covered by the EU Emissions Trading Scheme (EU ETS) tend to achieve higher scores on both disclosure and performance (20% and 25% higher respectively) which may reflect the organizational rigour imposed by mandatory legislation.
WWF Russia partnered with CDP on promoting the project among 50 largest Russian companies in 2009. WWF Russia finds important raising the awareness of the Russian business community regarding the risks and opportunities of climate change and promoting low carbon benefit in the mainstream business sector.
The Carbon Disclosure Project, founded in 2000, represents some 475 global institutional investors, with more than US $55 trillion in assets under management. As an independent not-for-profit organization, CDP collects key climate change data from some 2,500 major corporations around the globe and has assembled the largest corporate greenhouse gas emissions database in the world. CDP also works with multinational organizations to facilitate the collection of climate change relevant data for their supply chain