'What is driving climate change action in the world's largest companies?' asks the Report by the CDP (Carbon Disclosure Project) in its Global 500 Climate Change Report 2013. Findings showed that 50 companies - 10% of the Global 500, produced 73% of the planet's greenhouse gases.
The report, released September 12th, is co-written by CDP and PwC (Price WaterhouseCoopers International Limited) and is stated to be an authoritative evaluator of corporate progress on climate change. It assesses many global economy sectors like Energy, Industrials, Healthcare, Information Technology and Utilities climate performance scores against the Global 500 average.
The 50 largest emitters of the 500 largest listed companies in the world produce almost three-quarters of the group's 3.6 billion metric tons of greenhouse gas (GHG) emissions. These companies operate mainly in the energy, materials and utilities sectors.
Paul Simpson, CEO at CDP, said, 'Many countries are demonstrating signs of recovery following the global economic downturn.
However, clear scientific evidence and increasingly severe weather events are sending strong signals that we must pursue routes to economic prosperity whilst reducing emissions of greenhouse gases.
It is imperative that big emitters improve their performance in this regard and governments provide more incentives to make this happen.'
The CDP Report identifies some companies that have demonstrated a strong commitment to managing their impact on the environment and generated improved financial and environmental results: BMW, Nestle and Cisco Systems.
Another reported strategy to reduce energy consumption and carbon emissions implemented by businesses was to offer employees monetary incentives. Those companies were 18% more successful at realizing reductions in their operations.
Learn more: CDP Global 500 Climate Change Report 2013
Regulating greenhouse gas emissions will be a featured topic at GLOBE 2014, the next in the celebrated GLOBE Series of Conferences and Trade Fairs on the business of the environment taking place in Vancouver Canada, March 26-28, 2014. Reserve your place now. Check here for more details. Check here for the GLOBE 2014 Preliminary Conference Program