Carbon disclosure project drives forward carbon management globally



The Carbon Disclosure Project (CDP) today announced its eighth annual request for information on greenhouse gas emissions and climate change strategies to over 4,500 companies globally. Companies this year will report to CDP through an upgraded system, developed with Accenture, Microsoft and SAP, that will for the first time utilise the full power of online analysis tools to drive improved carbon management.

A global, independent, not-for-profit organisation, CDP is the world's largest institutional investor collaboration working to inform the global market place on investment risk and commercial opportunity. The number of institutional investors that signed CDP's annual request for climate change information this year has risen from 475 in 2009, to a record 534 with a combined US$64 trillion of assets under management. New signatory investors include Wells Fargo, BNY Mellon, Generali and the Industrial Bank of Korea.

CDP continues to act on investor interest in emerging markets with requests for information going to companies in the S&P/IFCI Carbon Efficient Index. This year CDP is, for the first time, writing to companies in Turkey, Peru, Morocco, Egypt and Israel as well as continuing to expand its coverage in areas such as Asia, Poland, Chile and Mexico.

In order to increase the quality of disclosure globally and drive greater use of corporate climate change information, CDP has built a new reporting system with world leading consulting and technology companies, Accenture, Microsoft and SAP. An improved questionnaire process will facilitate greater levels of analysis. In addition, CDP is providing new membership services for reporting companies that include access to comprehensive analytical tools which will increase knowledge and insight around corporate action on climate change.

Founding member companies that have piloted these new reporting tools include Con Agra, E.ON, Iberdrola, National Australia Bank, National Grid, Philips, RBS and TUI Travel. Henk de Bruin, Head of Corporate Sustainability at Philips, said: 'Measurement, reporting and verification of emissions is a vital step for organisations looking to increase awareness of the impact of climate change and improve the management of greenhouse gas emissions. The new reporting tools enable greater analysis of the CDP data to benchmark against peers and other sectors and geographies.'

This year, CDP is including a performance leadership index, developed in conjunction with its global advisor, PricewaterhouseCoopers, which was introduced as a pilot in 2009. The largest global companies reporting to CDP will receive a performance score based on the actions they have taken to address climate change in a strategic manner incorporating such areas as emissions reduction targets, achieved and expected emissions reductions, governance structures and employee incentives. Points will also be awarded to companies that have had their data externally verified, in order to drive greater levels of verification.

CDP's Chief Executive Paul Dickinson concludes: 'This is an exciting year for CDP, with record levels of support from institutional investors. Our improved reporting system, new performance index, and greater global coverage will help us continue to increase transparency and awareness of corporate climate change action around the world which, critically, enables organisations to make performance improvements.'

CDP now operates in Argentina, Australia, Brazil, Canada, Chile, China, Croatia, Czech Republic, Denmark, Egypt, Estonia, Finland, France, Germany, Hong Kong, Hungary, India, Indonesia, Ireland, Israel, Italy, Japan, Latvia, Lithuania, Malaysia, Morocco, Mexico, the Netherlands, New Zealand, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Serbia and Montenegro, Singapore, Slovakia, Slovenia, South Africa, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, Turkey, UK, USA.

The carbon performance leadership index will not replace but complement the existing carbon disclosure leadership index, which assesses the quality of companies' reporting and carbon management strategies.

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