Rise in climate change disclosures comes to a haltOctober 2008
The number of large companies disclosing information on their carbon emissions has stalled at last year’s level, reports the Carbon Disclosure Project (CDP).
The proportion of the world’s largest 500 companies responding to the CDP was 77 per cent this year, exactly as in 2007. It is the first time in six years that the percentage supplying the information has not risen.
Among companies that declined to participate or failed to respond were Accenture, Amazon.com, Heidelberg Cement, Gazprom, and Lukoil.
The CDP said the levelling-out might be due to the ‘backdrop of regulatory uncertainty’ with regard to carbon pricing policy, which was causing executives to delay strategic decisions.
A further factor had been ‘substantial’ changes in the composition of the Global 500 listing. Of the 383 companies that completed the questionnaire, 58 responded for the first time. European and North American companies set the pace, with 83 and 82 per cent response rates respectively (73 and 83 per cent in 2007). Only half of Asian Global 500 companies responded.
The statistics indicate that Global 500 reporting companies collectively account for 5.8 per cent of total global emissions, and three in four had emissions reduction targets in place.
Utilities performed well, but the oil and gas sector, having been an early adopter of carbon reporting, is now falling behind, achieving only sixth place within its carbon-intensive peer group.
The London-based CDP, formed in 2000, is supported by 385 institutional investors with assets under management of $57,000billion (£31,800bn). Companies are asked to disclose greenhouse emissions and steps being taken to manage them.
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