CDP: Automakers Must Embrace Disruption to Remain Relevant in Low-Carbon Transition

The auto sector is facing a complete overhaul with technological disruption already well underway. In order to remain relevant in the low-carbon transition, automotive companies must rapidly adapt to address technological disruption and environmental regulation. This is the key finding of a new report from CDP, which analyzes 16 of the world’s largest publicly-listed automotive companies with a total market capitalization of $790

CDP: Inaction on Deforestation Is Putting $941B at Risk

A new report by CDP has revealed the extent to which deforestation threatens the global economy — and the numbers are staggering. According to From Risk to Revenue: The Investment Opportunity in Addressing Corporate Deforestation, 87 percent of companies identify at least one risk related to the production or consumption of forest-risk commodities (FCRs) including timber, palm oil, cattle and

EV100, EP100, RE100 Clean Energy Initiatives Continue to Grow

Corresponding with the launch of its updated Global States and Regions Annual Disclosure report in partnership with CDP and the 2017 United Nations Climate Change Conference (COP23), The Climate Group has announced new members and progress for its electric vehicles (EV100), energy productivity (EP100) and renewable electricity (RE100) campaigns. Four major businesses from three different continents — Air New Zealand, New Zealand electricity retailer and

State, Regional Governments Outshine National Counterparts on Climate Action

Corresponding with the kick off of the 23rd UN Climate Change Conference (COP23), CDP has released a new report finding that over 100 of the world’s state and regional governments are taking action to address climate change, particularly in the short-term. Key findings from the updated Global States and Regions Annual Disclosure show that sub-national governments are leading the way on climate action — which is up 80 percent in 2017 — across 10 sectors, including buildings, energy, transport and land use. On average, there was an 8.5 percent reduction in greenhouse gas emissions compared

Unilever, L’Oréal Raise the Bar on Corporate Climate Action, Topping CDP’s A-List

Global environmental disclosure platform CDP has released the results of its annual tracker of how the largest, most environmentally impactful companies are responding to climate change. Picking Up the Pace, the second edition in the annual Tracking Corporate Action on Climate Change series, finds that more companies than ever are embedding low-carbon goals into their long-term business plans and are increasingly aligning

CDP: Eight-Fold Increase in Global Companies Pricing Carbon Since 2013

Putting a price on carbon is becoming the new normal for major multinationals, with almost 1,400 companies[1] factoring an internal carbon price into business plans, according to a new report from CDP. This represents an eight-fold leap in take up in the last four years, compared to just 150 companies in 2014, and includes more than 100 Fortune Global 500 companies with collective annual revenues of US$7 trillion[2]. The research shows that more than three-quarters of the energy and utilities sectors’ market cap is currently pricing carbon internally, including US industry heavyweights such as National Grid, Exelon Corporation and PG&E Corporation. Over half of the materials and telecommunications sectors also intend to

CDP: Chemical Companies Must Do More to Meet Paris Agreement Goals

Despite making progress on climate risks, the chemical industry is failing to meet the goals outlined by the Paris Agreement, says a new report by CDP. Catalyst for Change analyses 22 of the largest global chemical companies with a total market capitalization of $650 billion and responsible for a quarter of all emissions of the sector at 276 million metric tons of CO2 emissions per year, including AkzoNobel, DuPont, BASF and The Dow Chemical Company. The report reveals rapid process innovations will be required

New CDP Research Finds Cities Catching Up to Companies on Water Security Development

International environmental reporting and data non-profit CDP has released new research in partnership with global infrastructure firm AECOM revealing that $9.5 billion worth of city water projects are now open for investment. Released for World Water Week (27 August – 1 September) the new infographic report, Who’s Tackling Urban Water Challenges?, shows the

New CDP Data Reveals US Suppliers Represent One-Third Global Carbon Reduction Opportunities

Back in January, CDP released its annual Global Supply Chain Report 2017, highlighting the work of businesses around the world in helping reduce global greenhouse gas (GHG) emissions. In 2016 alone, the world’s largest purchasing organizations used their buying clout to drive down emissions by 434 million tons of CO2 — more than France’s total GHG emissions in 2014. During SB’17 Detroit, the organization shared new stats on how US businesses factor into the equation. The main takeaway: There is still considerable work to be done. According to CDP, more than a million suppliers around the world are being targeted by their US corporate customers, who

CDP, Bank of America, Barclays Introduce World’s First Investment-Grade Carbon Pricing Scheme

While the adoption of carbon pricing is on the rise, members of the We Mean Business Coalition, including Barclays, Bank of America and Hermes Investment Management have introduced the world’s first investment-grade carbon pricing system for the power sector — which accounts for one-quarter of global emissions — in an effort to accelerate the transformation needed to limit global warming to a 2°C scenario. The announcement coincides with a Carbon Pricing Corridors report released by CDP on behalf of the coalition, stating that utility companies will need to adopt a carbon price between $30 – $100/ton by 2030 to achieve keep global warming below 2

Three Ways to Leverage the Many Benefits of Virtual Collaboration

Since the introduction of Cisco Telepresence in October 2006, Cisco has studied how the use of our technology impacts corporate travel. The early days were exciting; Cisco set our first travel reduction goal in 2006! Reducing travel via collaboration technologies had benefits for our business (cost reduction, productivity improvement), employees (work-life balance) and the planet (greenhouse gas (GHG) emission reductions). Execution, however, invariably focused on travel reduction. The recurring savings from less travel recouped the upfront investment for telepresence systems, so less travel was the metric that mattered. However, harnessing the full benefits of this technology is complicated and

14 Major European Utilities Expected to Exceed Carbon Targets by 1.3BT of CO2

A new report by climate change research provider CDP has revealed that many of Europe’s major utilities companies remain heavily dependent on fossil fuels, the reality of which is likely to lead to 14 major European utilities exceeding carbon targets by 1.3 billion tons of CO2. Charged or Static analyzed a €256 billion market

ACT Program Seeks to Steer Companies Towards Transformative Business Models

According to results from a new initiative created during COP21 in Paris by CDP and ADEME — the French Environment and Energy Management Agency — business-as-usual is no longer an option. By looking at the future implications of a company’s current business activity in order to accurately assess its readiness

What Are the Future Corporate Reporting Trends?

Climate change, and its related business risks, is a key future corporate sustainability reporting trend, according to a report from the Global Reporting Initiative and advisory firm SustainAbility. The report consolidates insights from the GRI Corporate Leadership Group on Reporting 2025, a group of 13 companies, and provides guidance to reporting organizations on four sustainability reporting trends: climate change, human rights, wealth inequality, and data and technology. It says there was clear consensus in the group that it is not a matter of if business should or can act

Investors Urge 100 Companies to Make Good on Science-Based Targets Commitments

Members of the Interfaith Center on Corporate Responsibility (ICCR) announced today that they have sent letters to over 100 publicly held companies – including Adobe, Boeing, International Flavors & Fragrances, Keurig Green Mountain, Motorola, Tiffany & Co. and VF Corporation – encouraging them to make good on statements that they would adopt science-based GHG reduction goals within the next two years. ICCR is a coalition of faith- and values-based shareholders representing over $200 billion in invested capital who advocate for greater corporate responsibility on social and environmental concerns that also pose significant threats to business – including forced labor, water management and climate change. The letters were signed by 60 institutional investor members, who argue that the setting of science-based

G20 Task Force: Companies Should Disclosure Climate-Related Financial Risks

Corporations should disclose the financial impacts of climate change on their business and how they are managing these risks, according to a task force convened by the G20’s Financial Stability Board. The Task Force on Climate-Related Financial Disclosures published a report on Wednesday that outlines a set of voluntary recommendations for companies to include in their public financial filings. “The Task Force believes climate-related risks are material risks for many organizations, and this framework should be useful to organizations in complying more effectively with existing disclosure obligations,� the report says. The report recommends companies describe the board’s oversight of and management’s role in managing climate-related risks and opportunities.

CDP: Underestimation of Deforestation Risks Could Cost Business Over $900B

In a new CDP study released last week, global companies — including Colgate Palmolive, L’Oréal, McDonald’s Corporation and Marks & Spencer — report that, on average, 24 percent of their revenues depend upon four deforestation-linked commodities: cattle products, palm oil, soy and timber products. As much as $906 billion in annual turnover could be at risk. The report reveals a unique market-wide snapshot of how vulnerable companies are to deforestation risks. CDP produced Revenue at Risk: Why addressing deforestation is critical to business success on behalf of 365 investors representing $22 trillion. The report analyzes data disclosed by 187 companies this year on their deforestation risk-management strategies. Two

Shocking News: European Energy Industry Outperforming US in Efforts to Meet Paris Targets

A new report from CDP, analyzing a US$1.2tn3 grouping of the world’s major publicly listed international oil and gas companies, reveals an unsurprising transatlantic divide as European companies outperform their U.S. peers in preparedness for a low-carbon future. The oil and gas industry, and the use of its products, accounts for approximately 50 percent of global CO2 emissions1. Climate policies and disruptive technology affecting the use of hydrocarbon products in transport and utilities sectors will require the oil and gas industry to rapidly adapt in order to future-proof its business. In

Are companies prepared for $14 billion in water risk?

Failing in water strategies leaves you vulnerable to a flood of bottom-line impacts. But Colgate Palmolive, Toyota and 21 others on this “A List” are ahead.

Setting the Bar High Enough, Part 2: What Exactly Is a Science-Based Target?

In this series of articles, the team at the Carbon Trust outlines the reasons for businesses to adopt science-based targets on climate change. Read part one. To put it simply, a carbon emissions target is defined as science-based if it is in line with the scale of reductions required to keep global temperature increase below 2°C compared to pre-industrial temperatures. The year 2050 can be a logical timeframe for setting

CDP: 7 Automakers Face Exposure to Up to $4.8B in Emissions Penalties

A new report from CDP, analyzing 15 of the world’s largest automakers with combined market capitalization of US$846 billion, has found that tightening regulations on emissions are having a significant business impact in the wake of the Volkswagen scandal last fall. According to the report, Volkswagen is not the only carmaker potentially facing significant penalties as regulations on fleet emissions tighten around the world. Seven

Indonesian Forest Fires, Amazon Tipping Points, and the Business Case for Investing in Reforestation

Businesses have a central role in addressing the forest issues that are in today’s headlines—including the Indonesian fires (which emitted more CO2 in three weeks than the entire German economy in a year), and the Amazon forests, which may be at a tipping point with serious water and climate implications both regionally and globally.This role of business, however, is more expansive than what is commonly perceived today.The focus today is on companies making zero-deforestation (or even zero net deforestation) commitments. And a growing number of well-known companies have made such commitments

Australian Companies Commit to Carbon Reduction Through We Mean Business

On November 5, 12 Australian companies committed to climate action at the Australian Climate Leadership Summit in Sydney, an official lead-up event to the COP21 UN climate conference. They join over 250 other companies from around the world who have made commitments through the We Mean Business coalition, including over 40 multinationals that are headquartered or active in Australia. “We know that there is strong community support