Four Indian companies take lead in disclosing climate change related information to investors

The Times of India , Wednesday, November 04, 2015
Correspondent : Vishwa Mohan,
NEW DELHI: Four Indian companies -- ITC Ltd, Tata Steel, Tech Mahindra and Wipro Ltd - have attained a perfect 100 Carbon Disclosure Project (CDP) score and topped the Climate Disclosure Leadership Index (CDLI) for the quality of climate change related information that they have disclosed to investors and the global marketplace through CDP India, the not-for-profit organisation that drives sustainable economies.

These disclosures from the large listed companies reveal the extent to which the corporations have shifted their strategies over the past five years to become part of the solution to the climate challenge.

The TCS and Dr. Reddy's Laboratories are among companies investing significantly in long term strategic initiatives whereas Ambuja Cement, Tata Power and Wipro are increasingly deploying renewable energy.

The findings are part of the CDP's annual Climate Change report on behalf of 822 investors representing US$95 trillion. The CDP holds the most comprehensive set of global corporate environmental data.

"Tata Power has invested US$ 37 million (Rs 240 Crore) in solar power installations while TCS spent US$ 5.47 million (Rs 35.97 Crore) in incorporating green building concepts", said the CDP India report, released on Wednesday.

The CDP, and CDP India (Carbon Disclosure Project India), provide the only global system for companies and cities to measure, disclose, manage and share vital environmental information.

The CDP works with market forces to motivate companies to disclose their impacts on the environment and natural resources and take action to reduce them.

More than 5,500 companies disclosed environmental information through CDP in 2015. It now holds the largest collection globally of primary climate change, water and forest risk commodities information and puts these insights at the heart of strategic business, investment and policy decisions.

"The constant improvement in the ranking of Indian companies in disclosing vital climate change information to the world offers good momentum, especially coming at a time when countries are gearing up for a global agreement at the upcoming Paris climate meetings. Responsible low carbon action from Indian companies will help investors and policymakers to make informed decisions," said Damandeep Singh, director, CDP India.

The new CDP publications includes the global 2015 Climate A List, which comprises those companies identified as A grade for their actions to mitigate climate change.

Nearly 2,000 companies submitted information to be independently assessed against CDP's scoring methodology; 113 have made the list, which features brands from around the world such as, Apple, Microsoft and Google.

On the other hand, the Agricultural Bank of China Ltd, Berkshire Hathaway, and Facebook did not take part in such disclosures to investors via CDP.

The CDP's executive chairman and co-founder Paul Dickinson said: "The influence of the corporation is mighty. The momentum of business action on climate change suggests we have reached a tipping point, where companies are poised to achieve their full potential. They need ambitious policy at both a national and international level that will support them in this regard and will catalyze participation from industry at scale."

The CDP charts the changed corporate landscape over five years, comparing data from 1,997 companies this year, with 1,799 in 2010.

"Companies globally are taking action and making investments to prepare for the transition to a low carbon economy. For example, at 94%, nearly all companies assign board or senior management responsibility to climate change and three quarters offer incentives for improving climate performance", said a statement, issued by the CDP India.

It said, "Nine of every ten companies now have activities in place that are lowering their carbon output, compared with less than half in 2010. The percentage of businesses with targets to reduce the intensity of their greenhouse gas emissions has also more than doubled".

 
SOURCE : http://timesofindia.indiatimes.com/business/india-business/Four-Indian-companies-take-lead-in-disclosing-climate-change-related-information-to-investors/articleshow/49656888.cms
 


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