The Carbon Disclosure Project (CDP) recently issued its 2008 report on the voluntary climate change disclosure of 200 of Canada’s largest companies. Representing 385 investors with assets of over $57 trillion under management, the CDP annually solicits information from the world’s largest companies on how climate change risks and opportunities are affecting their businesses. The most recent Canadian report received responses from 55% of the 200 Canadian companies surveyed, up from 45% last year. Among the report’s key findings, 54% of high-GHG-emitting companies voluntarily disclosed their fossil fuel and electricity costs, something that investors are increasingly requesting from companies whose energy costs are material to their production costs. Meanwhile, 73% of the respondents that reported their GHG emissions noted that they used internationally recognized protocols to measure these emissions. The report also indicated that respondents are increasingly establishing formal climate change management programs, not only to set internal emissions-reductions targets and to factor the future cost of carbon into their capital expenditure planning, but also to take advantage of business opportunities associated with climate change.
For further information, please see www.cdproject.net/reports.asp.