Warren Buffett Berkshire Hathaway After not providing environmental data to CDP, a non-profit organization that operates a global disclosure system, it ranks among the approximately 17,000 companies alongside oil and mining groups Chevron, ExxonMobil and Glencore.
The slow response by the majority of companies that provide full disclosure of climate change exposure precedes the COP26 UN Climate Summit to reach zero net greenhouse gas emissions to limit global warming. It goes against the increase in corporate pledges made.
More than 13,000 companies worldwide report on the environment Data to CDP In 2021, those disclosure standards were very different. CDP was founded in 2020 as a Carbon Disclosure Project whose mission is to provide investors, businesses and governments with information on climate impacts.
Dexter Galvin, Global Director of Corporate and Supply Chain at CDP, said: “If they continue to do business as usual, they will end up on the wrong side of public opinion, regulation and investor sentiment.”
With investors Regulatory authority Around the world, companies are calling for urgent improvements in reporting and disclosure standards in response to the growing problem of “greenwashing”, which makes misleading claims about trust in the environment.
Only 272 companies received an A score from the CDP in their sixth annual assessment of environmental and reporting standards based on transparency and performance regarding climate change or water safety or deforestation.
In 2021, only 14 companies achieved triple A performance scores on all three environmental themes. These companies included less prominent candidates such as food groups Danone and Unilever, as well as tobacco group Philip Morris, which seeks to diversify into alternative products.
Galvin said there were signs of improvement in the quality of disclosures, with 509 companies moving up from a score below “C” in the previous year to “B” in 2021. The CDP has determined that these companies are currently taking action. To manage their impact, not just to disclose it.
However, more than half of the 13,000 companies reported to the CDP were rated “C” or “D”. This means that we are just beginning to recognize the impact on the environment.
Carolavan Lamoen, Head of Sustainable Investment at Robeco, a Dutch asset management company, said the need to increase the transparency and comparability of environmental disclosures across the world. “Investor expectations for climate, water, biodiversity and deforestation data have risen dramatically in recent years, and there is no doubt that this will continue,” she said.
NS Creating a new body At the COP26 Climate Change Conference in Glasgow last month, it is known as the International Sustainability Standards Committee for developing a globally consistent set of environmental reporting standards for businesses.
“COP26 highlighted the role companies need to play in driving the changes in the real economy needed to tackle climate change emergencies,” said Galvin.
The CDP also said it plans to develop scoring methods to focus on how companies are performing well against scientific benchmarks. It also aims to expand its reach over the next five years to include biodiversity, marine, waste and food so that investors can more comprehensively assess the impact of a company on nature.
Warren Buffett’s Berkshire among CDP’s climate impact disclosure laggards Source link Warren Buffett’s Berkshire among CDP’s climate impact disclosure laggards