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Carbon Trust launches footprint verification service

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The Carbon Trust has launched a new service to provide companies and organisations with independent verification of their corporate carbon footprints.

The Footprint Verification service is intended to help companies and organisations manage the increasing demand for carbon emissions data in CSR & annual reports and websites, as well as to support the disclosure of emissions to third party stakeholders, including shareholders and investors. 

Organisations that use the service will be able to display a Footprint Verification logo in conjunction with the carbon footprint data, showing that their emissions have been independently verified. The Trust says that the verified carbon footprint provided is compliant with both the internationally recognised GHG Protocol, as well as the Carbon Disclosure Project (CDP).

The new service follows new findings from the Carbon Trust that 50% of multinationals will look set to select their suppliers based upon carbon performance in the future.

Carbon Disclosure Report says carbon reduction plans deliver better stock market performance

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A report by the Carbon Disclosure Project has suggested that companies that implement policies to reduce carbon emissions perform better on the stock market compared with those that do not.

The 2011 edition of the annual Carbon Disclosure Project (CDP) Global 500 report, which examines carbon reduction activities at the world's largest public corporations, has found for the first time in the ten year history of the survey, that the majority have climate change actions embedded as part of their business strategy. The report, written by professional services firm PwC, attributes this to growing board-level awareness of the link between energy efficiency and increased profitability.

The report, entitled Accelerating low carbon growth, analysed disclosures from 396 of the world's largest companies, which revealed 68% have climate change at the heart of business strategies, compared with 48% in 2010. There was also a marked rise in the number of companies reporting reduced greenhouse gas emissions as a result of emissions reduction activities (45%, up from 19% in 2010).

A correlation was also established between higher stock market performance over time, and representation on CDP's Carbon Performance Leadership Index (CPLI) and the Carbon Disclosure Leadership Index (CDLI). Companies with a strategic focus on climate change provided investors with approximately double the average total return of the Global 500 from January 2005 to May 2011.

Paul Simpson, CEO of the Carbon Disclosure Project, said: "The improved financial performance of companies with high carbon performance is a clear indicator that it makes good business sense to manage and reduce carbon emissions. This is a win win for business - the short ROIs many emissions reducing activities have, can help increase profitability. Companies yet to take action on climate change will have to work hard to remain competitive as we head towards an increasingly resourced constrained, low carbon economy."

Alan McGill, partner, sustainability and climate change, PwC said: "Historical financial performance is being exposed by climate change as an outdated model to assess long term business profitability and growth, when you consider the much wider range of financial and non - financial risks associated with business today. Today's investors have different information needs, which are leading to tougher verification regimes, more emphasis on executive and staffing responsibilities and incentives, and much more unforgiving examinations of the contribution of business to society. We are accelerating towards newer reporting models that better balance financial and non - financial performance."

Rising oil prices, energy supply risks and growing recognition of the commercial returns on investments in emissions reduction activities contributed to the growth in importance of climate change as a boardroom issue. Over half (59%) of reported emissions reduction activities delivered payback in three years or less according to company submissions. These include energy efficiency projects (building fabric, building services and processes), low carbon energy installations and staff behavioural change. Employee incentives to reduce emissions are now offered by 65% of companies, compared with 49% in 2010.

 The top 10 best performing companies this year are:

USA: Bank of America, Cisco Systems
Japan: Honda Motor Company, Sony Corporation
Germany: Bayer, BMW, SAP
United Kingdom: Tesco
Netherlands: Philips Electronics
Australia: Westpac Banking Corporation

CDP says there are 14 new entrants to the 2011 Carbon Performance Leadership Index, which counts only 29 companies due to more demanding criteria applied by CDP. These are:

USA: Air Products & Chemicals, Lockheed Martin, Morgan Stanley
Japan: Honda Motor Company, Sony Corporation
Germany: SAP
France: AXA Group, Schneider Electric
Italy: ENEL, FIAT
United Kingdom: British American Tobacco, BG Group, Glaxo SmithKline
Switzerland: Novartis

http://www.bbc.co.uk/news/business-14921740  

Is mandatory reporting of greenhouse gas emissions by business getting closer?

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Interesting post on the Guardian's Sustainable Business blog yesterday which discusses the need for mandatory greenhouse gas emissions reporting.

The piece suggests that over 80% of business professionals surveyed by the Insitute of Environmental Management and Assessment believe that mandatory reporting of  emissions should be introduced for companies as it can deliver significant benefits, with those reporting emission reductions achieving an average of 9% CO2 savings over the last two years.

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