A group of over 100 global investors holding over $10tr in assets have today publicly backed CDP flagship campaign to put pressure on some of the globe’s highest impact corporations. The investor backed CDP issues information requests to listed companies on behalf of investors, asking for them to publicly disclose information on their greenhouse gas emissions, climate strategies, and policies relating to water use and deforestation.
Thousands of companies provide comprehensive updates to investors, helping them to make informed decisions that account for environmental risks and enabling a dialogue that encourages companies to enhance their climate performance. However, a significant number of companies fail to respond to some or all of CDPs information requests, despite its approach being backed by some of the world’s largest institutional investors and its information requests being in line with international standards.
As such, the Non Disclosure Campaign publicly lists 1,051 companies from 49 countries that have failed to respond to some or all of CDP’s information requests, including some household names such as Exxon Mobil, Facebook, Berkshire Hathaway, Nintendo, and Domino’s Pizza.
CDP said the list has grown by nearly 20 per cent since last year alone, with this year’s campaign reaching out to close to a third of all non-disclosers worldwide. The companies being engaged cover over $8tr in global market capitalisation, and are estimated to emit more than 4,800 megatonnes of carbon dioxide equivalent (CO2e) annually – equivalent to the 2017 greenhouse gas emissions from the whole of the US.
CDP said publicly naming companies helped to improve engagement with investors. Last year 88 investors targeted 707 companies through the campaign and companies that were named by their investors as part of the 2019 campaign were more than twice as likely to provide new disclosure information than those who were not.
Source: Business Green
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