Top companies need to cut emissions more agressively
Plenty of opportunities exist for businesses to mitigate climate change
Twelve of the top 20 emitters of CO2 / greenhouse gases in Asia (ex Japan) have taken steps to reduce their absolute level of emissions. However reductions are too small and too slow to mitigate the impact on climate change, a report shows.
The 2013 Climate Change Report by CDP (formerly the Carbon Disclosure Project) and professional services firm PwC surveyed nearly 150 companies across the region. The top 20 emitters are responsible for 87% of the emissions reported in the survey.
”Companies are still focusing on quick solutions with a fast payback period, rather than longer term initiatives,” added Mr Simpson. “Big emitters need to improve their performance and governments need to provide the incentives to make this happen.”
A more upbeat finding in the report is that many more companies have identified climate change opportunities. Compared to 2012, 65% more companies have identified regulatory opportunities and 77% more have spotted physical climate change opportunities. From energy companies using cleaner fuel to financial companies providing new insurance policies, businesses in all sectors are seizing the opportunity to create new revenue streams while managing their reputation.
About the report
The Asia ex Japan Climate Change Report is available to download free. The public disclosures of climate change information from Asia ex-Japan companies taking part in CDP this year are also available on the CDP website. Over 4,500 businesses in markets around the world have disclosed through CDP this year. Their data will be disseminated to investors via various channels, such as Bloomberg terminals, where it is downloaded an average of 1 million times every six weeks.
During the report’s launch event in Hong Kong on 4 November 2013 we presented awards to top responding companies selected from Hong Kong and South East Asia:
- Lenovo - Best Overall Responding Company based on performance
- Noble Group - Best Overall Responding Company based on disclosure
- Power Assets - Best Overall Responding Company based on disclosure
– runner up
- Digi - Responding Company with Best year-on-year disclosure score change
- PTT Exploration & Production - Responding Company with Best year-on-year disclosure score change - runner up
- Shangri-La - Responding Company with Best year-on-year disclosure score change in Hong Kong
- PTT Global Chemical - Best new responding company
- SingTel - Best new returning company