Large companies preparing for a low carbon future

Mon 31 May 2004 View all news

Driven by the increasing cost of weather-based natural disasters – worth $70bn in 2003 – and a growing raft of legislation, the world’s largest companies, including motor manufacturers and fuel suppliers, are paying greater attention to the threat of climate change according to the second annual report of the Carbon Disclosure Project (CDP).


The report is based on a survey of responses from of the world's 500 biggest public companies of which fifty are identified as "climate leaders". Leading fuel suppliers and motor manufacturers including BP, Shell, General Motors, Ford, Honda and Toyota - amongst others - responded to the survey. The CDP report praises many of the respondents for quantifying and preparing to trade emissions and for issuing more coherent and comprehensive corporate climate strategies.  It welcomes the creation of multi-disciplinary teams to manage companies' risk profile, greater use of standardized measurement systems and more involvement in renewable energy projects.


The CDP represents 95 investment firms, two-thirds of them European, that control combined assets of US$10 trillion.  Its membership has grown from only 35 when it issued its first report last year. 


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