Not just smoke and mirrors
Results from the 2007 Carbon Disclosure Project (CDP) have been announced, with solid response rates from large Australian companies, but less participation from their mid-cap counterparts.
As part of the global survey, many Australian and New Zealand companies provided a range of information on climate change such as their greenhouse gas emissions profile, management and reduction strategies.
A total of 76 Australian and New Zealand companies responded to the survey; however, there was a noticeable size bias, with 74 per cent (by number) of ASX50 companies responding compared to only 54 per cent of mid cap companies.
Nonetheless, a 19 per cent increase in the number of local companies responding to this year’s survey compared to 2006 showed that a greater understanding of the risks and opportunities associated with climate change had developed.
In announcing the results, the “2007 Carbon Disclosure Project Australia and New Zealand Report” stated, “Overall, Australian and New Zealand responses indicate that many companies are embracing the challenge and pursuing opportunities presented by climate change”.
It suggested that this reflected a shift in consumer demand and a growing interest from the investment community coupled with mounting regulatory response to climate change by governments.
The Investor Group for Climate Change, Goldman Sachs JBWere and The Climate Institute will officially launch the report today.
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