Apple, Microsoft and Google’s parent Alphabet are among the companies doing the most to fight climate change, according to a global ranking that grades corporations according to their environmental credentials.
The three US tech giants, worth a combined $US1.6 trillion ($2.2 trillion), are among the 113 corporations awarded an ‘A’ grade for their efforts to reduce heat-trapping emissions, according to the report Wednesday from the UK nonprofit CDP. That list was whittled down from a larger pool of 1997 companies around the world that submitted data to the group formerly known as the Carbon Disclosure Project.
In Australia, real estate investment trusts Dexus Property Group and Investa Office Fund made the list. Companies in Australia and New Zealand were “demonstrating an increasing appetite to act on climate change, and have been steadily developing their approach to climate change management.” After the government ditched carbon-pricing, the result was “perhaps indicative of a corporate understanding of the issues that is greater than the political will to act,” CDP said.
The efforts by global companies from Japanese brewer Asahi to French cosmetics maker L’Oréal illustrate a growing trend by corporations around the world to step up efforts to protect the environment. Nine in 10 companies now have actions in place to reduce greenhouse gases, up from less than half in 2010, CDP said. The move comes as investors are demanding more disclosure on companies’ climate change data and sustainability efforts, according to the report.
“Those investors who understand the need to decarbonise the global economy are watching particularly closely for evidence that the companies in which they invest are positioned to transition away from fossil fuel dependency,” it found.
“We must take swift and bold action to address the root causes of climate change,” Hewlett Packard chief Meg Whitman said in a statement leading the report. “This means disrupting the status quo: changing the way we do business, holding ourselves and others accountable, and creating innovative solutions that drive a low-carbon economy.”
The United Nations has sought to engage companies as 195 nations work to seal a global deal to fight climate change at a meeting in Paris in December. The UN has set up a separate online portal to collect emissions-reduction pledges from companies, complementing those of countries.
Hewlett Packard was also given an ‘A’ grade in the CDP report. Other companies on the list include German manufacturer Siemens, Swiss foodmaker Nestle and Spanish telecoms company Telefonica. CDP rates companies according to the level of their efforts to curb emissions and adapt to the effects of climate change, as well as the transparency of their actions.
The biggest corporations not to disclose information for the report were Agricultural Bank of China, Warren Buffett’s Berkshire Hathaway, and Facebook, according to CDP, which produces the annual disclosure report on behalf of 822 institutional investors with more than $US95 trillion of assets.
Source: Sydney Morning Herald