CDP has today released a report examining the findings of company disclosures to its Climate Change Questionnaire.
The Global Reporting Initiative (GRI) has released an update to its reporting standards, replacing the previous reporting structure, G4.
In 2008, the UK government passed the Climate Change Act which established a legally binding target to reduce the UK’s greenhouse gas (GHG) emissions by at least 80% below 1990 levels by 2050.
Congratulations to BT Group for ranking first in this year's Sustainability Reporting Performance of the FTSE 100 research. Marks and Spencer Group (M&S) scored a very close second, missing the top spot by one percentage point. Both of these companies really pave the way in terms of climate change best practice with holistic and extensive approaches to their sustainability strategies. Unilever ranked third thanks to its innovative approach to managing sustainability performance and engagement.
The Sustainability Reporting Performance of the FTSE 100 is an annual research report that has been published for the past six years.
Companies use it, alongside CDP and Dow Jones Sustainability Index, as a benchmark for how well they are publicly reporting.
The announcement today that the UK is likely to ratify the Paris climate deal this year means that we need to think about how those targets become national policies, and the role that businesses must take in reducing carbon emissions and managing their environmental impacts.
With that in mind, we are excited to be launching our 2016 Sustainability Reporting Performance of the FTSE 100 research on 29th September.
The earth’s fossil fuel reserves are not going to run out any time soon. As technology develops, our capacity to discover and extract such reserves are only going to increase. Humanity will not stop burning fossil fuels because they have run out, as hypothesised in theories such as “peak oil”. To quote Dieter Helm “there is enough oil, coal and gas to fry the planet many times over...there is no imminent resource crunch around the corner”. Fossil fuel reserves must, therefore, be left unused by choice. This is a decision that must be made and implemented at all levels – by governments, by organisations and by individuals.
The climate is changing, and will continue to change, as a result of increasing greenhouse gases in the atmosphere. Regardless of how quickly we reduce our emissions, a certain amount of change is now inevitable, and there will be implications for society and the businesses that serve it. Clearly, the faster we can cut emissions the lower the impact will be, but we’re now in an era of balancing action to mitigate our emissions with our plans to adapt to changes that are around the corner.
My children are wonderfully obsessed by Albert Einstein and, in particular, his amazing array of inventions. “How could he have known about helicopters?” they squeak in delight to which I answer “Because he was happy to be different”. Of course this suits me as I encourage them, at an age when there is huge peer pressure to conform, not to follow the crowd and to feel comfortable in being themselves. However, it also has resonance in how organisations address their sustainability issues.
Regardless of the recent changes in government and cabinet positions, the UK government has recently put into force binding legislation that pledges to reduce its carbon emissions by 57% from 1990 levels by 2030. These are bold and important targets if we are to meet our Paris COP 21 commitments and keep warming below 2 degrees.