Of some 200 companies surveyed 128 returned with responses to the detailed questionnaire that dealt with corporate environmental performance and emissions of carbon dioxide. Swedish companies had the highest response rate of 85 percent, Finland and Denmark were second best at 68 percent. Norway was far behind with a response rate of 35 percent.“It must be pointed out that this study says nothing about how environmentally friendly a company is, but rather how well they provide an account of these issues. It is also important to note that it is the companies themselves that report, so there is no one to verify their responses," says Ian Hamilton at Sustainable Investments and one of the speakers during the day.
The poor response rate of Norwegian companies raises many questions, however, does not point to any clear-cut conclusions. One explanation is that Norway is independent, outside of the European Union and the EU has its own agenda. The good news is that the Norwegian companies are ahead of the curve when it comes to being the most transparent (78 percent).
The most vulnerable to criticism are companies that are the largest emitters. However, those companies are also located at the top of the transparency list. They include energy, material (raw materials such as metal companies) and industrial companies. It is moreover these companies that are the most frequently courted by politicians.
The CDP report should primarily be seen as a report for investors. There is research done by, among others, Sustainable Investments, which indicates that the non-financial information is value driven and will be given even more weight in the future. Ironically, the CDP report shows that the financial companies are themselves at the bottom of the list in terms of transparency (only 55 per cent).
The difference compared to energy, materials and industrial enterprises is explained by the fact that the most vulnerable for a long time have been forced toward transparency in order to have credibility. They have also actively worked on environmental issues for a long time and have adapted their processes. The financial companies, however, are inexperienced and have a steeper learning curve ahead of them.
Impressively, 80 percent of companies report they have reduction plans for carbon emissions.
“CDP influences others to join. They inspire businesses in their own sector to become more ambitious," says Ian Hamilton.
Other speakers during the day included Paul Simpson, CDP, who presented the results of the Global 500 and Stéphane Voisin from CA Cheuvreux who analyzed the latest responses from Europe´s largest companies (Euro 300).
CDP, Carbon Disclosure Project, holds the largest registry in the world of corporate greenhouse gas emissions. This year´s global survey, the seventh in the order, was sent to 3500 companies.
