28 SB1009 CDP REPORT 18/9/09 11:30 am Page 28
CARBON REDUCTION
Report
UP IN
SMOKE
The world’s top 100 companies should be leading the fight
against climate change. But a new report warns that – so far
– they are failing to get the message. Tom Idle reports
O
n the eve of yet another consumer- motivated to cut their emissions to save
facing climate change campaign (this money and stimulate innovation.
time Franny Armstrong and the But because emissions reduction activity is
Guardian’s 10:10 project), a much more telling being driven by market forces as opposed to
document was published. The Carbon scientific recommendations, the targets set by
Disclosure Project’s latest report reveals that the top companies are not ambitious enough.
the business community needs to double its “Most large companies now measure their
pace of cutting CO
2
emissions if dangerous carbon footprint and many have set carbon
climate change is to be avoided, according to a reduction targets. But how many of those
new report. targets are actually in line with the required
Given current reduction efforts, the world’s reductions to prevent dangerous climate
largest companies are on track to reach the sci- change?” said Chris Tuppen, the chief
entifically-recommended level of greenhouse sustainability officer at BT, which supported
gas cuts by 2089 – 39 years too late. the research.
The research report, The Carbon Chasm, “The research highlights a significant gap
reveals that the top 100 firms worldwide are between what is needed from the corporate
on course to cut emissions by just 1.9% a year sector and what’s currently promised. We in
– well below the 3.9% cuts necessary to the business world need to find a way of
reduce emissions in the developed world by closing this carbon chasm.”
80% by 2050, as recommended by the Businesses cite various motivations for
Intergovernmental Panel for Climate Change. setting emission reduction targets, including
The majority of companies have only set identifying inefficiencies in corporate opera-
goals up to 2012, suggesting that businesses tions to achieve cost savings and stimulate
are waiting until the UN’s climate change innovation; minimising greenhouse gas
meeting in Copenhagen this December before emissions associated risks while preparing for
committing to longer-term reduction goals. potential future regulation; and achieving
“While 73% of Global 100 companies have set competitive advantage.
some form of reduction target, the majority The report highlights some recommenda-
need to be far more aggressive if they are to tions to close the current carbon chasm,
achieve the long-term reductions required,” including:
said Paul Dickinson, CEO of the Carbon
■
every company should set a CO
2
-e reduc-
Disclosure Project, an organisation that holds tion target
the largest database of climate change infor-
■
targets must have clear baseline and target
mation in the world. years
“This is a time of huge opportunity for
■
governments need to agree clear medium
businesses to gain competitive advantage by and long-term reduction goals in
reducing their own impact on the climate and Copenhagen to provide a framework for
Download benefit from associated cost savings, as well as business to set required targets
The Carbon
sparking major innovation around the
■
Company targets should reflect the IPCC
Chasm from
www.cdproject.
production of new, lower carbon products scientific recommendations and while
net and services.” absolute targets are preferred to clarity,
According to the research, businesses are aggressive intensity targets can also deliver
28 October 2009 ❘ Sustainable Business
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