The 2011 Carbon Disclosure Leadership Index (CDLI)
The S&P 500 respondents showed a strong overall improvement in the area of carbon disclosure. In 2011, almost 23% (77) of total respondents scored 80 or greater compared to 16% (53) in 2010. This trend shows more clearly than ever before that S&P 500 companies are analyzing and understanding the impact of climate change on their businesses.
As the overall quality of emissions disclosure has improved in 2011, the leaders (CDLI) have demonstrated a much more mature understanding of the impact of climate change. This appears to be driven by taking a strategic
approach with executive governance to identify meaningful risks and opportunities related to climate change. In 2011, disclosure leaders scored an average of 82 on the opportunity section of the questionnaire and 85 on the risk section compared to 46 and 55 scored by the overall S&P 500 respondents, respectively (see Figure 13). The CDLI companies also consistently out- performed the overall S&P respondents in areas such as managing and reporting emissions data and effectively communicating this information to stakeholders.
Figure 13: Carbon disclosure average score breakdown for the S&P 500 overall versus S&P 500 CDLI
100 90
80 70 60 50 40 30 20 10 0
Overall S&P 500 S&P 500 CDLI Emissions
management
Emissions reporting
Governance & strategy
Opportunities Risks
Stakeholder engagement
“ Morgan Stanley’s initial goal was to reduce emissions from our largest office buildings by 10% between 2006 and 2012. The firm achieved this goal early and established a new goal. Our new goal is to reduce emissions by 15% in all office buildings by 2013. This is calculated on a per square foot basis.”
Morgan Stanley
24
Average disclosure score
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