Carbon Disclosure Project 2011
“ We have evaluated all of our production locations against current and future water-stress and have identified ten that are water-stressed. Each of these locations has a target to reduce the amount of process wastewater by 50% by 2015 through aggressive wastewater treatment and reuse. By ensuring that these locations use the water that is available in the most efficient manner possible, we are mitigating the risk of business disruption due to water scarcity and preparing ourselves to exercise competitive advantage over those who do not.” Diageo plc
“ Increases in extreme cold weather giving rise to significant snowfall and icy road conditions impacts the ability of subsidiaries to deliver products or collect waste from customers.” DCC plc
Physical Risks and Opportunities 63% of respondents (12 out of 19) think that their business is exposed to physical risks. It is interesting to note that this statistic is a return to the 2009 levels, while 2010 levels were reduced to 45%. The recent harsh Irish winters may now be a topical focal point for businesses assessing their performance.
The analysis of the responses from participants shows that the most frequently cited risks driven by changes in physical climate parameters are change in temperature extremes, change in precipitation extremes and droughts.
A variety of other physical risks were cited depending on the nature of the industry that the responding companies are involved in.
These include: • Induced changes in natural resources (3 respondents);
• Change in mean (average) temperature (3 respondents);
• Change in mean (average) precipitation (2 respondents); and
• Sea level rise (2 respondents).
Similar to regulatory risks and opportunities, respondents generally see their business being exposed to more physical risks than opportunities, with the main opportunities arising from changes in mean (average) temperatures.
Other Risks and Opportunities Other climate change related risks and opportunities were identified by 37% of respondents (7 out of 19), with the main focus being on changing consumer behaviour (reported by 5 respondents), and reputation (reported by 4 respondents).
GHG Emissions Accounting
Figure 7 illustrates the ISEQ 40 respondents with GHG emissions accounting in place.
Varying methods of measuring GHG emissions were applied by respondents of the 2011 survey. These include the United Nations GHG Protocol (the most popular), the Defra Voluntary Reporting Guidelines and other “in house” methods. This is a similar pattern to 2010.
The number of ISEQ 40 companies reporting Scope 1 emissions remains constant year on year at 17, although this amounts to a slight percentage increase based on the number of respondents (19 in 2011 compared to 20 in 2010).
20
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