Additional Understanding
The purpose of this section of the report is to assist readers and users to understand some of the finer details of this report and to explain certain definitions.
Process
The compilation of the Irish CDP report for 2011 followed a similar, but refined process as previous years. The top 40 ISEQ listed companies (based on market capitalisation, and referred to as ‘ISEQ 40’), together with the largest organisations in Ireland involved in the EU Emissions Trading Scheme (‘EU-ETS’) and other companies which are neither part of the ISEQ 40 nor the EU-ETS (referred to as ‘Other Respondents’) were invited to participate in responding to the CDP questionnaire.
The questionnaire has been developed by CDP a global organisation based in London and is identical for every participant. KPMG in Dublin have prepared reports on the project in Ireland since its launch in 2008, and applies a consistent methodology, provided by CDP, to review and score participant responses and collate the information for this report.
Structure of Report
This report provides information on four principal areas: 1. Risks and opportunities - Analysis to provide investors and stakeholders with information that enables them to better understand managements’ view of the risks and opportunities of climate change to business;
2. Greenhouse Gas (GHG) Emissions Data - Analysis of the accounting and disclosure levels by organisations in relation to their GHG emissions;
3. Disclosure and Performance - Analysis of the strategies management has in place to mitigate and adapt to climate change and their disclosure of such strategies. In particular with regard to emission reduction plans and actions; and
4. Governance - Analysis of the extent to which climate change has been embedded within the governance framework.
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Reporting for Emissions: GHG Accounting
The measurement of emissions is critical to allow organisations an insight into how to effectively manage their effects on climate change.
CDP advocates that companies use the GHG Protocol when accounting for and measuring GHG emissions. Use of the same methodology increases the consistency and transparency of this information, allowing comparison between companies in similar industries. Standardisation at a global scale is of key importance in relation to GHG emissions measurement, reporting and comparison.
Organisations that have a sound understanding of their emission and GHG levels and usage, throughout the value chain, are usually better placed to identify the risks and opportunities afforded by such emissions.
Respondents are asked to report on the three emissions types: Scope 1, Scope 2 and Scope 3 defined according to the United Nations Greenhouse Gas Protocol4
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