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Key Themes


Absolute targets are marginally more common than intensity targets.


100% (22) of companies reporting reduction targets for the current fiscal year have defined more than one numeric emission reduction target. All companies, in fact, have several targets applying to different business units or with different time horizons.


When considering the underlying data, absolute targets are marginally more common than intensity targets. 45% of targets (set by 10 companies) include absolute emissions’ reductions, while 32% (set by 7 companies) are intensity targets (e.g. relating to production volumes, employees or square metres). The remaining 23% relate to 5 companies that set both absolute and intensity targets.


A total of 186 emissions’ reduction initiatives are reported by 91% (30) of companies responding in 2011.


The number of companies reporting emission reduction initiatives and plans this year rose by 5% to 91%, up from 86% in 2010 and from 50% in 2009. Only two companies did not provide any information on their emissions’ reduction initiatives. Energy efficiency (26%), low carbon energy (16%)


and transport (12%) are the most commonly identified activity types. A total of 186 emissions’ reduction activities were reported in the CDP 2011 information request. This is an average of six (one more compared with results from the Global 500) emissions’ reduction activities per company. Finmeccanica reported the largest number of activities with 46, while A2A and Assicurazioni Generali each reported 17 and Italcementi 14.


It is worth noting that behavioral change, which is the third most popular type of activity being carried out by the Global 500, currently accounts for only 5% of the initiatives in place among Italian respondents. It will be interesting to observe how this figure changes over the coming years, since this is an area that is generally regarded as one with significant potential for reduction and short payback periods.


Emission reduction plans only partially backed by financial information.


70% (23) of companies have disclosed information regarding the estimated payback period which means that 51% (95) of reported reduction initiatives are backed by some form of financial considerations. When looking at


Figure 3: % of respondents who have emission reduction initiatives


100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0%


No Yes


14% 9%


information on monetary savings from emissions’ reduction initiatives and on investments required to reach the initiatives’ targets, this figure on financial back-up goes down further to 36% and 42% respectively. This is likely to be due to some degree of difficulty for companies in estimating benefits (i.e. monetary savings) related to some types of actions. This in turn might reflect the lack of a structured framework for evaluating financial impacts of emissions’ reduction initiatives.


“In Germany the Energy Ma- nagement project was imple- mented from 2008 to 2010. All major properties of the Group were assessed to determine their energy efficiency and energy savings potential. Several measures are being implemented at the sites of individual Group companies, after a selection process based on ROI criteria”.


Assicurazioni Generali 50% 86% 50% 91% 2009 2010 2011


“Following the positive out- come of the study carried out on the heat cycle of the Silla 2 Waste to Energy plant, which identified the possibility of increasing the maximum global cogeneration efficiency of the plant to 87% from 58% currently, the executive plan- ning and realization of the work to be performed on the plant were begun. The first stage - planned in August-September 2011 - will enable maximum thermal power of 120 MW to be sent to A2A’s district hea- ting network, with unchanged incoming waste, compared to the current 68 MW.” A2A


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