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Carbon Disclosure Project 2011 – Italy 100 Report


Figure 4: Companies that provide info on Payback Period (%)


Figure 5: Number of initatives with a payback period of: 30%


60 50 40 30 20 10 0


70% Provide Not Provide


47% (45) of emissions’ reduction activities reported by respondents have a payback period of three years or less and 53% (50) of initiatives have paybacks of over three years.


To a certain extent this evidence confirms that in many cases return on sustainability and climate change initiatives needs to be evaluated by looking at longer term planning horizons. On the other hand, companies’ willingness to invest in activities with a medium to long term payback period is evidence that they regard energy and emissions’ reduction as important strategic priorities.


Mainstreaming Climate Change Reporting


Carbon reporting is carving out its place in mainstream reporting


The publishing of information about climate change and GHG emissions performance in places other than the CDP response has seen a two percentage point decrease from 90% in 2010 to 88% in 2011. In absolute numbers 4 companies have not published any information on their carbon performance in mainstream annual filings or other voluntary


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communications. It seems that Italian companies are starting to move carbon and sustainability reporting into mainstream reporting. Many companies publish carbon-related information in more than one report. Overall, 21companies have published information about their response to climate change and GHG emissions performance in financial reports. Voluntary communication is still slightly predominant (23 companies), but it seems that companies are acknowledging the value of placing carbon reporting in annual reports as a credible, transparent and comparable way to communicate and assess business performance.


“The level of integration achie- ved by social and environmental considerations in our business has led us this year, for the first time, to insert a number of “gre- en pages” into our Consolidated Financial Statement 2010. They include not only descriptive information on our sustainability strategy and governance, but also a set of quantitative perfor- mance indicators.” Assicurazioni Generali


“Since 2009, Eni has been integrating its financial reporting with a document dedicated to the analysis and reporting of sustainability performance from the previous three years. Sustainability Performance 2010 provides an overall view of Eni’s ESG data and KPIs at group and business sector level for the years 2008-2010, according to the GRI G 3.0 guidelines, and outlines results from 2010 and objectives set for the period 2011-2014, with a special focus on climate change. The data featured refer to Eni SpA and its consolidated companies. The area of con- solidation is the same as that for financial reporting, with the exception of certain data clearly specified in the document.” Eni


“A sustainability section is em- bedded, as in previous years, in the Financial Year Report for 2010.” Telecom Italia


Initiative Number


50 25 <1 yaer 20 1-3 years more than 3 years


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