Highlights in 2011
drive, CDP rewards verification highly in both disclosure and performance scoring in 2011 and it is one of the criteria for entry into the CPLI.
Verification levels in 2011: In 2011, a number of criteria were introduced to determine what is accepted as verification within CDP’s scoring methodology. It requires that a verification statement:
1. Is related to the relevant emission scope
2. Clearly states the type of verification that has been given and the standard used
3. Covers the current reporting year 4. Is undertaken by an independent third party.
Verification of emissions has decreased in the year on year analysis in this report because CDP has strengthened its criteria to reflect the importance of verification. Whilst 71% (34) of responding companies stated that they had gained or were in the process of gaining verification of Scope 1 or 2 emissions (an apparent increase of 2% compared with 2010), only 40% (19) met all criteria noted above for Scope 1 or 2 emissions, resulting in an overall decrease of 29%. CDP sees this higher standard as a key strategic priority to enhance the quality and reliability of the data reported by companies for the use of investors and consumers, both now and in the future. The sector breakdown of companies verifying their Scope 1 and 2 emissions is shown in Figure 13.
The number of companies obtaining verification is similar for both Scope 1 and Scope 2 emissions for the majority of sectors. Only in sectors with very low number of companies differences in percentage are noticeable.
What is CDP doing to support reporting companies? For 2012, CDP is providing further clarity on what constitutes an
Figure 13: Percentage of companies in each sector with complete verification for at least a proportion of their emissions
Financials 54% 62% Industrials
100% 100%
Consumer Staples
0% 0%
Energy
100% 100%
Consumer Discretionary
60% 60%
Healthcare 100% 0% Materials 50% 0% Information Tecnology
50% 50%
Telecommunications
50% 50%
Utilities 83% 67% 0% 10%
Scope 1 Scope 2
acceptable verification process, which will be communicated as part of the questionnaire consultation process in September 2011. Looking further ahead, CDP has launched a verification white paper and consultation on a verification roadmap (2013-2018) aiming to encourage more companies to verify their climate data. Visit
https://www.cdproject.net/verification to find out more.
27 20% 30% 40% 50% 60% 70% 80% 90% 100%
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