By Maximilian Clarke
The annual Carbon Disclosure Project report suggests that the majority of FTSE 350 companies are implementing their own climate strategies, delivering significant benefits to the company, PwC has said.
Some 96% of FTSE 350 members have climate representation on their boards or in senior management, with two thirds delivering financial incentives for better managing climate issues.
The Carbon Disclosure Project was launched as an independent organisation that gathers, on a voluntary basis, the carbon emissions and water requirements of companies around the world, helping them to better set targets for reducing their carbon footprints.
World-leading auditor and professional services firm, PwC, in conjunction with data made available by the CDP publish an annual review examining the feasibility of the Government’s carbon reduction programme. commenting on the findings of the report is Alan McGill from PwC’s sustainability and climate change department.
“The FTSE has the highest levels of board oversight and engagement on climate change strategy in all of CDP’s global business reviews, which is an important pointer to the UK market’s maturity in thinking around carbon emissions.”
“There’s a significant increase in the levels of financial incentives for staff linked to achieving climate change targets compared to the previous year. Companies are linking action on climate change to their employees’ work and wallets, from the board room to the office floor.”
“Companies’ environmental and social responsibilities are far wider than before, and the expectation of consumers and investors alike is for greater levels of transparency, and businesses need to prepare themselves for that.
“The report demonstrates investment is delivering payback. Companies that measure their emissions and target reductions, benefit from reduced energy and related costs. Many are opening up new markets for products and services that have long term potential for their business.”
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