The Carbon Disclosure Project (CDP) is a global initiative to gather information on the greenhouse gas emissions of the world's largest companies. It is conducted annually on behalf of 475 investors with assets of $55 trillion.
The standard of disclosure from FTSE 350 companies has increased dramatically over the past four years since this group of companies was first included as a CDP sample in 2005. 236 companies responded to CDP 2009, two more than CDP 2008, maintaining an overall response rate of 67%. The increase in response rate for the FTSE 100 was more marked, up by 4% to 95. These results suggest that, notwithstanding short term concerns and pressure on senior management time, climate change remains high on the agenda and the value of the CDP exercise endures.
Companies across all sectors identify sector-specific risks and opportunities in relation to climate change. Of responding companies in CDP 2009, 91% cite at least one opportunity arising from climate change, although these vary widely in terms of the size and timing of perceived benefits.
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