Exxon Mobil adds a comment
LONDON, May 31 (Reuters) – Not-for-profit forum CDP says more than 1,600 companies identified as having a significant impact on the environment are not disclosing environmental data, launching its latest campaign to get companies to provide the data.
288 financial institutions with nearly $29 trillion in assets, CDP provides standardized data that allows investors and others to compare corporate performance on issues such as climate change, water and deforestation. Write To remind the companies to disclose the information.
The companies targeted in the 2023 campaign include frequent non-declarants such as ExxonMobil XOM.NGlencore Glenn.L And the caterpillar CAT.NCDP said in a statement.
E“Xon has plans to reduce emissions to support net zero in the future while increasing value for our shareholders and stakeholders,” xxon said.
The oil giant said in an emailed statement that it has reduced emissions from its own operations over the period 2016 to 2021, reducing methane emissions from assets and increasing its plans to invest in low emissions.
Glencore declined to comment.
Caterpillar did I do not respond to requests for comment.
In total, non-extractors emit an estimated +4,200 megatonnes of carbon dioxide per year – equivalent to the greenhouse gas emissions of the UK, EU and Canada combined, according to the CDP.
CDP works to help Small groups of shareholders target companies and put pressure on boards to listen, said Claire Elsdon, CDP’s joint director of capital markets.
Financial institutions need the data to “support risk management practices, monitor portfolio alignment with net zero goals and unlock sustainability-related opportunities,” she said. “These uses can be used not only to protect, but also to increase long-term profitability,” Elsdon said.
In the year Since its launch in 2017, the CDP has expanded the universe of companies it targets for disclosure. This means that the number of non-public companies targeted this year is higher than in the 2022 campaign.
Despite the progress, she said, disclosure remains a problem in high-growth sectors and delays in providing information can be difficult.
In total, 50% of companies disclose environmental information in each sector, Elsdon told Reuters.
of 2022 campaign Of the nearly 1,500 targeted, 388 high-impact companies responded, and CDP says companies are 2.3 times more likely to disclose if they engage directly with financial institutions.
Investors who have targeted non-performing companies this year include Sumitomo Life Insurance, AQR and Legal & General Investment Management.
(Reporting by Tommy Reggio Wilkes; Editing by Sharon Singleton and David Gregorio)
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