The Carbon Disclosure Project (CDP), the not-for-profit organisation that gathers data on how companies act to prevent dangerous climate change, has launched its 2011 Questionnaire in Ireland. The Project, principally sponsored in Ireland by the NTR Foundation and supported by KPMG, acts on behalf of large investors and invites Irish companies to measure and disclose their greenhouse gas emissions and climate change strategies, encouraging them to set reduction targets and make performance improvements.
“CDP has become the established and accepted global standard for examining the possible impacts on business of the many factors connected with climate change. Last year more than 3,000 companies around the world responded to the CDP request, recognising that carbon management has a strategic role to play in reducing energy costs, generating revenue and remaining competitive,” says Dick Budden, Ireland director of CDP.
The CDP Questionnaire examines climate change practices; emissions reduction targets; climate change risks and opportunities; emissions data; zero or low carbon strategies.
The Questionnaire is circulated to 40 of the largest companies in Ireland listed on the Irish Stock Exchange, large organisations involved in the EU Emissions Trading Scheme including the major utility companies such as Bord Gais and ESB, and other companies that volunteer to take part.
In Ireland 33 Irish companies participated in 2010 and it is anticipated that this number will increase in 2011. Questionnaires must be completed by the end of May 2011 and the Carbon Disclosure Project Ireland 2011 Report will be published later in the year.
“It is becoming increasingly evident that ‘green’ practices actually contribute to the bottom line and companies are taking this on board. Last year’s CDP found that 79% of respondents had a board committee or executive body responsible for climate change strategy. It therefore makes sound business sense to participate in CDP and demonstrate you also are assessing the challenges and opportunities of sustainable practices,” comments Jim Barry, chairman of the NTR Foundation and chief executive of NTR.