Wednesday, October 17, 2012

BMO tops 2012 Carbon Disclosure Project rankings

Only one company scored high enough to make the 2012 Canada 200 Carbon Performance Leadership Index (CPLI) – Bank of Montreal. Performance is grouped into 6 bands A, A-, B, C, D and E. The CPLI includes only Performance band A, which this year was achieved only by Bank of Montreal.

The CDLI (Carbon Disclosure Leadership Index) is made up of the 20 companies with the highest carbon disclosure scores from the Canada 200 sample, and these are, in order:

Bank of Montreal 91

ARC Resources Ltd. 90

Stantec Inc. 89

Teck Resources Limited 88

TMX Group Inc. 84

Suncor Energy Inc. 84

Barrick Gold Corporation 84

Enbridge Inc. 84

TransCanada Corporation 83

Enerplus Corporation 83

Telus Corporation 82

Bank of Nova Scotia 82

Tim Hortons Inc. 80

Emera Inc. 79

Cenovus Energy Inc. 79

Toronto-Dominion Bank 78

Inmet Mining Corporation 78

Nexen Inc. 78

SNC-Lavalin Group Inc. 77

Canadian National Railway Company 77

The 2012 Investor CDP Information Request was sent to the Canada 200 companies on behalf of 655 institutional investors (CDP signatories) representing $78 trillion in assets. 107 of the Canada 200 companies responded, a meagre 54%; however, they represent 79% of the Canada 200 by market capitalization.

Apart from the scoring, 3 key findings of the report, ‘Improving transparency as the foundation for carbon performance’ were:

• Companies are identifying more climate change risks with a direct short-term impact on their business

• Companies prioritize climate change on the corporate agenda, finding more value in emissions reduction initiatives and more opportunity to improve profitability

• Companies improve transparency on climate change issues, but lag on performance criteria

There is plenty of detail in the report, as well as graphics which clearly illustrate the range of responses. Accenture, the official writer of the report and CDP’s global implementation partner, has done an excellent job assembling the results and making the information accessible.

There remains a significant gap between the CDLI average and the Canada 200 average. So, while the leaders are improving, it’s not clear that the laggards are catching up. Furthermore, the range of scores for the 2012 CDLI is 77 - 91, while the range of scores for the Global 500 CDLI companies is 94 -100. Canada has a lot of catching up to do!

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