CP recognized by Carbon Disclosure Project
Written by William C. Vantuono, Editor-in-ChiefCanadian Pacific Railway has been recognized as a leader for the depth and quality of climate change data it has disclosed to investors and the global marketplace through CDP (Carbon Disclosure Project), the international NGO (non-governmental organization) that drives sustainable economies. CP’s status is awarded with a position on the Canada Disclosure Leadership Index (CDLI) in the 2014 Canada Climate Change Report.
“CP has earned leadership status by submitting climate change information through CDP’s global environmental disclosure system for independent assessment against CDP’s widely respected scoring methodology,” the railroad said. “Company disclosures to CDP are marked out of a total of 100. Those organizations graded within the top 10% constitute the CDLI. CP has scored 95 out of 100. High scores indicate the provision of robust climate data upon which decisions that will catalyze progress towards low-carbon economies can be made. The index highlights companies providing a high level of transparency in their disclosure of climate-related information.”
Disclosure to CDP’s climate change program is at the request of 767 investors who represent more than US$92 trillion in assets, which is around one-third of the world’s invested capital. The number of investors using CDP to understand better the economic risks and opportunities that climate change presents to their portfolio companies has increased on an annual basis. “The growing consensus that accountability for contributions to climate change is a business imperative is further supported by the number of businesses using CDP to report their climate change impacts, which has also risen,” said CDP.
CDP disclosure scores are provided to investors and other decision makers through various channels, including Bloomberg terminals, to help them assess corporate preparedness for changing market demands and emissions regulation.
“It is an honor for CP to be named by the Carbon Disclosure Project as a leader on the TSX for transparency and accountability on climate issues,” said CP Vice President and Chief Risk Officer Laird Pitz. “This recognition reflects the excellent work being done on our reporting processes as we continue our drive towards more efficient, transparent and sustainable operations.”
“Global greenhouse gas emissions continue to rise, and we face steep financial risk if we do not mitigate them,” said CDP CEO Paul Simpson. “The need for data on corporate climate change impacts and strategies to reduce them has never been greater. For this reason we congratulate those businesses that have achieved a position on CDP’s Climate Disclosure Leadership Index. These companies are responding to the ever-growing demand for environmental accountability and should inspire others to follow suit.”
