LRQA delighted as CDP Global 500 Report shows 29% rise in verified emissions to drive data quality

The CDP Global 500 Climate Change Report 2013 has just been released.  This report provides the most authoritative evaluation of corporate progress on climate change in 2013 from data collected by CDP. 

As a  verification partner of CDP (formerly the Carbon Disclosure Project), LRQA is delighted at the rise in independently verified emissions – almost double the percentage from 2011.  Commenting on the report findings, Madlen King, Global Head of Climate Change and Sustainability said; “We are pleased with these results which give a clear indication on the value of independent third party verification.  Not only does verification deliver additional points on their CDP score to reporting companies that choose to have their data independently verified, but it also gives a clear signal of organisational commitment to climate change mitigation strategies to internal and external stakeholders alike.” 

Report Highlights:

1. Independently verified emissions ensures data quality 71% of responding companies verified their emissions in 2013: a 29% increase from 2012 and almost double the percentage in 2011.

2. Big emitters are not doing enough to reduce emissions Total scope 1 and 2 emissions have not changed significantly in the past five years. The 50 largest emitters have increased their emissions since 2009.

3. Companies are yet to report emissions from the most relevant parts of their value chains Current reporting of indirect scope 3 emissions does not reveal the full impact of companies’ value chains.

4. Money talks: financial incentives are driving emissions reductions Monetary rewards for employees, particularly at board-level, are powerful catalysts of climate action.

5. Companies find it easier to quantify risks rather than opportunities Global 500 companies identify a range of risks and opportunities. However, they are more likely to quantify and monetise the impact of risks than opportunities.

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The full CDP Global 500 Climate Change Report can be downloaded here.