Climate change leader not who you thought it would be
When you think about all the companies tackling climate change, the last one that springs to mind is Phillip Morris International (PMI).
Most associate PMI with the very climate unfriendly products: cigarettes.
However it seems that to counter the negative press that today surrounds smoking, PMI (NYSE / Euronext Paris: PM) is working diligently behind the scenes to recognized as a leading global business taking proactive steps to address climate change and reduce its carbon footprint.
The company was recently named as the only consumer staples company in the S&P 500 on both the CDP Climate ‘A’ List for top performers and the Climate Disclosure Leadership Index (CDLI) for quality and transparency of reporting.
That result is somewhat surprising and perhaps a wake-up call to other consumer staples companies.
With so much good work going on in the field of energy management and sustainability particularly in Australia to reduce the carbon footprint by fast movers such as Dyesol, it seems only right that major conglomerates do all they can.
CDP is the leading international not-for-profit organisation assessing the work of thousands of companies worldwide in the area of climate change.
PMI also earned its leading place on the CDLI by disclosing high quality carbon emissions and energy data for 2014 through CDP’s climate change program. The CDP assessment is compiled at the request of 822 investors who represent US$95 trillion in assets – more than a third of the world’s invested capital.
Speaking following the announcement of the CDP S&P Leadership Index results, Paul Dickinson, executive chairman and co-founder of CDP said: “As the world prepares for a low carbon future, reliable information about how companies are responding to the transition will be ever more valuable. For this reason we congratulate those businesses that have achieved a position on CDP’s Climate Disclosure Leadership Index.”
The CDP Climate “A” Listers include 113 companies, which represent the top 5% of those who participated in this year’s survey.
CDP performance scores provide a tool for institutional investors and stakeholder to assess corporate efforts to mitigate climate change as well as corporate preparedness for changing market demands and emissions regulations. Scores are communicated to investors and decision-makers via various channels, including Bloomberg terminals.
CDP’s annual global climate change report, and the scores of all companies taking part in climate change program this year, is available on CDP’s website.
PMI’s commitment to science-based targets to limit climate change as part of the ‘We Mean Business Coalition’:http://www.wemeanbusinesscoalition.org/