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- US$22 trillion investor group engaging with over 1,300 companies led by CDP;
- Total reduction of 641 million tonnes of CO2e – equivalent to closing down over 168 coal-fired power plants;
- New open-source methodology aims to establish ‘common language’ for greenhouse gas (GHG) emissions estimates.
A new infographic released at the COP21 summit in Paris today, shows the impressive results that can be achieved when investors incentivize corporate action on carbon reductions. CDP’s Carbon Action initiative has this year helped reduce global corporate greenhouse gas (GHG) emissions by 641 million tonnes of CO2e and led to a 130% increase in the number of emissions reduction projects such as improvements in energy efficiency, low-carbon energy purchase and installation, process emissions reductions and improved transportation use.
Carbon Action brings together an influential group of 304 investors now with US$22 trillion in assets - up from US$6.7 trillion and 35 investors at launch in 2011. The group asks companies to help tackle climate change in three ways: i) make emissions reductions; ii) publicly disclose emissions reduction targets; and iii) invest in emissions reduction projects with a positive return.
Carbon Action assesses companies in energy-intensive sectors including oil & gas, electric utilities, materials, mining & metals, transportation and consumer staples.
Results include:
- A 77% increase in emissions reductions, amounting to 641 million fewer tonnes of CO2e in the atmosphere. This is equivalent to closing down over 168 coal-fired power plants. Responding companies up by 145% to 552, a sixfold increase since 2011 launch.
- 130% increase in the number of emissions reduction projects, with a 121% increase in investments in these, now US$86 billion.
- 23% of companies in CDP’s Carbon Action sample had no emissions-reduction targets in 2015, which continues to be cause for concern.