The Paris Agreement on climate change was a clear signal from governments to global markets that the transition to a low-carbon economy is inevitable, irreversible and irresistible. But is the private sector acting on this signal?

The evidence is starting to come in – and the signs are positive. In 2016 over 600 of the world’s largest listed companies disclosed to CDP that they are now factoring the Paris Agreement as a risk or opportunity that could generate substantive changes to how they do business. These disclosures were made only a few months after Paris and are a promising sign for the future.

Companies operating in the high-emitting utilities sector were the most likely to say that the Paris deal is impacting their business, with 47% highlighting this in their CDP disclosure. Businesses in other high-emitting sectors, such as energy and materials, were also among the most likely to identify changes as a consequence of the global climate change agreement.

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