NEW DELHI: Carbon Disclosure Leadership Index for the Carbon Disclosure Project (CDP) in India for 2011 has been prepared by CDP along with CII-ITC Centre of Excellence for Sustainable Development, WWF India and the India report partner, Ernst & Young Pvt. Ltd.
The report was released at the Shangri-La’s – Eros Hotel in New Delhi on 15th November 2011 by Gregory Barker, Minister of State for Climate Change, UK Department of Energy & Climate Change.
Here is the link for the report: https://www.cdproject.net/CDPResults/CDP-2011-India-200-Report.pdf
The event was organised by the CII-ITC Centre of Excellence for Sustainable Development along with its partners WWF-India and the CDP. This initiative was with the support of the British High Commission.
The top 10 companies in the Carbon Disclosure Leadership Index for the Carbon Disclosure Project in India for 2011 include TCS, Wipro, Yes Bank, ACC, Tata Chemicals, Tata Global Beverages, Sesa Goa, GVK Power & Infrastructure, ABB and Tata Power.
Ahead of the upcoming COP 17 in Durban, The India 200 report, also entitled Accelerating low carbon growth, reveals this year’s leaders in carbon disclosure. It provides significant insights on how leading Indian companies are demonstrating global best practices in disclosing their carbon emissions and setting performance targets for mitigation of GHG emissions.An overwhelming 96% of the top India companies responding to CDP (Carbon Disclosure Project) see opportunities arising out corporate action to address climate change.
In addition, 87% of the respondents see avenues for growth from regulatory changes affecting companies in emerging economies. However, two-thirds are also wary of uncertainty surrounding the second commitment period of the Kyoto Protocol.”The best way to attract the attention of business leaders & investors is to give them the numbers of the greenhouse gas (GHG) emissions.
Energy efficiency and resource use efficiency are of competitive interest for all businesses, and lead to sustainability”, said Gregory Barker, UK’s minister of state for climate change, department of energy & climate change, at the inaugural session of the India report of the Carbon Disclosure Project (CDP) in 2011 in New Delhi.
Sharing the global perspective of the CDP, its executive chairman Paul Dickinson said, Indian industry is showing increasing interest in the enormous commercial opportunities presented by sustainability, which is the first predictable industrial revolution.” He added 57 out of the top 200 companies in India responded as compared to 8 companies in Russia, 67% of the top 75 companies in Brazil, 81% of the companies listed on the Johannesburg Exchange and 91% of the top 300 companies in the EU. ONGC was into working with their suppliers for their carbon disclosure.
Presenting the Indian industry perspectives, Arun Bharat Ram, former CII president and chairman SRF Ltd, said while globally businesses agreed on the relevance of green products and processes, they were faced by three challenges: stabilising the economy, revitalising the economy and reversing the environmental degradation.
The report also highlights the need for strong governance to manage the complexity of climate change issues, the increasing integration of climate strategy with business strategy and the associated financial opportunities that present to the Indian industry. Over the last five years the number of companies reporting their GHG emissions is on an upward trend. In 2011 89% of the responding companies reported their Scope 1, 2 or 3 emissions; this is more than a two-fold increase since CDP 2008.
Referring to the Global 500 report of the CDP released in September 2011, the financial performance of the climate performers under the Carbon Disclosure Leadership Index (CDLI) was twice as better than the average.
Elaborating on the role of the government for managing climate change, the minister added governments must provide clear, long-term vision to the industry. Public policy on climate change needs to have transparency, certainty and longevity. The biggest risk to business was the policy risk. In this respect he espoused the leadership of CII was visionary.
Carbon Disclosure Leadership Index (CDLI)
For the second year in India, company responses to the Investor CDP information request are scored according to CDP’s scoring methodology.
This methodology provides for the analysis of company responses in terms of both disclosure – the comprehensiveness of a response – and performance, the company’s contribution to action on climate change mitigation and adaptation. When the methodology is applied this results in companies receiving a disclosure score and, where sufficient disclosure exists, a performance band.
In 2010, responding companies received a disclosure score only. For the first time in 2011, the performance aspect of the scoring methodology has been introduced for the India 200.
