<\/p>\n
It’s fair to say that the mood around climate action and nature loss is currently feeling a bit mixed, especially given the turbulent geopolitical and economic backdrop.<\/p>\n
But at a recent gathering in Paris to mark the 25th anniversary of CDP, the world’s largest environmental disclosure platform, some of Europe’s biggest companies presented a more positive image. It shows that European companies are choosing to take the lead in sustainability and environmental transparency, and are reaping significant economic benefits.<\/p>\n
More than 22,000 companies and 1,000 cities around the world currently report environmental impact data through CDP, an NGO founded to bridge the climate and nature data gap. The company’s latest research, published in its annual Corporate Health Check, shows that companies that take action to go green are gaining a real competitive advantage.<\/p>\n
The world’s highest-scoring nonprofit leaders reduced emissions 60% faster than their peers over the past 12 months, and this change created a \u20ac67 billion financial opportunity. <\/p>\n
Esther Finidori, Schneider Electric’s chief sustainability officer, said the company’s sustainability strategy and CDP disclosures have helped transform its business. <\/p>\n
\u201cIn fact, reporting disclosure frameworks like CDP are of great value to businesses. They help us assess where we stand. Every year, new questions help us further push, challenge and improve our ambitions.\u201d<\/p>\n
Lenzing Group’s Krishna Manda expressed a similar opinion, pointing out that better information disclosure will attract more customers and investors and help develop new markets.<\/p>\n
“Why do companies disclose?” CDP CEO Shelley Madera asked, adding, “Companies disclose data not because they want the data, but because they need to use that data to convince their customers that they are the company to work with and to keep them in the investment space. So this is not a burden. This is an advantage, and it’s absolutely core to doing business.” <\/p>\n
CDP’s latest corporate health assessment ranks Europe at the top of the world. 16% of companies have reached a leadership level in the climate change space, behind 15% of companies in Asia Pacific and well ahead of 6% and 5% in Latin America and North America, respectively. <\/p>\n
\u201cIn Europe, pension funds are becoming increasingly demanding. They are asking us to be more efficient in the way we monitor companies and hold them accountable for their climate change strategies. And that is a positive development,\u201d said St\u00e9phane Cadieux, Chairman of the Board of Ark\u00e9a Asset Management. <\/p>\n
However, CDP’s research also highlights the widening gap in environmental performance across Europe.<\/p>\n
Spain (25%) and France (24%) had the highest proportion of climate leadership companies among the countries assessed, followed by Ireland (22%), the United Kingdom (17%), Italy (17%), the Netherlands (17%) and Germany (10%).<\/p>\n
CDP’s findings show that Europe’s leading companies share several characteristics, including strong governance, a credible transition plan for 1.5\u00b0C temperatures, and a direct link between executive pay and the environment. <\/p>\n
Ariane Coulomb, EMEA market director at CDP, explains: “Climate change and nature loss are reshaping cost structures and supply chains across sectors. Companies that act early, invest in sustainable strategies and persist despite the uncertainties will be the ones that define the next phase of Europe’s economic resilience and growth.” <\/p>\n
Many of those gathered in Paris made it clear that they believe climate change and nature loss are rapidly changing the way businesses operate. <\/p>\n
\u201cEvery business in existence depends on nature in some way. They depend on water, fresh air, clean air, healthy soil, and solid ground,\u201d said David Craig, co-chair of the Task Force on Nature-Related Financial Disclosures (TNFD). <\/p>\n
For many companies, Craig argues that sustainability efforts often start with a simple question: “What do we actually depend on?”<\/p>\n
Cadieux argues that closer scrutiny of sustainability will also bring more focus to potential financial and operational risks to companies. He argues that this alone is forcing many companies to rethink their strategies. <\/p>\n
More than a quarter of a century later, CDP continues to play a key role in driving progress towards a more sustainable future, and its 25th anniversary was also an opportunity to celebrate the continent’s most transparent businesses through its annual European Awards. <\/p>\n
“If you look back 25 years ago, climate data disclosure just didn’t exist. So for the last 25 years, CDP has been working not only with people in the environmental ecosystem, but also with people in the financial ecosystem, the economic ecosystem, the policy-making ecosystem. I think we should be proud,” CDP CEO Shelley Madera told Euronews.<\/p>\n<\/p><\/div>\n
#Europe #leads #climate #change #CDP #celebrates #25th #anniversary<\/p>\n","protected":false},"excerpt":{"rendered":"
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