Alphabet, Citigroup and Walmart named among global leaders on corporate climate action in CDP climate A List

Major North American brands including Alphabet, Citigroup, IGM Financial, Microsoft and Walmart have been named among 179 companies on CDP’s prestigious ‘A List’ for their leadership on corporate transparency and action on climate change, released by global non-profit CDP.

North American companies were strongly represented, reflecting 20% of the global A-List, with the second most A-List companies headquartered in the U.S. after Japan.

Designed to harness the competitive spirit of business to raise ambition and spur action on corporate climate action, CDP scores thousands of companies that disclose climate data through its platform each year at the request of their corporate customers and investors.

Data from STOXX has shown that the A-List has outperformed its global benchmark by an average of 5.5% per annum over a seven-year period. This indicates that transparency and leading action on climate change are correlated with financial success.

Out of over 8,000 companies worldwide scored on their 2019 disclosures—including more than 2,400 in North America—just the top 2% made the prestigious A-List. The U.S.  and Canadian A List companies include Alphabet (Google), Best Buy, Citigroup, CVS Health, General Mills, Hilton Worldwide, IGM Financial, Microsoft, Stanley Black & Decker and Walmart.

The A List companies are considered leaders because of their transparent and comprehensive disclosure of climate data, thorough awareness of climate risks, demonstration of strong governance and management of those risks, and demonstration of market-leading best practices. Examples of best practices could include setting science-based targets, shifting to renewable energy, investing in low-carbon product innovation, using internal carbon pricing or incentivizing suppliers to reduce their emissions.

The companies on the A List hail from 22 countries around the world. The countries with the headquarters of the most A List companies are Japan, the U.S. and France. Only one company in Canada made the A List. Regionally, Europe hosts the most A List companies, with nearly half of the global total (85 companies), followed by Asia and North America. Only four companies headquartered in Oceana are on the list (all in Australia), and two in Latin America (Brazil) and one in Africa (South Africa).

The A List is released on the eve of the World Economic Forum’s annual meeting in Davos this week, which brings together leading lights from business, government and civil society. Top of the agenda this year is “How to mobilize business to respond to the risks of climate change.” The CDP A List shows which companies are taking this global challenge seriously and working to address the risks.

Original source: CDP
Published on 20 January 2019