Recently, the Climate Disclosure Project: CDP India Annual Report 2019 (Climate and Business Partnership of the Future: CDP India Annual Report 2019) has been released by the Carbon Disclosure Project- CDP on January 20, 2020. |
Important points contained in the report:
- This report surveys corporate commitments to science-based goals (SBT) and assesses the risk of climate change.
- According to the Carbon Disclosure Project 2019, about 6,900 companies have disclosed environmental data via CDP in the year 2018. These firms account for about 55% of global capitalization.
- In this report, America ranks first and Japan and UK are second and third respectively. It is noteworthy that the US has disclosed climate related activities of 135 companies followed by Japan of 83 companies and the United Kingdom has disclosed climate related activities of 78 companies.
- While France is ranked fourth with 51 companies revealing their details and India is ranked fifth with 38 companies for science-based goals. Significantly, in the year 2018, there were only 25 companies for SBT in India.
- The Netherlands ranks 10th with 18 companies in the SBT initiative.
Important facts of the report related to India
- India is ranked 5th ahead of Germany and Sweden. Thus, India is the first developing economy with maximum number of companies for science based goals.
- In this report, along with the formation of almost all the big companies for evaluating climate change, the changing outlook in India was also displayed. It is important to note that this change is driven by increased climate activism among climate-conscious investors and the youth of the country.
- The report found that investors responded better to companies that have disclosed their environmental activities.
- The report also claimed that investors have also taken into consideration the risk of climate change from Indian companies before investing in an organization.
- According to the Carbon Disclosure Project Report 2019, a total of 58 Indian companies have shared information about environmental related activities this year.
- The report also claimed that more than 98 percent of the top Indian companies have formed a committee or group within their organization to identify and address climate-related issues.
- Indian companies have expressed their commitment to address the challenge of climate change to reduce Bold Emission Reduction Targets and to promote renewable energy, enabling India to achieve its commitments under the Paris Agreement Will be marching on the route.
Carbon disclosure project
- It is a global non-profit organization based in the United Kingdom that collaborates in disclosing the environmental impact of major companies.
- The Carbon Disclosure Project is an initiative of the Global Reporting Initiative to measure carbon reduction activities conducted by various companies and firms in different countries around the world.