Awareness of the risks and opportunities of climate change has not translated into widespread planning and action by Canada’s largest corporations, according to the findings of the Carbon Disclosure Project Report Canada 280, released yesterday by The Conference Board of Canada.
Only 36 percent of respondents have a greenhouse gas reduction plan, and just 20 percent have a reduction target with a timeline. Forward-looking financial and strategic information is largely absent from companies’ responses. Eighty-two percent of respondents failed to address the financial significance of climate change to their operations.
One-quarter of all respondents-rising to 40 percent of those in emissions-intensive sectors-cited regulatory uncertainty in the first Kyoto commitment phase as the major barrier to estimating the potential cost of reducing emissions.
The Carbon Disclosure Project, which represents 225 global investors with more than $31.5 trillion in assets, annually calls on the world’s largest corporations to disclose their strategies regarding climate change and GHG-emissions reductions.