BT has announced plans to cut its carbon emissions by 80 percent by 2020 and published a “Climate Stabilization Intensity Target,” that creates a relationship between BT’s CO2 emissions and its financial performance so that they become interdependent.
According to BT’s 2008 CSR report, the company has reduced emissions in the UK by nearly 60 percent between 1996 and 2008.
BT says that CSI links a company’s financial and environmental performance to the necessary CO2 reductions, is fully in line with the worldwide reduction imperatives outlined in the Stern Report and reports by the UN Intergovernmental Panel on Climate Change, and allows for business growth while still respecting global CO2 reductions.
Connecting financial and environmental performance is an issue EL has reported on recently. As reports encompass more data, CFOs, who are better qualified to verify whether data is accurate and up-to-date, might take the lead in sustainability reporting.
We’re already seeing a move to roll sustainability reporting into annual reports (BASF made a big deal when it combined its reports earlier this year). Timberland recently announced plans to report CSR data the same way it reports its earnings data — quarterly and online, followed by a stakeholder call that will include Timberland CEO Jeffery Swartz.
BT intends to meet the 80-percent reduction target through a continued combination of energy efficiency, on-site renewable generation (25 percent wind by 2016 in the U.K.) and low-carbon electricity.
Last December, BT won the top accolade at the Association of Chartered Certified Accountants’ annual UK Awards for Sustainability Reporting.