Italian companies appear increasingly sophisticated and mature in the level of verification of CO2 emissions, but despite this commitment, emissions do not decrease and investments aimed at reducing emissions are focused more on short-term projects. This is what emerges from the Cdp Italy 100 Climate Change Report 2013, published today by Cdp and Accenture.
In this year's report, as in last year's report, 46 of the top 100 companies in Italy responded voluntarily, representing more than three-quarters of the market capitalization value of the top 100 listed companies.
According to the Italian report, initiatives to reduce emissions have increased compared to last year +22% (from 180 to 221 initiatives), however alongside this increase does not correspond to an increase in investments which drop by 25% (from 3600 million euros to 2700 million euros).
Investments have been reviewed, focusing on smaller investments with shorter payback times. More than half (60%) of the initiatives have a return on investment within three years, only 15% within 10 years.
“There are very solid business cases that give companies an incentive to reduce their emissions. Investors are no longer just interested in themselves but in how the risks and opportunities related to climate change affect companies and how companies manage these effectively,” said Steven Tebbe, managing director of CDP Europe. And he adds: “Companies need to realize that these external pressures also bring opportunities to become 'frontrunners' and this includes not only tangible savings in the short term, but also in long-term resilience even in 'soft capital' that can be acquired through the actions taken on climate change”.
"The investments made to date, although encouraging, do not appear sufficient: it is necessary that the business strategies linked to sustainability are further strengthened to induce more concrete and long-term actions", says Danilo Troncarelli, Accenture's Sustainability Practice Manager. “Consumers – he underlines – should increasingly exercise their power of direction by rewarding the most virtuous companies, while investors could significantly support these companies by facilitating access to capital and offering better interest rates. Finally, government actors should support the construction of a stable regulatory system that encourages and encourages
the achievement of sustainability objectives in each economic sector and, ultimately, the development of a sustainable society”.
Despite the growth of initiatives, the report highlights difficulties in obtaining concrete results in terms of reducing emissions.
