Fiat and Enel are the best listed Italian companies in terms of transparency and initiatives for the management of climate change among those questioned by Accenture through a questionnaire. This was announced by the Italy 100 report of the Carbon Disclosure Project (Cdp), which was presented today at the Italian Stock Exchange, in collaboration with Monte dei Paschi di Siena, and which revealed how climate change is increasingly integrated into the business of Italian companies : 82% of participating companies incorporate climate change into their business strategy. Cdp, a non-profit organization that holds the largest international database containing information on climate change management policies implemented by the most important global companies.
Accenture, which assisted the organization in drafting the report, questioned the 100 largest Italian companies by market capitalization listed on the Italian Stock Exchange regarding: carbon management, strategy and initiatives, reduction objectives, reporting and communication of emissions, risks and opportunities. Of these, 35 responded, compared to 21 in 2010 (+66%).
THE RESULTS OF THE REPORT
The results also indicate that 67% of companies have set themselves emissions reduction targets and there is a high level of involvement and responsibility of senior management (88% of companies) in managing issues related to this phenomenon. In addition, 91% of companies reported having undertaken programs to reduce emissions, compared to 86% in 2010 and 50% in 2009. However, only half of these initiatives are backed by rigorous financial analysis, which which makes it difficult to assess its overall economic impact.
In any case, the report highlights a trend that sees Italian companies moving from the traditional paradigm of climate change as a matter of compliance and risk management to a new model that also sees this phenomenon as an accelerator of business performance and value creation. 76% of companies expect that the risks associated with climate change will have the potential to produce a material change in business activities, revenues or expenses. Conversely, 79% believe that climate change could represent an opportunity for business, such as increasing demand for existing products or creating new business products and services.
In fact, 61% of respondents say they have products or services specifically designed to help customers reduce their carbon footprint. The report analyzes the responses in detail on the basis of two parameters: the quality of the information used to transparently disclose emissions policies (disclosure) and the quality of the initiatives aimed at managing climate change (performance). The assessment of the quality of disclosure and performance was performed by the Kyoto Club on the basis of a methodology developed by the CDP.
THE BEST COMPANIES
Lingotto and Enel obtain the highest score both in the Cpli index (Carbon performance leadership index), which measures the quality of initiatives aimed at managing climate change, and in the CDli index (Carbon Disclosure Leadership Index), which measures quality and the level of disclosure. Here Fiat is still a little better than Enel with a score of 93 against 89. Followed by Terna (87), and Banca Monte dei Paschi di Siena (86).
In 2010, the banking institution disbursed loans for renewables that exceeded one billion euros and in the first 6 months of 2011 they are already over 610 million euros. The leading sectors are photovoltaic and wind, which benefit from more mature technologies and an incentive framework. “In the fight against climate change, in which large investments are needed – says Gabriele Gori, Deputy General Manager of MPS Capital Services Montepaschi Group – the financial sector plays an important role.
The Montepaschi Group has been organizing itself for some time to seize these market opportunities by assisting customers in energy management through specific products and services". Fiat Industrial (84), Ubi Banca (84), Eni (83), Finmeccanica (80), Ansaldo Sts (79), Hera (78) follow in the ranking. The sectors with the highest disclosure score are “Energy” and “Industrial” respectively.
The highest scores are distributed among 10 companies from 5 different sectors. “Although in 2011 we have seen a marked increase in the number of Italian companies making their strategies on climate change and greenhouse gas emissions known through the CDP – said Diana Guzman, Southern Europe Director of the Carbon Disclosure Project – there is still a lot to do to reach the percentage of 100% that we would like to register in Italy. Measurement and transparency lead to better carbon management. Companies moving in this direction are gaining a leadership position for their ability to understand the risks and opportunities related to climate change and to protect themselves in the future from the impact of an economy with limited resources.”
The Carbon Disclosure Project offers a global system for evaluating and communicating climate change information to decision makers who use it for investment decisions, lending and insurance analyses. The data collected in the database is compiled on behalf of 551 institutional investors who manage over $71 billion, and on behalf of central purchasing and government agencies.
