October 25 marked the release of the 2016 Climate Change CDP results and what a successful year it has been for Carbon Smart’s clients! We helped insurance giant XL Catlin and global recruitment leaders SThree plc to tell their sustainability stories and maximise their CDP performance.
SThree plc increased their score from ‘74 E’ in 2015 (a ‘D’ in the 2016 scoring system) to ‘B’ in 2016. XL Catlin received a ‘B’ score – quite an achievement, particularly as 2016 was their first year of CDP disclosure as a group. These impressive achievements demonstrate that both organisations have gone beyond simply being transparent about climate change, and are now taking coordinated action on climate change issues, to improve the sustainability of their long-term operations.
2016 was all about change. Most significantly, CDP has simplified its scoring methodology. Gone is the slightly confusing combined letter and number score. Instead, this year CDP has implemented a more straightforward letter system, which grades companies from A to F, and is intended to shift the emphasis from simple disclosure towards calling for, and consequently rewarding, real action.
Companies are broadly split into 5 categories;
- Leadership (A/A-) – implementing current best practices
- Management (B/B-) – taking coordinated action on climate change issues
- Awareness (C/C-) – having knowledge of impacts on, and of, climate change issues
- Disclosure (D/D-) – being transparent about climate change issues
- F – failing to provide sufficient information to CDP to be evaluated
Moving forward, as the global landscape continues to change and companies begin to take the actions required to limit global warming to below 2°C, the CDP scoring methodology will continue to evolve. CDP is placing emphasis on initiatives which go beyond the norm, such as achieving emissions reductions, adopting science based targets, implementing internal carbon prices and investing in renewable energy. The changes signify a positive step towards rewarding those organisations that go beyond disclosure, and are leading the way in terms of managing and reducing their environmental impact. To quote CDP, “companies have an opportunity to demonstrate their leadership, agility and creativity in curbing their own substantial emissions”.
“We were really pleased to work with Carbon Smart on our CDP submission this year and increase our score from an E to a B. We find the team very professional and efficient in helping us progress on our environmental agenda.” Marie Broad, Head of Corporate Social Responsibility, SThree Plc
Carbon Smart will continue to work with clients across 2017 to support them on their sustainability journey and communicate their sustainability achievements in a way that helps them maximise their CDP performance.
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