Report shows climate change opportunities for raising international competitiveness
Date Added: 4th April 2013 from Sustainable Business Council
The Sustainable Business Council (SBC) and Carbon Disclosure Project launched an Australia and New Zealand climate change report in February written by Deloitte Australia, highlighting the influence climate change is having on business.
The report, written by Deloitte, covers information from the Australian Securities Exchange top 200 companies (ASX 200) and New Zealand Exchange top 50 companies (NZX 50).
A key finding is that New Zealand companies are falling behind and need to prove their carbon disclosure if they are to satisfy investors and consumers
Factors traditionally considered less tangible, such as reputation and consumer behaviour, are now exerting greater influence than ever on company performance.
There has been considerable growth in investment funds considering sustainability as part of their investment decision. It isn’t just the “green” funds anymore, but much wider, and growing rapidly.
Brett Tomkins, Chair of the Sustainable Business Council, said “Investors often get their information from analysts and brokers, rather than directly from companies themselves. This means that whilst companies might not get direct questions about CDP issues, questions are being asked, and companies take a risk by believing that the area is not important or included in an investment decision.
“The report shows that New Zealand is behind the rest of the world and overall has relatively low quality climate change reporting. This should be a wakeup call for New Zealand business,” Mr Tomkins said.
Australia and New Zealand Director of the Carbon Disclosure Project James Day said that while NZX companies were lagging behind their lagging international peers on carbon disclosure, the report identified many opportunities for improvement. “We look forward to helping New Zealand companies move towards gaining competitive advantage,” Mr Day said.
Penny Nelson, executive Director of the Sustainable Business Council said it was heartening to see SBC member Westpac recognised for its high quality carbon disclosure. “Westpac is the only NZX 50 company recognised on both the Carbon Disclosure Leadership Index and the Carbon Performance Leadership Index. This helps set an example to other NZ companies . SBC and the CDP would be happy to work with any companies wanting to improve their carbon performance and raise their international competitiveness," Ms Nelson said.
Brett Tomkins 021 221 4805
James Day 0204 015 6932 (Thursday only - call +61 434 194 705 from Friday onwards)
Penny Nelson 021 460 160