Building Investor Confidence on Climate Change
Enbridge’s Paul Hunt today called participation in the Carbon Disclosure Project (CDP), the global voluntary reporting initiative, “essential” for companies seeking to build investor confidence on the issue of climate change.
“Climate change is not just an environmental issue – it’s a business issue, affecting a company’s image and investor behaviour. Investors carry significant clout and have demonstrated a growing interest in and concern about climate change and the greenhouse gas emissions of the companies in which they invest,” said Hunt, Enbridge’s Director of Sustainability, in his remarks this afternoon to business executives and investors at the CDP’s Canada Spring Workshop 2013 in Toronto. He added that 35 of Enbridge’s largest 50 investors describe themselves as being “socially responsible,” and that these investors own about $16.5 billion of shares in Enbridge. “These are the same investors that support the CDP,” he added, “so clearly what they think matters to us.”
Hunt said Enbridge is among thousands of companies that voluntarily measure and disclose their greenhouse gas emissions and climate change strategies through the CDP, an international, non-profit organization that works with institutional investors to help reveal risk in their investment portfolios. In 2012, Enbridge filed its latest annual report to the CDP – its eighth since 2007.
“There is a growing need to build market and stakeholder confidence through transparency and information disclosure,” said Hunt. “The reporting requirements of the CDP are consistent with our company’s climate change and corporate social responsibility strategies.”
Stephen Donofrio, CDP’s Director, North America, and an organizer behind the workshop, said reporting to the CDP continues to gain in importance: “Each year investors ask companies to disclose vital information on their environmental impacts and strategies through CDP. This year the request for corporate climate change information comes from 722 investors representing US$87 trillion in assets.”
Hunt said Enbridge continues to earn recognition by the CDP for the quality of its reporting. In October 2012, the company was once again selected to the CDP’s prestigious Canada 200 Carbon Disclosure Leadership Index, which highlights the top 20 Canadian companies that have displayed a strong approach to information disclosure regarding climate change.
“Being acknowledged by the CDP for our climate change and corporate responsibility reporting and greenhouse gas management helps our reputation as a company.”
For more information on the CDP, see our recent interview with Stephen Donofrio, CDP’s Director, North America.