Toronto and Montreal, October 16, 2012 -
Canada's largest public companies are improving transparency on
climate change issues, but must improve their performance in acting
to mitigate greenhouse gas emissions, according to a report published by the Carbon Disclosure
Project (CDP) and Accenture (NYSE: ACN).
The 2012 Canada 200 study of the carbon management activity of
the largest publicly traded Canadian companies reveals that
companies have disclosed more information through CDP this year
than in any of the six years that the report has been
Respondents showed an average carbon disclosure score of 60, an
increase of nine percent from 2011, reflecting improved quality and
depth of information provided by individual Canadian companies on
their carbon management and disclosure.
The Canada 200 report also shows that 77 percent of responding
companies are already integrating climate change into their
business strategies, up four percent from last year.
Despite a growing awareness of the business impacts from climate
change, companies need to improve their carbon management further,
the report states.
For the first time, the Canada 200 Report publishes scores that
rate the climate change mitigation actions of Canadian companies.
To be named in the Carbon Performance Leadership Index (CPLI),
companies must have a score of at least 85 and meet other specific
criteria as noted in the report. Bank of Montreal is the sole
company to be placed in the new Canadian CPLI.
"From Bay Street to Wall Street,
investors are watching out for green returns, and companies seeking
a competitive advantage still have opportunities to improve their
carbon performance by defining emissions reductions targets,
verifying and assuring emissions data, and accelerating
achievements in emissions reduction." Zoe Tcholak-Antitch, CDP's
North American director.
"Canadian companies are tackling the challenge of climate change
head-on, and moving toward a model of superior, forward-looking
leadership that has a better understanding of their carbon risk
profile," said Michael Denham, President and Country Managing
Director at Accenture in Canada.
"We can expect to see a rising number of Canadian corporations
take steps to improve their disclosure and sustainability strategy,
as more business leaders recognize that enhancing transparency not
only improves their reputation, but their business
Each year, CDP requests information from 200 of the largest
corporations in Canada by market capitalization. In 2012, the
request was sent on behalf of 655 institutional investors with more
than US$78 trillion in assets. CDP teamed with Accenture who
reviewed company responses and wrote this year's Canada 200
Accenture considered results from 107 Canadian corporate
respondents related to carbon-related governance, strategy and
initiatives, targets, communications, risks and opportunities and
emissions. The responding companies represent 79 per cent of the
largest 200 Canadian public companies by market
The Canada 200 Report includes many direct responses from
Canadian companies on the current risks and opportunities related
to climate change. For example, while companies see risk in the
uncertainty surrounding regulation, cap-and-trade programs and
carbon taxes, some do view cap-and-trade as an opportunity to
increase demand for products and services, while carbon and energy
taxes are regarded as an opportunity to increase energy efficiency
The leading 10 per cent of companies by carbon disclosure score
are recognized in the 2012 Canada 200 Carbon Disclosure Leadership
Index (CDLI) as follows:
2012 Score CDLI Company
91 Bank of Montreal**also ranked in
90 ARC Resources Ltd.
89 Stantec Inc.
88 Teck Resources Limited
84 TMX Group Inc.
84 Suncor Energy Inc.
84 Barrick Gold Corp.
84 Enbridge Inc.
83 TransCanada Corporation
83 Enerplus Corporation
82 Telus Corporation
82 Bank of Nova Scotia
80 Tim Hortons Inc.
79 Emera Inc.
79 Cenovus Energy Inc.
78 Toronto-Dominion Bank
78 Inmet Mining Corporation
78 Nexen Inc.
77 SNC-Lavalin Group Inc.
77 Canadian National Railway
Disclosure Project (CDP) is an international, not-for-profit
organization providing the only global system for companies and
cities to measure, disclose, manage and share vital environmental
information. Accenture is a global management consulting,
technology services and outsourcing company, with 257,000 people
serving clients in more than 120 countries.