Climate performance must be more ambitious

The CDP , formerly the Carbon Disclosure Project, measures the impact of the world's largest listed companies on climate change, water resource management, and deforestation. Since 2000, this British NGO, supported by more than 800 signatory investors who have given it a moral mandate, has conducted an annual campaign to collect greenhouse gas (GHG) emission information from these multinationals. 

The largest environmental corporate database in the world is fed by a questionnaire sent to companies . In 2016, 2,480 companies in 85 countries and representing 55% of the world's market capitalization returned the climate change questionnaire, 610 the water questionnaire and 220 the forest questionnaire. In return they receive a rating.

A still shy 2016 

Of the 1,839 companies identified by the CDP around the world as having a significant impact on climate change, 1,089 responded to the questionnaire and will be monitored for five years on their commitments . Similarly, the CDP will analyse developments in the 750 companies that have not answered to the questionnaire yet. Highlighted is the fact that while 85% have targets for mitigating their GHG emissions, only 14% project beyond 2030. This business as usual scenario covers only 25% of the effort required to be in line with the goal of + 2°C by 2050. We must therefore persuade them to extend the timescale for their objectives - and to do so in a more radical way.
In the France and Benelux region, a major effort is still required as 56% of the 150 respondents have targets for 2020 but only 19% for 2050. In France, the 2015 law on energy transition and green growth  could be a useful ally - thanks in particular to article 173, which is exceptional and for the time being unique in the world. It started in 2016 and in essence asks every French investor to produce an annual declaration and report relating not only to the carbon footprint of its portfolio but also to its strategy for taking climate risks into account. In short, it creates a strong incentive for decarbonizing assets! Italy, Switzerland, and the Netherlands are now studying its implementation carefully...

An international strike force

With three other actors - the WWF , the UN Global Compact , and the World Resources Institute  - the CDP developed the Science Based Targets methodology  in preparation for COP21 . This encourages companies to align their quantifiable objectives with the trajectory of limiting global warming to below 2°C by 2050. Currently 205 companies worldwide, including Veolia , have taken the path of Science Based Targets and thirty have already had their targets validated. During COP21, we also co-founded one of the largest coalitions of companies and investors converted to fighting climate change - We Mean Business . And in the wake of the COP21, the Take Action campaign was launched. It invites companies to commit to one or more of the nine initiatives we recommend - eight in favour of climate, one for water. Our demonstration in Paris not only made it possible to perpetuate We Mean Business but also produced an invitation to the COP22 in Marrakech  to make a contribution on water. Our 2016 report on this particular topic is unequivocal : the financial risks have multiplied by 5 since 2015. It is the next time bomb - and we need to deal with as soon as possible!!

Abu Dhabi