Each year, the CDP issues a report card to see just how well, or not, businesses are responding to climate change.
CDP, formerly the Carbon Disclosure Project, runs the global disclosure system that enables companies, cities, states and regions to measure and manage their environmental impacts. It has built the most comprehensive collection of self-reported environmental data in the world and each year takes the data from more than 6,800 companies to issue a report card to see just how well, or not, businesses are responding to climate change. The grades range from A to D.
Split across climate change, water security and forests, the A List provides a holistic picture of how the corporate world is addressing environmental issues.
More than 120 companies made the A grade for their action on climate change, including China Mobile, Danone, Infosys Ltd., Klabin and Microsoft.
Acciona, Gap, Ford and Kao Corp. are among the more than 25 companies on the A List for their water security action.
Seven companies receive an A for their efforts to address deforestation, including Beiersdorf, Tetra Pak and UPM-Kymmene.
Firmenich, the world’s largest privately owned fragrance and flavor company, and French cosmetics company L'Oreal are the only companies to get A's across the board for their actions on climate change, deforestation and water security.
CDP also asked the companies how climate change could affect their businesses. Here’s what a few had to say:
• Bank of America is concerned homeowners facing flooding could default on mortgages.
• Disney worries its theme parks will become (even more) unbearably hot.
• AT&T is losing sleep over the prospect of hurricanes and wildfires knocking out its cell towers.
• Coca-Cola bites its nails wondering if there will still be enough water to make soda.
• Visa worries that global warming could increase pandemics and armed conflicts, in turn slashing global travel demand.
• Apple said more disasters would make iPhones more indispensable.
The full report and grades will be released in March 2019. Stay tuned.