CENTRICA PLC
17 October 2014
11:14
Centrica has been recognised as a leader for its strong approach to disclosure and mitigation of climate change by CDP, an international NGO formerly known as the Carbon Disclosure Project, who represent investors with around a third of the world's invested capital.
Centrica has secured its highest result to date in the 2014 CDP assessment, having achieved a joint-top position. For the first time, Centrica received an 'A' for performance which puts it in The A List: The CDP Climate Performance Leadership Index. The company is also one of only nine to feature in the Climate Disclosure Leadership Index (CDLI) for the seventh consecutive year.
These performance scores provide an important tool for a growing number of institutional investors including many pension funds, representing more than US$92 trillion in assets, who evaluate the companies they invest in based on their approach to climate change.
Centrica was one of 187 companies awarded an 'A' grade for reducing greenhouse gas emissions. It also achieved hundred out of a hundred for disclosure, which places the business in the CDLI comprised of companies scoring in the top 10% for transparent disclosure and robust data management of climate change information.
Only 11 other companies secured top positions in both performance and disclosure Indexes, highlighting the fact that effective management of climate change impacts is core to how Centrica does business. This is shown by our commitment to reduce customer energy consumption through energy efficiency measures and our focus on innovative technology to help customers better understand and manage their energy use; such as smart meters, of which British Gas is the leading installer in the UK.
We also have an important responsibility to secure energy supplies for our customers in a way that limits our impact on the environment, and our strategic investments in gas, nuclear and wind energy, means that we have one of the lowest carbon intensity fuel mixes of suppliers in the UK.
Jim Rushen, Head of Environment at Centrica said, 'We recognise the impact energy can have on climate change so we are committed to helping our customers reduce their carbon emissions through innovative products while effectively managing those within our own operations. Coming top in these indexes therefore reaffirms our efforts to manage and reduce our climate change impact while securing energy needed to keep homes and businesses warm and well lit'.
Paul Simpson, Chief Executive Officer of CDP, stated, 'Global greenhouse gas emissions continue to rise and we face steep financial risk if we do not mitigate them. The need for data on corporate climate change impacts and strategies to reduce them has never been greater. For this reason we congratulate those businesses that have achieved a position on CDP's CDLI and on The A List. These companies are responding to the ever-growing demand for environmental accountability and at the same time are making progress towards the realisation of sustainable economies'.
A full list of CDP results can be found at http://www.cdproject.net/.
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About CDP
CDP is an international, not-for-profit organisation providing the only global system for companies and cities to measure, disclose, manage and share vital environmental information. They work with market forces, including 767 institutional investors with assets of US$92 trillion, to motivate companies to disclose their impacts on the environment and natural resources as well as take action to reduce their impact. CDP now holds the largest collection globally of primary climate-change, water and forest risk commodities information and puts these insights at the heart of strategic business, investment and policy decisions.www.cdp.net to find out more.
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