Storebrand Commended for Climate Change Disclosure

Storebrand has been commended by the Carbon Disclosure Project (CDP), which represents 475 institutional investors with $55 trillion in assets under management, for its approach to climate change disclosure.

For the first time Storebrand is featured in CDP’s Carbon Disclosure Leadership Index (CDLI). This index, a key component of CDP’s annual Nordic 200 Report, highlights the constituent companies within the Nordic 200 Index which have displayed the most professional approach to corporate governance in respect of climate change disclosure practices.

Companies are scored on their climate change disclosure and high scores indicate good internal data management and understanding of climate change related issues affecting the company.
 
The CDLI, compiled by the Sustainable Investment Research Platform (sirp) at USBE and funded by Mistra on behalf of CDP provides an evaluation tool for institutional investors. It comprises the top scoring 10% of companies in the Nordic 200 based on analysis of the responses to CDP’s 2009 questionnaire which focused on greenhouse gas emissions, emissions reduction targets and risks and opportunities associated with climate change.

- We are very proud to be included in Carbon Disclosure Leadership Index, says Elin Myrmel-Johansen, Executive Vice President CR. - Our ambition is to be the leader among Nordic companies in corporate responsibility and responsible investments. This also means being best in class regarding keeping our own house in order. Reporting our own emissions, which we have done the past two years, is a part of  keeping our house in order, she adds.

- The recognition that we are best among Nordic financial companies in reporting and manage greenhouse gasses, is a reason good enough to makes us all very proud, says the Executive Vice President CR.

Storebrand’s emissions stem mainly from is energy consumption and travelling (by air and car). The company has reported its greenhouse emissions based on GHG-protocol. Storebrand is the first Norwegian financial enterprise to become climate-neutral, by buying UN certified climate quotas for its total CO2 emissions from air travel, energy consumption and company vehicles.

”The CDP project plays a pivotal role in informing the institutional investors on greenhouse emissions, and emissions management. As for Storebrand, which put  strict climate criteria on its investments, it is important to show that we also have high ambitions when it comes to our own  reporting on greenhouse gasses and emissions managemenet”, says Christine Tørklep Meisingset, head of Department for Social Responsible Investments.

Paul Dickinson, Chief Executive of the Carbon Disclosure Project, commented:
“Companies recognised in the Carbon Disclosure Leadership Index are rewarded for high quality responses to CDP, which demonstrate a good understanding of how climate change is and will continue to impact their business. Companies which control their risks today, manage their emissions and seize the opportunities to produce low carbon goods and services, will be the best placed to prosper in a low carbon economy of the future.”

The Nordic 200 Report including names of companies featured in the Carbon Disclosure Leadership Index was launched at Finansdepartementet on the 28th October.


About CDP:
The Carbon Disclosure Project (CDP) is an independent not-for-profit organisation holding the largest database of corporate climate change information in the world. CDP gathers data through its annual Information Requests on behalf of institutional investors, purchasing organisations and government bodies.  Since its formation in 2000, CDP has become the gold standard for carbon disclosure methodology and process, providing essential climate change data to the global market place.

Investor CDP represents some 475 institutional investors, with combined assets under management in excess of $55 trillion.  CDP also works with private and public sector organizations to facilitate the collection of climate change data from their supply chains, as well as with local government to drive emissions reduction and sustainable development in key cities around the world.  Some 2,500 major corporations around the globe report their greenhouse gas emissions and the risks and opportunities posed by climate change through CDP.  

The Carbon Disclosure Project is a U.K. Registered Charity (no. 1122330). In the United States, CDP’s sponsor liaison is Rockefeller Philanthropy Advisors, which provides CDP with 501(c)3 charitable status.