Climate: 168 investors call on large companies to release their data

On the 06/23/21 at 7:56AM


Thibaud Vadjoux

Investors are calling for the adoption of standards on releasing environmental data that are aligned with the Task Force on Climate-Related Financial Disclosures (TCFD).

No fewer than 168 investors have asked 1,300 companies with high CO2 emissions to release their environmental data, via the ex-Carbon Disclosure Project (CDP). The releases would cover at least two of the following themes: climate, forests, and water management. And they and would be published on the CDP reporting platform.

This campaign against companies’ non-disclosure of data has met with record success. The number of investors supporting it has risen by 56% in one year, representing $17trn in assets under management. They include Amundi, Covea, Ostrum AM, OFI AM, Legal & General Investment Management, La Financière de l’Echiquier, ODDO BHF AM and Schroders. “CDP’s experience has shown that companies are more than twice as likely to disclose their environmental impact when they are questioned directly by investors,” the non-profit said.

Targeted companies include the French companies Aéroports de Paris, Bonduelle, Dassault Aviation and Essilor Luxottica, as well as companies like Netflix, Alibaba Group, Rio Tinto and Prada. Total market cap: more than $28trn. And an estimated total CO2 emissions of more than 4,700 megatons-equivalent of carbon dioxide (CO2) annually, or more than the European Union as a whole. 

“Investors need reliable, comparable and comprehensive data. For this to be possible and to help them define and achieve their own carbon-neutrality ambitions, they need for companies to be fully committed to TCFD-aligned standards regarding the disclosure of environmental data,” said Laurent Babikian, head of capital markets at CDP Europe. “Rather than distracting investors, the Covid-19 pandemic has made them even more needful of addressing global systemic risks, such as climate change, and the wind can quickly turn against companies that ignore investor requests”, he added.

The CDP’s campaign against non-disclosure is unfolding in parallel with the annual request that it sends to companies and that is approved by some 600 signatory investors. It does not require any direct engagement from them.

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