Climate and the corporate world

Sustainability may still be a fad, but going by a recent study, many companies are taking serious note of climate change.

The 10th annual Carbon Disclosure Project, which analysed responses from 396 of the 500 largest companies in the world, found more than two-thirds (68%) now say they put climate change central to their business, compared with 48% last year.

Almost half (45%) are now reporting they have cut their greenhouse gas emissions as a result of steps they have taken to tackle carbon, up from less than a fifth (19%) in 2010.

The Carbon Disclosure Project report, written by PwC, also said there was a link between higher stock market performance and action on climate change, with those that have a strong focus on the issue providing investors with approximately double the average return over the period 2005 to 2011.

The CDP report suggests that rising oil prices, risky energy supplies and growing recognition of the returns on investment in cutting emissions have made climate change a more important issue in the boardroom.

It says that 59% of companies reported that the cost of schemes to reduce emissions such as energy saving projects in buildings, installing low-carbon power and changing the behaviour of staff, were recouped within three years.

Sure looks like we are in changing times.