$31 Trillion Investors Seeks Greenhouse Disclosure
PRESS RELEASE - 1 Feb 2006
$31 Trillion Investor Coalition Seeks Further Greenhouse Gas Disclosure From World’s Largest Corporations
Today a group of 211 institutional investors with assets of $31 trillion under management is writing to 1,800 of the largest quoted companies in the world by market capitalisation, asking for the disclosure of investment-relevant information concerning their greenhouse gas emissions.
This is the fourth iteration of such a request, see www.cdproject.net. In this request a larger group of investors have collaborated to ask for this data. Corporations that previously provided responses are invited to report progress. Companies that previously did not respond are requested to do so, or to provide a reason why they do not believe the request is relevant to their business.
The previous three requests were sent to the 500 largest corporations by market capitalisation in the world, the FT500. This fourth request will also be sent to the following groups:
500 of the largest companies in the USA based on market capitalisation (S&P 500), in partnership with the Investor Network on Climate Risk (INCR).
the largest electric utilities globally based on market
capitalisation, in partnership with CalPERS and CalSTRS.
300 of the largest emitters in Canada, in partnership with the Conference Board of Canada.
200 of the largest companies in Germany based on market capitalization, in partnership with BVI Bundesverband Investment und Asset Management e.V. (German Investment and Asset Management Association)
150 of the largest companies in Japan, selected by and in partnership with the Association for Sustainable and Responsible Investment in Asia (ASrIA) and the CDP Secretariat Japan.
150 of the largest companies in Australia and New Zealand based on market capitalisation (ASX100 & NZ50), in partnership with the Investor Group on Climate Change.
120 of the largest companies in France based on market capitalisation (SBF 120), in partnership with AXA and Agence de l’Environnement et de la Maîtrise de l’Energie (ADEME), the French Governmental Agency for Environment and Energy Efficiency.
100 of the largest companies in the UK based on market capitalisation (FTSE 100), in partnership with the UK Climate Impacts Program.
50 of the largest companies in Brazil, listed on the BOVESPA Sao Paulo Stock Exchange, in partnership with the Brazilian Association of Pension Funds (ABRAPP) and BANCO ABN AMRO REAL.
40 of the largest companies in Asia outside of Japan, selected by and in partnership with the Association for Sustainable and Responsible Investment in Asia (ASrIA).
Commenting on the information request, Paul Dickinson, the project Coordinator, said:
"The numerous indications of accelerating human induced climate change make it clear that there are business risks and opportunities that have implications for the value of investments in corporations worldwide. Examples include changes in weather patterns; political and regulatory momentum moving against significant carbon emitters; the development of emissions-sensitive technologies, products and services superseding those existing today; and shifts in consumer sentiment due to a corporation’s stance on climate change.
This makes it necessary for investors to improve their understanding of climate change risks and opportunities. The data to assess these issues is not always available, sometimes lacks comparability or is of poor quality. The Carbon Disclosure Project aims to encourage the development of a common emissions measurement methodology and to facilitate its integration into general investment analysis. The signatories recognise that companies face pressure to comply with constant demands for information and so have joined in this single call for information to reduce the number of requests."
The recipient corporations have been asked to respond within four months. The information received will be summarised in various reports and these will be distributed to participating institutional investors and companies that respond to the questionnaire. These reports will be made publicly available at www.cdproject.net from September 2006. All submitted data authorised for publication will also be available from the web site at this time.
This initiative has been coordinated by the Carbon Disclosure Project, a special project of the Philanthropic Collaborative of Rockefeller Philanthropy Advisors in New York.
The group of investors is not a legal entity and the Carbon Disclosure Project has no authority to make any other statement on behalf of the participants.
Paul Dickinson, Project Coordinator
The CDP has been financially supported by: Climate Initiatives Fund UK, Esmée Fairbairn Foundation UK, Home Foundation Holland, Lens Foundation for Corporate Excellence USA, Network for Social Change UK, Polden Puckham Charitable Foundation UK, Rockefeller Brothers Fund USA, Rufus Leonard UK, The Carbon Trust UK, The Funding Network UK, The Nathan Cummings Foundation USA, Turner Foundation USA, W. Alton Jones Foundation USA, WWF UK.
ABN AMRO Bank N.V.
ABRAPP - Associação Brasileira das Entidades Fechadas de Previdência Complementar
Activest Investmentgesellschaft mbH
Acuity Investment Management Inc
AMB Generali Asset Managers Kapitalanlagegesellschaft mbH
AMP Capital Investors
ANBID - Brazilian Association of Investment Banks
Australia and New Zealand Banking Group Limited
Australian Ethical Investment Ltd
Baillie Gifford & Co
Banco do Brazil S.A.
Bank Sarasin & Co, Ltd
BBC Pension Trust Ltd
BMO Financial Group
BNP Paribas Asset Management (BNP PAM)
Boston Common Asset Management, LLC
BP Investment Management Limited
Brasilprev Seguros e Previdência S.A.
British Columbia Investment Management Corporation (bcIMC)
BT Financial Group
BVI Bundesverband Investment und Asset Management e.V.
Caisse des Dépôts
California Public Employees' Retirement System
California State Teachers' Retirement System
Calvert Group, Ltd.
CAM North America LLC (a subsidiary of Legg Mason, Inc), Social Awareness Investment Program
Canada Pension Plan Investment Board
Carlson Investment Management
Catholic Superannuation Fund (CSF)
CCLA Investment Management Ltd
Central Finance Board of the Methodist Church
CI Mutual Funds Signature Funds Group
Citizens Advisers Inc
Close Brothers Group plc
Comité syndical national de retraite Bâtirente
Connecticut Retirement Plans and Trust Funds
Co-operative Insurance Society
Credit Suisse Group
Daiwa Securities Group Inc.
Delta Lloyd Investment Managers GmbH
Deutsche Postbank Privat Investment Kapitalanlagegesellschaft mbH
Development Bank of Japan
Development Bank of the Philippines
Dexia Asset Management
Domini Social Investments LLC
DWS Investment GmbH
Environment Agency Active Pension Fund
F&C Asset Management
Fédéris Gestion d'Actifs
First Swedish National Pension Fund (AP1)
Five Oceans Asset Management Pty Limited
Folksam Asset Management
Fonds de réserve pour les retraites – FRR
Franklin Templeton Investment Services Gmbh
Frater Asset Management
Fukoku Capital Management Inc
Gartmore Investment Management plc
Gen Re Capital GmbH
Generation Investment Management
Gerling Investment Kapitalanlagegesellschaft mbH
Hastings Funds Management Limitied
Henderson Global Investors
Hermes Investment Management
Hospitals of Ontario Pension Plan (HOOPP)
HSBC Holdings plc
Hyundai Marine & Fire Insurance Co, Ltd
I.DE.A.M Integral Dévelopment Asset Management
Indexchange Investment AG
ING Investment Management Europe
Insight Investment Management (Global) Ltd
Interfaith Center on Corporate Responsibility
Ixis Asset Management
Jupiter Asset Management
LBBW - Landesbank Baden-Württemberg
Legal & General Group plc
Light Green Advisors, LLC
Local Authority Pension Fund Forum
Lombard Odier Darier Hentsch & Cie
Maine State Treasurer
Meag Munich Ergo Kapitalanlagegesellschaft mbH
Meeschaert Asset Management
Meiji Yasuda Life Insurance Company
Meritas Mutual Funds
Merrill Lynch Investment Managers
Mitsubishi UFJ Financial Group (MUFG)
Mitsui Sumitomo Insurance Co., Ltd.
Mizuho Financial Group, Inc
Monte Paschi Asset Management S.G.R. - S.p.A
Morley Fund Management
Natexis Banques Populaires
National Australia Bank Limited
New York City Employees Retirement System
New York City Teachers Retirement System
New York State Common Retirement Fund
Newton Investment Management
NFU Mutual Insurance Society
Nikko Asset Management Co., Ltd.
Ontario Municipal Employees Retirement System (OMERS)
Ontario Teachers Pension Plan
Oregon State Treasurer
Pax World Funds
PETROS - The Fundação Petrobras de Seguridade Social
Pictet & Cie (Europe) SA
PREVI - Caixa de Previdência dos Funcionários do Banco do Brasil
Public Sector Superannuation Scheme and Commonwealth Superannuation Scheme (PSS/CSS)
Rathbone Investment Management / Rathbone Greenbank Investments
Real Assets Investment Management Inc.
Rockefeller & Co Socially Responsive Group
SAM Sustainable Asset Management
Sanlam Investment Management
Sanpaolo Imi Asset Management Sgr
Scottish Widows Investment Partnership
Second Swedish National Pension Fund (AP2)
Shinkin Asset Management Co., Ltd
Siemens Kapitalanlagegesellschaft mbH
SNS Asset Management
Societe Generale Asset Management UK Limited
Societe Generale Group
Sompo Japan Insurance Inc.
Standard Life Investments
State Street Global Advisors
State Treasurer of California
Sumitomo Mitsui Financial Group
Superfund Asset Management GmbH
Swiss Reinsurance Company
TfL Pension Fund
The Co-operative Bank
The Dreyfus Corporation
The Ethical Funds Company
The Shiga Bank Ltd. (Japan)
The Wellcome Trust
Third Swedish National Pension Fund (AP3)
Threadneedle Asset Management
Tokio Marine & Nichido Fire Insurance Co., Ltd
Trillium Asset Management Corporation
Tri-State Coalition for Responsible Investing
United Methodist Church General Board of Pension and Health Benefits
Universities Superannuation Scheme (USS)
Vancity Group of Companies
Vermont State Treasurer
VicSuper Proprietary Limited
Walden Asset Management, a division of Boston Trust and Investment Management Company
Warburg-Henderson Kapitalanlagegesellschaft mbH
WestLB Asset Management (WestAM)
Zurich Cantonal Bank