iCompli Sustainability

01 Apr

 

 

  1. A bitter divorce: Exxon vs. Rockefeller

    Last week, Rockefeller Foundation posted  an open letter to the public describing Exxon as “morally reprehensible” for misleading the public on climate change...Exxon is a direct descendent of Rockefeller’s Standard Oil Company.

    Eyes widened further when the SEC ruled Exxon must abide by a shareholder proposal requiring disclosure on how the business will be affected by a 2-degree limit on global warming (Paris agreement). What could be a stronger signal that businesses/investors must grasp the business impacts of climate change?

    Let’s not talk about the US State Attorney Generals’ probe into Exxon’s climate change disclosures. The point is, go here to start managing your business carbon risk/opportunities.

  2. SASB: laser focused on the entire economy

    Yesterday, the final 8 of 79 industry standards were released, now covering the entire economy as delineated in the Sustainable Industry Classification System™ (SICS™)SASBChaired by Michael Bloomberg, representing stakeholders of $23.4T AUM / $11T  market cap, and focused singularly on ESG reporting for shareholders.

    SASB also just announced– iCompli is one of a select group of SASB Advisory PartnersContact us for aligning your current disclosures to SASB, as well as GRI, DJSI, CDP.

     

  3. SASB sector reports - CSR Hub has released its 2nd SASB sector report on the current state of sustainability reporting by sector – this time for the Apparel, Accessories and Footwear industry, as classified in SICS™. To learn more go here.

    Like the three things? Forward to a colleague - subscribe to key industry news you can scan in a minute - straight to your inbox.

    Join our speedinar on “Everything you need to know about Carbon Management, but were afraid to ask…in 30 minutes.” April 14th, 1 pm EST. Register here.

 

 

17 Mar

1. Reporting gone mainstream

Sustainability/ESG has shifted from best practice to expected practice as indicated by the number of S&P 500 companies that report. 2015 numbers just released spiked to 81%, up from 75% in 2014 and 20% in 2011. If you’re not reporting yet, you will be soon. 

2. Corporate GHG reduction plans: poised for take off

This weekend’s shocker news that 2015 global temps surged well past forecasts will intensify corporate GHG reduction programs as the world focuses on carbon pricing mechanisms (Washington announced a likely carbon tax this week). NASA announced ave. global temps were 1.35C/2.4F above normal for Feb -- the biggest monthly increase against the 1951-80 baseline.

3. The brand new GHG Scope 2 has split in two! 

If responding to CDP, or reporting GHG figures elsewhere, be aware a new GHG Protocol Scope 2 Guidance was released in 2016. This is the most significant change to this GHG Protocol since its introduction in 2001. It splits Scope 2 into two numbers: location based and purchased electricity (highlighting low carbon sources). It also provides guidance on how to validate the nature of these emissions. Verification becomes even more valuable since verified CDP responses score higher (go to page 15 of this CDP document). 

 

10 Mar

1. The holy grail: CSR does add market value

New research has attributed 4.5-6.2% of CSR contribution to corporate reputation value, or $.68B -$2.39B of market value, in top CSR performers in the UK. The average contribution is 2.4% of total value. Results for US firms will be released in April. Common factors for top performers:  science- or context-based goals and then measured, managed and reported performance against them (this is a common theme - more in item 3 below). More here

2. Seven NASDAQ (Europe) exchanges join ESG disclosure movement

Yesterday, Nasdaq announced exchanges in Stockholm, Helsinki, Copenhagen, Reykjavik, Tallinn, Riga and Vilnius will have environmental, social and governance (ESG) disclosures for listed companies by the end of 2016. The United Nations Sustainable Stock Exchanges (SSE) initiative’s “Campaign to Close the ESG Guidance Gap” now has 15 exchanges with published guidance and 20 exchanges committed to publish guidance by the end of 2016. More here.

3. New CDP scoring method for 2016 rankings 

In the past, a CDP reporting entity received a numerical disclosure score, and then a letter grade performance score for its actions on climate change mitigation, adaptation and transparency. Now, CDP will assign a single score, from A to D-. All grades will be enhanced for best practices such as verified data, and science-based targets. Go here for how to get your data verified.