Scania commended for Climate Change Disclosure
Scania has again been commended by the Carbon Disclosure Project (CDP), which represents 655 institutional investors with $78 trillion in assets under management, for its approach to climate change disclosure.
For the second time Scania is featured in CDP’s “Carbon Disclosure Leadership Index.” This index, a key component of CDP’s annual Nordic 260 Report, highlights the constituent companies within the Nordic stock exchanges 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 index, compiled by FirstCarbon Solutions on behalf of CDP provides an evaluation tool for institutional investors. In 2012 it comprises 26 constituents of the Nordic 260 Index based on analysis of the responses to CDP’s 2012 questionnaire which focused on greenhouse gas emissions, emissions reduction targets and risks and opportunities associated with climate change.
“Reducing carbon dioxide emissions from transport is a critical issues and addressing the impacts of our products in use is where we can make the greatest contribution in cutting emissions,” says Scania’s President and CEO Martin Lundstedt. “Scania works hard to support the sustainability efforts of its customers. Clearly, sustainability and profitability can go hand in hand – a great example of this is Ecolution by Scania, which strike the best possible balance between reduced carbon-dioxide emissions and fuel economy.”
Launched in 2010, Ecolution by Scania is a product offering that enables Scania’s customers to dramatically reduce costs, and carbon dioxide emissions while enhancing road safety. Ecolution components include: carbon dioxide- and bio-optimised vehicle specifications, driver training, feedback through Scania Fleet Management on real-time environmental and fuel performance and a maintenance agreement.
Energy and carbon efficiency is at the heart of Scania’s business, both when its products are in use and when they are being developed and manufactured. In 2011, energy use and carbon-dioxide emissions decreased despite increased production volume. Carbon dioxide emissions were cut to 0.94 tonnes per vehicle, a reduction of more than 20 percent compared to 2010.
“Extreme weather events are causing significant financial damage to markets,” says Paul Simpson, CEO of the Carbon Disclosure Project, “Investors therefore expect corporations to think more about climate resilience. There are still leaders and laggards but the economic driver for action is growing, as is the number of investors requesting emissions data. Governments seeking to build strong economies should take note.”
The Nordic 260 Report including names of companies featured in the Carbon Disclosure Leadership Index can be found at www.cdproject.net.
The Carbon Disclosure Project (CDP) is an independent not-for-profit organization holding the largest database of primary corporate climate change information in the world. Thousands of organizations across the world’s largest economies now measure and disclose their greenhouse gas emissions and climate change strategies through CDP, in order that they can set reduction targets and make performance improvements. This data is gathered on behalf of 655 institutional investors, with combined assets under management in excess of $78 trillion, as well as purchasing organizations and government bodies and made available for integration into business and policy decision making.