Balfour Beatty recognised as world leader for corporate action on climate change
15 October 2014
Balfour Beatty plc has been awarded a position on 'The A List: The CDP Climate Performance Leadership Index 2014' for its actions to reduce carbon emissions and mitigate the business risks of climate change.
The index presents 187 listed companies identified as demonstrating a superior approach to climate change mitigation. It has been produced at the request of 767 investors who represent more than a third of the world’s invested capital by CDP, the international NGO that drives sustainable economies.
Information provided by nearly 2,000 listed companies has been independently assessed against CDP’s widely-respected scoring methodology and ranked accordingly. Balfour Beatty is one of the 187 that has been awarded an A grade for its climate performance, and one of only two companies from the construction sector earning a position on this global ranking of corporate efforts to mitigate climate change.
Chris Vaughan, Chief Corporate Officer at Balfour Beatty says, “We are hugely honoured to be included in the CDP’s A List, providing recognition for our work in reducing carbon emissions across our project sites, offices and off-site manufacturing facilities. Since 2010, we have reduced our emissions intensity from 42.4 tonnes of CO2/£m turnover to 35.6 tonnes of CO2/£m. Importantly, we are also helping our clients reduce the lifetime emissions of the infrastructure assets we build, finance and maintain for them.
“Our 2013 return to CDP represents an important milestone towards our target of reducing Scope 1 and 2 emissions by 50% relative to 2010, by 2020.”
Paul Simpson, chief executive officer of CDP, comments: “Global greenhouse gas emissions continue to rise and we face steep financial risk if we do not mitigate them. The business case for action to mitigate climate change has never been stronger or more urgent. For this reason we congratulate those businesses that have achieved a position on The A List: The CDP Climate Performance Leadership Index. These companies are responding to market demand for environmental accountability and at the same time are making progress towards the realization of sustainable economies.”
CDP performance scores provide a tool for institutional investors and stakeholders to evaluate and track corporate efforts to mitigate climate change. Scores are communicated to investors and other decision makers through various channels, including Bloomberg terminals, to help them assess corporate preparedness for changing market demands and emissions regulation.
The A List: CDP Climate Performance Leadership Index 2014, along with the climate disclosures of all companies publicly taking part in CDP’s climate change program this year, is available on CDP’s website.