OgilvyEarth Global President Kim Slicklein today joined Paula di Perna, the Strategic Advisor of the Carbon Disclosure Project (CDP), to ring the opening bell of the New York Stock Exchange.  CDP is a non-profit organisation that provides a global system for thousands of companies and cities to measure, disclose, manage and share environmental information. It does in part this by working with 655 institutional investors holding US$78 trillion in assets to encourage companies to improve environmental disclosure and performance.This is instrumental in global efforts to drive greenhouse gas emission reductions and promote sustainable water use.

“The ringing of the bell marked the launch of CDP’s annual S&P 500 Climate Change Report analysing how the largest listed companies in the US are progressing toward a lower-carbon future. OgilvyEarth is CDP’s official Australian Communications Partner and the two organisations work closely together to ensure that CDP’s important messages resonate.

CDP is a great partner for OgilvyEarth here in Australia.  CDP’s Australian office is located at Ogilvy House in Sydney, and CDP shares OgilvyEarth’s commitment to professional excellence. In a 2012 survey of 850 sustainability professionals carried out by GlobeScan/SustainAbility, CDP was ranked as the most credible corporate sustainability rating system in the world, ahead of the Dow Jones Sustainability Indexes and the FTSE4GOOD Index Series.”

You can find out more about CDP on their website: https://www.cdproject.net/

Today marks the commencement of the 17^th annual Conference of the Parties (COP17) of the United Nations Framework Convention on Climate Change (UNFCCC) in Durban, South Africa. As with every COP meeting, commentators place undue emphasis on whether or not an all-encompassing global treaty will be achieved – a highly unrealistic expectation given the complexity of international negotiations. You only have to think about how long it takes for international trade agreements to be formalised to realise that in fact the practical progress achieved at each successive COP, by comparison, is impressive. OgilvyEarth’s partner, The Climate Institute, has a senior representative on the ground and actively involved in the Durban negotiations. To keep up with the progress of discussions over the next ten days, visit this link http://www.climateinstitute.org.au/durban for some important background and the regular video blogs and updates.

OgilvyEarth, Ogilvy PR’s sustainability communications practice, has today announced its Australian partnership with the Carbon Disclosure Project (CDP), an international NGO that operates the only global climate change reporting system for companies.

OgilvyEarth and CDP share a collective focus on supporting organisations to demonstrate leadership by taking action to measure, manage, reduce and communicate action on their environmental impacts. Now, with the recent passage of bills for a carbon price through the Australian Parliament, there is a growing impetus for organisations to measure, manage and disclose climate change information to their investors, purchasers, customers and other stakeholders.

OgilvyEarth’s Managing Director, Sarah Cruickshank, said “OgilvyEarth is delighted to have a formal partnership with the CDP in Australia. Like the CDP, Ogilvy Earth is committed to reducing the environmental impact of Australian businesses, and rigorous measurement and disclosure is a vital ingredient in delivering improved sustainability outcomes.  Along with the CDP, OgilvyEarth works closely with a range of other not-for-profit organisations to help bring them together with some of the nation’s largest organisations for the purposes of achieving the best possible environmental and social outcomes.”

The CDP has the largest database of corporate climate change information and acts on behalf of over 550 institutional investors globally (including 45 investors in Australia and New Zealand) with more than US$71 trillion in assets under management. 73% of ASX100 companies and 50% of ASX200 companies disclosed climate change information through the CDP in 2011.

The CDP released its Australia & NZ 2011 Report this week at Carbon Expo 2011 in Melbourne. The report revealed that only 4% of ASX200 and NZX50 responding companies reported that carbon pricing was a high impact risk to their business, while overall 33% of responding companies rated the risk as medium or above. The report is the sixth annual assessment of climate change disclosures made by ASX200 and NZX50 companies to investors through the CDP.

James Day, CDP’s Australia & NZ Director said, “CDP is delighted to be working in partnership in Australia with OgilvyEarth, one of Australia’s leading sustainability communications agencies. CDP hopes our partnership will result in more Australian companies realising the business benefits of high quality climate change communications with their employees, investors, suppliers and other stakeholders. For example, companies this year have reported through CDP that behavioural change initiatives typically offer fast payback periods of 1-3 years. Despite this, in Australia & NZ only 9% of ASX200 and NZX50 companies reported they were undertaking emission reduction initiatives relating to behavioural change.”

About CDP

The Carbon Disclosure Project (CDP) is an independent not-for-profit organisation providing a transformative global system for companies and cities to measure, disclose, manage and share climate change and water information. Over 3,000 organisations across the world’s largest economies now report their greenhouse gas emissions and assessment of climate change risk and opportunity through CDP, in order that they can set reduction targets and make performance improvements. This data is gathered on behalf of 551 institutional investors, holding US$71 trillion in assets. CDP now holds the largest collection globally of self-reported climate change data. For more information visit www.cdproject.net

About OgilvyEarth

OgilvyEarth is the sustainability communications advisory practice of Ogilvy PR Australia, a joint venture between Ogilvy PR Worldwide and the STW Communications Group, Australia’s largest marketing content and communications services group.

Only 4% of ASX200 and NZX50 responding companies reported that carbon pricing was a high impact risk to their business, while overall 33% of responding companies rated the risk as medium or above according to the latest report from the Carbon Disclosure Project (CDP) written by Deloitte Australia.

The CDP Australia & NZ Report 2011 is the sixth annual assessment of climate change disclosures made by ASX200 and NZX50 companies to investors through the CDP. 50% (up from 47% last year) of companies on the ASX200 responded to the CDP questionnaire asking them to measure and disclose what climate change means for their business, while 42% (down from 46% in 2010) responded from the NZX50.

Nathan Fabian, CEO of the Investor Group on Climate Change, said, “This year’s CDP report shows that only 4% of Australian & NZ companies reported to investors that carbon pricing was a high impact risk to their business. This is consistent with what companies have been telling the market for some time.”

Brad Pollock, Lead Partner – Sustainability & Climate Change at Deloitte Australia, said, “There is evidence in CDP 2011 disclosures of a two-speed business response to climate change by ASX and NZX companies, in terms of carbon disclosure and performance. Leading Australian companies, concentrated in the banking and property sectors, are continuing to improve their performance, while other sectors are lagging behind, with a few notable exceptions.”

For ten years, CDP, an independent not-for-profit organisation, has been working on behalf of a growing number of investors, seeking information from the world’s largest companies on their climate change and water management strategies, greenhouse gas emissions and water use. This year’s climate change information request was sent to almost 6,000 of the world’s leading corporations on behalf of over 551 institutional investors with over U$71 trillion in assets under management, including 45 signatory investors in Australia & NZ.

“Collaboration amongst investors and companies is key to mobilising a shift towards a more sustainable economy. Catholic Super will continue to support CDP’s development through collaboration with groups such as the Investor Group on Climate Change and encourages companies to continue developing their carbon management practices”, said Frank Pegan, CEO of Catholic Super, a sponsor of the report.

A key feature of this year’s Australia & NZ report – which is sponsored by Catholic Super and Westpac/BT Financial Group – is increased transparency and comparability of climate change information for investors and other stakeholders. For the first time in Australia & NZ, emissions information from all ASX200 and NZX50 responding companies has been published in the report. Carbon disclosure scores – which assess the quality of climate change disclosures by companies to investors – have been published for all Australian & NZ listed companies that achieved a disclosure score above 50. All carbon performance scores have also been published – these scores provide an indication of the extent to which companies are addressing the potential opportunities and risks presented by climate change.

“BT Financial Group is committed to promoting business best practice and strategies that contribute to the sustainability of our future generations,” said David Lees , BT Financial Group’s General Manager of Super and Investments. “As the wealth management arm of the Westpac Group, we recognise the importance of incorporating environmental, social and governance issues in our investment analysis and decision making. We are proud to support the CDP as an important tool for Australian and New Zealand businesses to manage their carbon performance through best practice reporting and disclosure.”

Top scoring ASX & NZX companies recognized on both the Carbon Disclosure Leadership Index and the Carbon Performance Leadership Index

Paul Dickinson, the co-founder and Executive Chairman of the Carbon Disclosure Project, will launch the CDP Australia & New Zealand report this morning at Carbon Expo Australasia in Melbourne. Mr Dickinson said, “CDP’s global climate change reporting and benchmarking system shows that Australia has some top-performing companies on climate change, most of which are in the banking and property sectors. The majority of Australian and NZ companies though, especially in the most emissions intensive sectors of materials & mining, utilities, energy and industrials are trailing their international counterparts in terms of setting and achieving emission reduction targets.

He continued, saying “Only 29% of reporting utilities, 36% of Energy sector respondents, 39% of Industrials and 48% of Materials sector respondents from the ASX200 and NZX50 reported having any carbon emission reduction targets. This is concerning, as it indicates that many companies with substantial emissions are still not setting emission reduction targets, and is also indicative of a lack of preparedness to respond to carbon pricing and economy wide emission reduction targets”.

Mr Dickinson concluded by saying: “Extreme weather events such as flooding in Queensland and Victoria earlier this year seems to be resulting in more companies linking extreme weather events and future physical risks in their risk reporting. More companies were better able to quantify the financial impacts of extreme weather events on their business this year, and this also seems to be leading an increasing number of companies to prepare more detailed plans for mitigating the impact of future events.”

About CDP

The Carbon Disclosure Project (CDP) is an independent not-for-profit organisation providing a transformative global system for companies and cities to measure, disclose, manage and share climate change and water information. Over 3,000 organisations across the world’s largest economies now report their greenhouse gas emissions and assessment of climate change risk and opportunity through CDP, in order that they can set reduction targets and make performance improvements. This data is gathered on behalf of 551 institutional investors, holding US$71 trillion in assets. CDP now holds the largest collection globally of self-reported climate change data. For more information visit www.cdproject.net

About IGCC – CDP Australia & NZ Investor Relations Partner

The IGCC represents institutional investors, with total funds under management of approximately $700 billion, and others in the investment community interested in the impact of climate change on investments.

The IGCC aims to encourage government policies and investment practices that address the risks and opportunities of climate change, for the ultimate benefit of superannuants and unit holders. For more information visit www.igcc.org.au

About Deloitte Australia – CDP Australia & NZ Report Partner

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity.

In Australia, the member firm is the Australian partnership of Deloitte Touche Tohmatsu. As one of Australia’s leading professional services firms, Deloitte Touche Tohmatsu and its affiliates provide audit, tax, consulting, and financial advisory services through approximately 5,700 people across the country. Focused on the creation of value and growth, and known as an employer of choice for innovative human resources programs, we are dedicated to helping our clients and our people excel. For more information, please visit Deloitte’s web site at www.deloitte.com.au.

Deloitte’s role as the 2011 Australian & New Zealand CDP Report Partner underscores our leading role in providing a broad range of carbon advisory, reporting and assurance services to clients.

For more information, please contact:

Christine Law (Ogilvy PR)
T: +61(0)2 8281 3256 / M: +61 (0)414 810 894
E: christine@howorth.com.au

James Day (CDP)
CDP Director – Australia & New Zealand
T: +61 (0)2 8213 2452 / M: +61 (0)434 194 705
E: james.day@cdproject.net