31 Indian companies make it to the global Climate Disclosure Leadership Index
As many as 31 Indian companies have made it to a global list for disclosing climate change related information to their investors, including four corporates – ITC, Tata Steel, Tech Mahindra and Wipro – which have attained a perfect score of 100. According to the annual Climate Change Report by global NGO CDP, the number of qualifying Indian companies in this year’s Climate Disclosure Leadership Index has increased to 31 from 23 last year, registering a jump of 35 per cent.
“The constant improvement in the ranking of Indian companies in disclosing vital climate change information to the world offers good momentum, especially coming at a time when countries are gearing up for a global agreement at the upcoming Paris climate meetings,” CDP India Director Damandeep Singh said. Meanwhile, no Indian company got featured in the global 2015 Climate A List, which comprises companies identified as ‘A grade’ for their actions to mitigate climate change.
“However, despite this encouraging uptrend, there were fewer companies in the top performance bands. This could be due to technical issues which we hope to address with the companies in the coming years,” the report said. Nearly 2,000 companies submitted information to be independently assessed against CDP’s scoring methodology. A total of 113 have made it to the list which features global brands such as Apple, Microsoft and Google, the report said.
Four Indian corporates – ITC, Tata Steel, Tech Mahindra and Wipro – have attained a perfect 100 CDP disclosure score and topped the Climate Disclosure Leadership Index (CDLI). The report further said TCS and Dr Reddy’s Laboratories are among companies investing significantly in long term strategic initiatives.
Moreover, organisations like Ambuja Cement, Tata Power and Wipro are increasingly deploying renewable energy. Tata Power has invested USD 37 million (Rs 240 crore) in solar power installations while TCS spent USD 5.47 million (Rs 35.97 crore) in incorporating green building concepts. Among others, IndusInd Bank, Infosys Limited, Tata Chemicals, TCS and Tata Global Beverages had a disclosure score of 99.
Each year, companies that participate in CDP’s climate change program are scored against two parallel assessment schemes: performance and disclosure. The performance score assesses the level of action as reported by the company on climate change mitigation, adaptation and transparency, while the disclosure score assesses the completeness and quality of a company’s response.
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