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Launched in 2000, the United Nations Global Compact is both a policy platform and a practical framework for companies that are committed to sustainability and responsible business practices. As a multi-stakeholder leadership initiative, it seeks to align business operations and strategies with ten universally accepted principles in the areas of human rights, labour, environment and anti-corruption. With more than 7,000 corporate signatories in over 140 countries, it is the worlds largest voluntary corporate responsibility initiative.
Carbon Disclosure Project Recommended as Framework for Compliance with Caring for Climate Reporting Requirements
(3BL Media) New York, NY - May 3, 2012 - Caring for Climate, a joint initiative between the United Nations Global Compact and the United Nations Environment Programme, has recommended the Carbon Disclosure Project (CDP) as a reporting framework for its signatory companies in reporting guidance issued last week. Endorsed by nearly 400 companies across 65 countries, Caring for Climate signatories commit to making an annual communication on their progress in fighting climate change.
The reporting guidance outlines disclosure-related responsibilities for signatory companies, including the use of existing reporting frameworks to meet the annual reporting requirements of the initiative. Companies that are publicly disclosing their climate change strategies and carbon emissions through CDP automatically meet the Caring for Climate reporting requirements and need only refer to their most recent CDP response to be in full compliance.
The new UN guidance document states: “A completed CDP questionnaire made public with an active link/attachment of the questionnaire posted on the Caring for Climate website fully meets the requirements of the COP-Climate.” Detailed clarification on how the CDP system meets each of the Caring for Climate commitments can be found at http://unglobalcompact.org/docs/issues_doc/Environment/climate/CDP_Mapping_Guidance.pdf.
Georg Kell, Executive Director of the UN Global Compact, says: “CDP currently stands as a rigorous tool in reporting GHG emissions and climate change strategies on an annual basis. We therefore encourage signatories of Caring for Climate to utilize the CDP system as a way to manage their climate change progress and meet our own reporting standards.”
Paul Simpson, CDP’s chief executive officer, says: “We fully support the Caring for Climate initiative and are pleased to work in partnership with the UN Global Compact and UNEP to ensure companies that are signatory supporters of the initiative are able to submit high quality climate change information and details of their Caring for Climate progress in a streamlined manner through CDP’s transformative system.”
The Carbon Disclosure Project (CDP) is an independent not-for-profit organization providing a transformative global system for companies and cities to measure, disclose, manage, and share climate change and water information. Over 3,700 companies across the world’s largest economies now measure and disclose 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 655 institutional investors, holding US$78 trillion in assets. CDP now holds the largest collection globally of self-reported climate change data.
About Caring for Climate
Launched by the UN Secretary-General Ban Ki-moon in 2007, “Caring for Climate” is the UN Global Compact and UN Environment Programme’s initiative aimed at advancing the role of business in addressing climate change. It provides a framework for business leaders to advance practical solutions and help shape public policy as well as public attitudes. Chief executive officers who support the statement are prepared to set goals, develop and expand strategies and practices, and to publicly disclose emissions as part of their existing disclosure commitment within the UN Global Compact framework, that is, the Communication on Progress - Climate. Caring for Climate is endorsed by nearly 400 companies from 65 countries.