PricewaterhouseCoopers Global (PwC) has
been appointed adviser and report writer for the world’s largest
investor collaboration on climate change. The Carbon Disclosure
Project (CDP) is a not-for-profit collaboration of 385
institutional investors with assets under management of $57
trillion.

Each year CDP sends out a request to more than 3,000 companies
asking them to measure and disclose greenhouse gas emissions and
report on their strategy for dealing with risks and opportunities
associated with climate change.

PwC will analyse company responses to produce the CDP report on
the Global 500 companies together with reports on the Standard
& Poor’s 500 and the FTSE 350 companies.

The Big Four firm will also work with CDP as a strategic
adviser, offering support and expertise on areas such as carbon
emissions, climate risk reporting, carbon accounting systems and
data verification.

On the agenda

Tom Craren, the PwC US thought leadership and brand leader, said
growing awareness of climate change is creating opportunities to
develop strategic programmes that increase shareholder value, while
also driving down carbon emissions.

“Climate change has become an important strategic issue in
boardrooms around the world. Carbon emissions increasingly impact
the value, risk and long-term growth potential for businesses in
virtually every industry,” Craren explained. “Our work with the CDP
will help to shape the future of management strategies and
reporting in an increasingly carbon constrained environment.”

Paul Dickinson, the chief executive of CDP, said: “This is an
important step for CDP. The expertise PricewaterhouseCoopers has in
evaluating carbon risk and opportunity will be invaluable in
providing new insight and analysis through CDP reports. Their
expertise will also help in driving forward the CDP’s goals to work
with companies globally to measure, disclose and reduce corporate
greenhouse gas emissions.”

Investors involved in the CDP include Merrill Lynch, Goldman
Sachs, Allianz, ANZ, Banco do Brazil, Mitsubishi, AIG Investments,
the RBS Group and HSBC.