Interview with Stephen Donofrio Director CDP Canada

Enbridge recently had a chance to interview Stephen Donofrio, Director, Canada, for the Carbon Disclosure Project (CDP) about the global climate change reporting initiative.

What is the current status of the CDP?

Each year investors ask companies to disclose vital information on their environmental impacts and strategies through the CDP. This year the request for corporate climate change information comes from 722 investors representing US$87 trillion in assets – that’s more than half the world’s invested capital, which demonstrates the business imperative for those approached to respond. 

What is the purpose of the CDP’s spring 2013 workshop in Toronto?  And why was Enbridge invited to participate in the panel discussion?

Our annual practical workshops held in the spring bring those responsible for completing CDP questionnaires together to network with their peers and share best practices in creating a meaningful response.  Since Enbridge achieved a high disclosure score of 84 last year and was a member of the 2012 CDP Canada Climate Disclosure Leadership Index (CDLI), we invited Enbridge to speak at this year’s workshop to share expertise.

What does a position in the CDLI index signify about Enbridge’s reporting practices?

It means that Enbridge was in the top 10 percent of disclosure scores awarded to companies from the Canada 200 index.  A high disclosure score indicates good internal data management, climate transparency and understanding of climate change-related issues affecting the company.

How is the CDP growing in importance?

In the 10 years that CDP has been collecting climate data, the number of investors who have requested information from companies has grown more than 20 fold.  What’s more, we originally focused on the largest 500 companies globally.  Disclosure rates among the Global 500 now run at 81 percent and we are asked to approach the largest companies in almost every major economic market around the world.  Further, we have evolved in that time and have responded to market needs so that our successful disclosure system is used for multinationals to manage their supply chains sustainably, for cities to share best practice and climate change strategies, and for corporations and their investors to assess and report their water and forest commodities-related risks and opportunities.

CDP analysis suggests that companies that lead on climate performance and disclosure generate superior stock performance, providing double the total financial return compared to the Global 500 benchmark.  Such analysis goes some way in demonstrating the value that investors can gain from CDP data and may be a factor in why CDP data points are downloaded an average of 1 million times every six weeks by investors via Bloomberg terminals.

What do you think?

We welcome your thoughts about our 2013 CSR Report and our CSR activities.

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