Skip to content
Search
AI Powered
Latest Stories

Just 14 firms win triple-A climate rating from top NGO

Just 14 firms win triple-A climate rating from top NGO
Representative iStock image
Getty Images/iStockphoto

Only 14 companies are making top-grade efforts on the climate, the organisation that scores environmental efforts by companies for investors said Tuesday.

The NGO Carbon Disclosure Project (CDP) said only 14 out of nearly 12,000 firms that it scores received A marks in all the three areas of climate change, forests and water security in 2021.


Among those were consumer goods firm Unilever, food group Danone, cosmetics maker L'Oreal and tobacco giant Philip Morris International.

A total of 272 companies out of nearly 12,000 firms with £9 trillion in market capitalisation - or just 2 percent - received at least one A rating.

The CDP ranks firms after sending them a questionaire, and the results are used by asset managers seeking to make their portolios more green.

A majority of the ranked firms received scores between C and D-, which means they are only beginning to recognise their enviromental impact.

"It is also concerning that 16,870 companies worth $21 trillion in market cap - including Chevron, Exxon Mobil, Glencore and Berkshire Hathaway - failed to respond to the request for information from their investors and clients, or provide sufficient information in their response," said CDP.

Dexter Galvin, global director of corporations and supply chains at CDP, said that "these companies are not only putting the planet at risk, but themselves".

"If they continue with business as usual, they will end up on the wrong side of public opinion, regulation and investor sentiment."

Philip Morris International, which won the top rating for the second year in a row, said ‘external validation’ from organizations like CDP encourages them in their journey to create a net-positive impact on society.

“We are humbled PMI has received CDP’s ‘Triple A’ distinction for a second time,” said Jennifer Motles, chief sustainability officer. “As we continue to transform our business, clear and transparent disclosure of our progress remains paramount. This helps us get ahead of regulatory and policy changes, identify and tackle growing risks, and find new opportunities for action that our investors, consumers and other key stakeholders worldwide are demanding.”

More for you

Volumatic welcomes new FCA rules safeguarding access to cash

Volumatic welcomes new FCA rules safeguarding access to cash

As industry leaders is cash handling, Volumatic has long supported the use of cash and the importance of maintaining access to cash for both consumers and businesses. The company recognises the importance of the new set of rules created by the Financial Conduct Authority (FCA) two months ago, to safeguard access to cash for businesses and consumers across the UK.

Since introduction, the new rules are intended to ensure that individuals and businesses who rely on cash can continue to access it and the outcome has already sparked the creation of 15 new banking hubs across the UK, including one in Scotland, with many more to follow.

Keep ReadingShow less
Jisp unveils new NPD service

Jisp unveils new NPD service

Retail technology company Jisp has launched an NPD service as part of its new Direct to Retailer business unit.

The new NPD service will allow brands to launch or trial new products in a guaranteed number of convenience store locations, with on the ground review of execution by Jisp’s retail growth manager team, and performance data and insights deliverable through its scanning technology and back-office systems.

Keep ReadingShow less
Tesco launches price cuts in Express convenience stores
File image of Tesco Express

Tesco launches price cuts in Express convenience stores

Tesco is slashing the price of more than 222 own-brand and branded products in its Express convenience stores.

Essentials including milk, bread, pasta and coffee are included in the lines which have been reduced in price by an average of more than 10 per cent at Tesco Express stores. The retail giant has made more than 2,800 price cuts across stores in recent months. With 2,048 of convenience stores at the end of the 2023-24 financial year, Tesco aims to benefit hundreds of thousands of customers from the cheaper deals.

Keep ReadingShow less
vape and cigarette
Photo: iStock

One in five ex-smokers in England now vape, study finds


Summary
1. One in five people who have successfully quit smoking in England currently vape, with an estimated 2.2 million individuals using e-cigarettes as a smoking cessation tool.
2. The increase in vaping among ex-smokers is largely driven by the use of e-cigarettes in quit attempts, with a rise in vaping uptake among people who had previously quit smoking for many years before taking up vaping.
3. While vaping may be a less harmful option compared to smoking, there are concerns about the potential long-term implications of vaping on relapse risk and nicotine addiction. Further research is needed to assess the impact of vaping on smoking cessation outcomes.


Keep ReadingShow less
Bira engages with Treasury on Budget fallout, business rate reform
(Photo by Christopher Furlong/Getty Images)
Getty Images

Bira engages with Treasury on Budget fallout, business rate reform

Independent retailers association Bira has held a meeting with members of the Treasury team to discuss concerns following its robust response to the Government’s recent Budget announcement.

The Budget, labelled by Bira as "devastating" for independent retailers, was met with widespread indignation from Bira members.

Keep ReadingShow less