Business News
Dow Named Best in Class in Carbon Disclosure Leadership Index
Wednesday 15. October 2008 - Reinforcing The Dow Chemical Companys commitment to setting the standard for sustainability, the Carbon Disclosure Project (CDP) has named Dow to the Carbon Disclosure Leadership Index for the fifth consecutive year.
The index highlights global companies that have displayed the most professional approach to corporate governance in respect to climate change disclosure practices. Dow is one of only 33 companies from a carbon intensive sector to receive this distinction for 2008.
“We are thrilled to be honored by the CDP again,” said Rich Wells, Dows vice president of energy. “Dow has made huge gains in energy efficiency and as a result, has significantly lowered our own greenhouse gas emissions. We will continue to improve our carbon footprint by investing in process improvements for our plants, diversifying into alternative and renewable energy sources and developing less carbon intensive raw materials.”
CDP surveys more than 1,500 global companies and recognizes those like Dow who have established ambitious carbon-target programs and implemented mechanisms for climate change governance.
Carbon disclosure and climate change reporting are becoming critical for investors. Good disclosure practices allow investors to fully assess their risks, liabilities, and opportunities within their portfolios. Investors are using the information gathered by organizations like the CDP to inform their analysis of the credit worthiness of a company.
“Good corporate governance in respect of climate change disclosure will inevitably reap its rewards. As carbon regulation increases, those companies that have implemented climate change related strategies are clearly going to be in a far better position to meet the challenge of higher carbon prices than companies that have procrastinated” said Paul Dickinson, chief executive of the Carbon Disclosure Project. “Good disclosure practices are synonymous with good management.”