CDP South Africa JSE 100 Report 2011 Partnering for a low carbon future
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CARBON DISCLOSURE PROJECT
CDP South Africa JSE 100 Report
2011
Partnering for a low carbon future
On behalf of 551 investors with assets of US$ 71 trillion
Lead Partner Report written by Carbon Disclosure Project
National Business Initiative Incite Sustainability info@cdproject.net
+44 (0) 20 7970 5660
www.cdproject.net
Carbon Disclosure Project 2011
2011 Carbon Disclosure Project
Investor Members
CDP works with investors globally to advance the investment opportunities and reduce the risks posed by climate change
by asking almost 6,000 of the world’s largest companies to report on their climate strategies, GHG emissions and energy
use in the standardized Investor CDP format. To learn more about CDP’s member offering and becoming a member, please
contact us or visit the CDP Investor Member section at www.cdproject.net/investormembers
ABRAPP - Associação Catholic Super PFA Pension
Brasileira das Entidades CCLA Investment Raiffeisen Schweiz
Fechadas de Previdência Management Ltd Royal Bank of Scotland
Complementar Ethos Foundation Group
AEGON N.V. Generation Investment Robeco
AKBANK T.A.S. Management Rockefeller & Co., Inc.
Allianz Global Investors HSBC Holdings plc SAM Group
Kapitalanlagegesellschaft ING
mbH Schroders
KB Kookmin Bank Scottish Widows
ATP Group
KLP Investment Partnership
Aviva Investors
Legg Mason, Inc. SEB
Bank of America Merrill
Lynch London Pensions Fund Sompo Japan
Authority Insurance Inc.
BlackRock
Mitsubishi UFJ Financial Standard Chartered
BP Investment Group (MUFG)
Management Limited Sun Life Financial Inc.
Morgan Stanley TD Asset Management
California Public
Employees’ Retirement National Australia Bank Inc. and TDAM USA Inc.
System NEI Investments The Wellcome Trust
California State Teachers’ Neuberger Berman Zurich Cantonal Bank
Retirement System Newton Investment
Calvert Asset Management Limited
Management Company, Nordea Investment
Inc. Management
Cover photo:
The simple home of Jean-Pierre and Tracey du Plessis set in a
valley 26 kilometres outside Clanwilliam in the Western Cape,
depicts the changing consumption and eco-living that society
needs to embrace towards more sustainable living. A question
for businesses and governments is how they can drive and
support this lifestyle change. The design of the house includes
passive air-conditioning, passive heating and cooling, a
grey-water system that’s used to irrigate the family vegetable
patch, solar water heating and gas cooking. The family is
also planning to install alternative energy sources such as
wind turbines and solar systems, and have started designing
a large-scale recycling project to cater for all the homes in the
valley, which currently burn all their own refuse.CDP Signatories 2010
2011 Carbon Disclosure Project
Investor Signatories
Carbon Disclosure Project 2011 Baumann and Partners S.A.
BAWAG P.S.K. INVEST GmbH
Daiwa Securities Group Inc.
de Pury Pictet Turrettini & Cie S.A.
Bayern LB
551 financial institutions with assets of BayernInvest Kapitalanlagegesellschaft mbH
DekaBank Deutsche Girozentrale
Deutsche Asset Management Investmentgesellschaft mbH
US$71 trillion were signatories to the BBC Pension Trust Ltd
Deutsche Bank AG
BBVA
CDP 2011 information request dated Bedfordshire Pension Fund
Deutsche Postbank Vermögensmanagement S.A.
February 1st, 2011. Bentall Kennedy
Development Bank of Japan Inc.
Development Bank of the Philippines (DBP)
Beutel Goodman and Co. Ltd
Dexia Asset Management
Aberdeen Asset Managers BioFinance Administração de Recursos de Terceiros Ltda
Dexus Property Group
Aberdeen Immobilien KAG mbH BlackRock
DnB NOR ASA
ABRAPP - Associação Brasileira das Entidades Fechadas de Blumenthal Foundation
Previdência Complementar Domini Social Investments LLC
BNP Paribas Investment Partners
Active Earth Investment Management Dongbu Insurance
BNY Mellon
Acuity Investment Management DWS Investment GmbH
BNY Mellon Service Kapitalanlage Gesellschaft
Addenda Capital Inc. Earth Capital Partners LLP
Boston Common Asset Management, LLC
Advanced Investment Partners East Sussex Pension Fund
BP Investment Management Limited
Advantage Asset Managers (Pty) Ltd Ecclesiastical Investment Management
Brasilprev Seguros e Previdência S/A.
AEGON Magyarország Befektetési Alapkezelo Zrt. Ecofi Investissements - Groupe Credit Cooperatif
British Columbia Investment Management Corporation (bcIMC)
AEGON N.V. Edward W. Hazen Foundation
BT Investment Management
AEGON-INDUSTRIAL Fund Management Co., Ltd EEA Group Ltd
Busan Bank
AFP Integra Elan Capital Partners
CAAT Pension Plan
AIG Asset Management Element Investment Managers
Cadiz Holdings Limited
Ak Asset Management ELETRA - Fundação Celg de Seguros e Previdência
Caisse de dépôt et placement du Québec
AKBANK T.A.S. Environment Agency Active Pension fund
Caisse des Dépôts
Alberta Investment Management Corporation (AIMCo) Epworth Investment Management
Caixa Beneficente dos Empregados da Companhia Siderurgica
Alberta Teachers Retirement Fund Nacional - CBS Equilibrium Capital Group
Alcyone Finance Caixa de Previdência dos Funcionários do Banco do Nordeste do Erste Asset Management
Brasil (CAPEF)
Allianz Elementar Versicherungs-AG Erste Group Bank
Caixa Econômica Federal
Allianz Group Essex Investment Management Company, LLC
Caixa Geral de Depositos
Altira Group ESSSuper
Caja de Ahorros de Valencia, Castellón y Valencia, BANCAJA
Amalgamated Bank Ethos Foundation
Caja Navarra
AMP Capital Investors Eureko B.V.
California Public Employees’ Retirement System
AmpegaGerling Investment GmbH Eurizon Capital SGR
California State Teachers’ Retirement System
Amundi AM Evangelical Lutheran Church in Canada Pension Plan for Clergy
California State Treasurer and Lay Workers
ANBIMA – Associação Brasileira das Entidades dos Mercados
Financeiro e de Capitais Calvert Asset Management Company, Inc Evli Bank Plc
Antera Gestão de Recursos S.A. Canada Pension Plan Investment Board F&C Management Ltd
APG Group Canadian Friends Service Committee (Quakers) FAELCE – Fundacao Coelce de Seguridade Social
Aprionis Canadian Imperial Bank of Commerce (CIBC) FAPERS- Fundação Assistencial e Previdenciária da Extensão
Rural do Rio Grande do Sul
Aquila Capital CAPESESP
FASERN - Fundação COSERN de Previdência Complementar
ARIA (Australian Reward Investment Alliance) Capital Innovations, LLC
Fédéris Gestion d’Actifs
Arisaig Partners Asia Pte Ltd CARE Super Pty Ltd
FIDURA Capital Consult GmbH
ARK Investment Advisors Inc. Carlson Investment Management
FIM Asset Management Ltd
Arma Portföy Yönetimi A.S. Carmignac Gestion
FIPECq - Fundação de Previdência Complementar dos
ASB Community Trust Catherine Donnelly Foundation Empregados e Servidores da FINEP, do IPEA, do CNPq
ASM Administradora de Recursos S.A. Catholic Super FIRA. - Banco de Mexico
ASN Bank Cbus Superannuation Fund First Affirmative Financial Network, LLC
Assicurazioni Generali Spa CCLA Investment Management Ltd First Swedish National Pension Fund (AP1)
ATP Group Celeste Funds Management Limited Firstrand Limited
Australia and New Zealand Banking Group Limited Central Finance Board of the Methodist Church Five Oceans Asset Management Pty Limited
Australian Central Credit Union incorporating Savings & Loans Ceres Florida State Board of Administration (SBA)
Credit Union Christian Super Folketrygdfondet
Australian Ethical Investment Limited Christopher Reynolds Foundation Folksam
AustralianSuper Church Commissioners for England Fondaction CSN
Aviva Church of England Pensions Board Fondation de Luxembourg
Aviva Investors CI Mutual Funds’ Signature Global Advisors Fondiaria-SAI
AXA Group Clean Yield Group, Inc. Fonds de Réserve pour les Retraites – FRR
Baillie Gifford & Co. Cleantech Invest AG Fourth Swedish National Pension Fund (AP4)
Bakers Investment Group (Australia) Pty Ltd ClearBridge Advisors FRANKFURT-TRUST Investment-Gesellschaft mbH
Banco Bradesco S/A Climate Change Capital Group Ltd Fukoku Capital Management Inc
Banco de Credito del Peru BCP CM-CIC Asset Management FUNCEF - Fundação dos Economiários Federais
Banco de Galicia y Buenos Aires S.A. Colonial First State Global Asset Management Fundação AMPLA de Seguridade Social - Brasiletros
Banco do Brasil S/A Comerica Incorporated Fundação Atlântico de Seguridade Social
Banco Nacional de Desenvolvimento Econômico e Social - Comite syndical national de retraite Bâtirente
BNDES Fundação Attilio Francisco Xavier Fontana
Commerzbank AG Fundação Banrisul de Seguridade Social
Banco Santander
CommInsure Fundação de Assistência e Previdência Social do BNDES - FAPES
Banesprev – Fundo Banespa de Seguridade Social
Commonwealth Bank of Australia FUNDAÇÃO ELETROBRÁS DE SEGURIDADE SOCIAL - ELETROS
Banesto (Banco Español de Crédito S.A.)
Compton Foundation, Inc. Fundação Forluminas de Seguridade Social - FORLUZ
Bank of America Merrill Lynch
Concordia Versicherungsgruppe FUNDAÇÃO ITAUBANCO
Bank of Montreal
Connecticut Retirement Plans and Trust Funds Fundação Itaúsa Industrial
Bank Sarasin & Cie AG
Co-operative Financial Services (CFS) Fundação Promon de Previdência Social
Bank Vontobel
Corston-Smith Asset Management Sdn. Bhd. Fundação Vale do Rio Doce de Seguridade Social - VALIA
Bankhaus Schelhammer & Schattera Kapitalanlagegesellschaft
m.b.H. CRD Analytics Fundação Rede Ferroviaria de Seguridade Social – Refer
BANKINTER S.A. Crédit Agricole Fundação Sistel de Seguridade Social (Sistel)
BankInvest Credit Suisse FUNDIÁGUA - FUNDAÇÃO DE PREVIDENCIA COMPLEMENTAR
Banque Degroof Gruppo Credito Valtellinese DA CAESB
Barclays Daegu Bank Futuregrowth Asset Management
1Carbon Disclosure Project 2011
Gartmore Investment Management Ltd La Financiere Responsable NORD/LB Kapitalanlagegesellschaft AG
GEAP Fundação de Seguridade Social Lampe Asset Management GmbH Nordea Investment Management
Generali Deutschland Holding AG Landsorganisationen i Sverige Norfolk Pension Fund
Generation Investment Management LBBW - Landesbank Baden-Württemberg Norges Bank Investment Management (NBIM)
Genus Capital Management LBBW Asset Management Investmentgesellschaft mbH North Carolina Retirement System
Gjensidige Forsikring ASA LD Lønmodtagernes Dyrtidsfond Northern Ireland Local Government Officers’ Superannuation
Committee (NILGOSC)
GLS Gemeinschaftsbank eG Legal & General Investment Management
Northern Trust
Goldman Sachs Group Inc. Legg Mason, Inc.
Nykredit
GOOD GROWTH INSTITUT für globale Vermögensentwicklung LGT Capital Management Ltd.
mbH Oddo & Cie
LIG Insurance Co., Ltd
Governance for Owners OECO Capital Lebensversicherung AG
Light Green Advisors, LLC
Government Employees Pension Fund (“GEPF”), Republic of Old Mutual plc
South Africa Living Planet Fund Management Company S.A.
OMERS Administration Corporation
Green Cay Asset Management Local Authority Pension Fund Forum
Ontario Teachers’ Pension Plan
Green Century Capital Management Local Government Super
OP Fund Management Company Ltd
Groupe Crédit Coopératif Local Super
Oppenheim Fonds Trust GmbH
Groupe Investissement Responsable Inc. Lombard Odier Darier Hentsch & Cie
Opplysningsvesenets fond (The Norwegian Church Endowment)
GROUPE OFI AM London Pensions Fund Authority
OPSEU Pension Trust
Grupo Banco Popular Lothian Pension Fund
Oregon State Treasurer
Grupo Santander Brasil Lupus alpha Asset Management GmbH
Orion Asset Management LLC
Gruppo Credito Valtellinese Macif Gestion
Parnassus Investments
Gruppo Montepaschi Macquarie Group Limited
Pax World Funds
Guardian Ethical Management Inc MAMA Sustainable Incubation AG
Pensioenfonds Vervoer
Guardians of New Zealand Superannuation Man
Pension Denmark
Guosen Securities Co., LTD. Maple-Brown Abbott Limited
Pension Fund for Danish Lawyers and Economists
Hang Seng Bank Marc J. Lane Investment Management, Inc.
Pension Protection Fund
Harbourmaster Capital Maryland State Treasurer
Pensionsmyndigheten
Harrington Investments, Inc Matrix Asset Management
PETROS - The Fundação Petrobras de Seguridade Social
Hauck & Aufhäuser Asset Management GmbH McLean Budden
PFA Pension
Hazel Capital LLP MEAG MUNICH ERGO Asset Management GmbH
PGGM
HDFC Bank Ltd Meeschaert Gestion Privée
Phillips, Hager & North Investment Management Ltd.
Health Super Fund Meiji Yasuda Life Insurance Company
PhiTrust Active Investors
Healthcare of Ontario Pension Plan (HOOPP) Mendesprev Sociedade Previdenciária
Phoenix Asset Management Inc.
Henderson Global Investors Merck Family Fund
Pictet Asset Management SA
Hermes Fund Managers Meritas Mutual Funds
PKA
HESTA Super MetallRente GmbH
Pluris Sustainable Investments SA
HSBC Global Asset Management (Deutschland) GmbH Metrus – Instituto de Seguridade Social
PNC Financial Services Group, Inc.
HSBC Holdings plc Metzler Investment Gmbh
Pohjola Asset Management Ltd
HSBC INKA Internationale Kapitalanlagegesellschaft mbH MFS Investment Management
Portfolio 21 Investments
Hyundai Marine & Fire Insurance. Co., Ltd. Midas International Asset Management
Porto Seguro S.A.
Hyundai Securities Co., Ltd. Miller/Howard Investments
PREVHAB PREVIDÊNCIA COMPLEMENTAR
Ibgeana Society of Assistance and Security SIAS / Sociedade Mirae Asset Global Investments Co. Ltd.
Ibgeana de Assistência e Seguridade (SIAS) PREVI Caixa de Previdência dos Funcionários do Banco do Brasil
Mirae Asset Securities Co., Ltd.
IDBI Bank Ltd PREVIG Sociedade de Previdência Complementar
Missionary Oblates of Mary Immaculate
Ilmarinen Mutual Pension Insurance Company Provinzial Rheinland Holding
Mistra, Foundation for Strategic Environmental Research
Impax Group plc Prudential Investment Management
Mitsubishi UFJ Financial Group (MUFG)
IndusInd Bank Limited Psagot Investment House Ltd
Mizuho Financial Group, Inc.
Industrial Bank (A) PSP Investments
Mn Services
Industrial Bank of Korea PSS - Seguridade Social
Monega Kapitalanlagegesellschaft mbH
Industry Funds Management Q Capital Partners Co. Ltd
Morgan Stanley
Infrastructure Development Finance Company QBE Insurance Group
Motor Trades Association of Australia Superannuation Fund Pty
ING Ltd Rabobank
Insight Investment Management (Global) Ltd Mutual Insurance Company Pension-Fennia Raiffeisen Schweiz
Instituto de Seguridade Social dos Correios e Telégrafos- Postalis Natcan Investment Management Railpen Investments
Instituto Infraero de Seguridade Social - INFRAPREV Nathan Cummings Foundation, The Rathbones / Rathbone Greenbank Investments
Instituto Sebrae De Seguridade Social - SEBRAEPREV National Australia Bank Real Grandeza Fundação de Previdência e Assistência Social
Insurance Australia Group National Bank of Canada Rei Super
Investec Asset Management National Grid Electricity Group of the Electricity Supply Pension Reliance Capital Ltd
Scheme
Irish Life Investment Managers Resolution
National Grid UK Pension Scheme
Itau Asset Management Resona Bank, Limited
National Pensions Reserve Fund of Ireland
Itaú Unibanco Holding S A Reynders McVeigh Capital Management
National Union of Public and General Employees (NUPGE)
Janus Capital Group Inc. RLAM
NATIXIS
Jarislowsky Fraser Limited Robeco
Nedbank Limited
JPMorgan Chase & Co. Rockefeller Financial
Needmor Fund
Jubitz Family Foundation Rose Foundation for Communities and the Environment
NEI Investments
Jupiter Asset Management Royal Bank of Canada
Nelson Capital Management, LLC
Kaiser Ritter Partner (Schweiz) AG Royal Bank of Scotland Group
Nest Sammelstiftung
KB asset Management RREEF Investment GmbH
Neuberger Berman
KB Kookmin Bank SAM Group
New Amsterdam Partners LLC
KBC Asset Management NV SAMPENSION KP LIVSFORSIKRING A/S
New Mexico State Treasurer
KDB Asset Management Co., Ltd. SAMSUNG FIRE & MARINE INSURANCE
New York City Employees Retirement System
KEPLER-FONDS Kapitalanlagegesellschaft m. b. H. Samsung Securities
New York City Teachers Retirement System
KfW Bankengruppe Sanlam
New York State Common Retirement Fund (NYSCRF)
KlimaINVEST Santa Fé Portfolios Ltda
New Zealand Earthquake Commission
KLP SAS Trustee Corporation
Newton Investment Management Limited
Korea Investment Management Co., Ltd. Sauren Finanzdienstleistungen GmbH & Co. KG
NGS Super
The Korea Teachers Pension (KTP) Schroders
NH-CA Asset Management
Korea Technology Finance Corporation (KOTEC) Scotiabank
Nikko Asset Management Co., Ltd.
KPA Pension Scottish Widows Investment Partnership
Nikko Cordial Securities
La Banque Postale Asset Management SEB
Nissay Asset Management Corporation
2CDP Signatories
SEB Asset Management AG Tokio Marine & Nichido Fire Insurance Co., Ltd. Figure 1: 2011 Signatory Investor
2011 Signatory investor breakdown
Second Swedish National Pension Fund (AP2) Toronto Atmospheric Fund Breakdown
SEIU Master Trust Trillium Asset Management Corporation
Seligson & Co Fund Management Plc Triodos Investment Management
Sentinel Investments Tryg
SERPROS - Fundo Multipatrocinado UBS 5%
Seventh Swedish National Pension Fund (AP7) UniCredit Group 23%
1% 37%
Shinhan Bank Union Asset Management Holding AG
Shinhan BNP Paribas Investment Trust Management Co., Ltd Unipension
Shinkin Asset Management Co., Ltd UNISON staff pension scheme
Siemens Kapitalanlagegesellschaft mbH UniSuper
Signet Capital Management Ltd Unitarian Universalist Association
SMBC Friend Securities Co., LTD United Methodist Church General Board of Pension and Health
Benefits
Smith Pierce, LLC
United Nations Foundation
SNS Asset Management
Universities Superannuation Scheme (USS)
Social(k)
Vancity Group of Companies
Sociedade de Previdencia Complementar da Dataprev - Prevdata
VCH Vermögensverwaltung AG
Solaris Investment Management Limited
Veris Wealth Partners
Sompo Japan Insurance Inc.
Veritas Investment Trust GmbH
Sopher Investment Management 34%
Vermont State Treasurer
SPF Beheer bv
Vexiom Capital, L.P.
Sprucegrove Investment Management Ltd
VicSuper Pty Ltd
Standard Chartered
Victorian Funds Management Corporation Asset Managers
Standard Chartered Korea Limited
Standard Life Investments
VietNam Holding Ltd. Asset Owners
Vision Super Banks
State Bank of India
VOLKSBANK INVESTMENTS
State Street Corporation Insurance
Waikato Community Trust Inc
StatewideSuper
Walden Asset Management, a division of Boston Trust & Other
StoreBrand ASA Investment Management Company
Strathclyde Pension Fund WARBURG - HENDERSON Kapitalanlagegesellschaft für
Stratus Group Immobilien mbH
Sumitomo Mitsui Banking Corporation WARBURG INVEST KAPITALANLAGEGESELLSCHAFT MBH
Sumitomo Mitsui Card Company, Limited Wells Fargo & Company
Sumitomo Mitsui Finance & Leasing Co., Ltd West Yorkshire Pension Fund
Sumitomo Mitsui Financial Group WestLB Mellon Asset Management (WMAM)
The Sumitomo Trust & Banking Co., Ltd. Westpac Banking Corporation
Sun Life Financial Inc. White Owl Capital AG
Superfund Asset Management GmbH Winslow Management, A Brown Advisory Investment Group
SUSI Partners AG Woori Bank
Sustainable Capital Woori Investment & Securities Co., Ltd.
Svenska Kyrkan, Church of Sweden YES BANK Limited
Swedbank AB York University Pension Fund
Swiss Re Youville Provident Fund Inc.
Swisscanto Holding AG Zegora Investment Management
Syntrus Achmea Asset Management Zevin Asset Management
T. Rowe Price Zurich Cantonal Bank
T. SINAI KALKINMA BANKASI A.S.
T.GARANTI BANKASI A.S.
Tata Capital Limited
TD Asset Management Inc. and TDAM USA Inc.
Teachers Insurance and Annuity Association – College Retirement
Equities Fund (TIAA-CREF)
Telluride Association
Tempis Asset Management Co. Ltd
Terra Forvaltning AS
TerraVerde Capital Management LLC
CDP Investor
Figure signatories
2: CDP Investor & assets&over
Signatories time
Assets over time
The Brainerd Foundation
The Bullitt Foundation 600 80
The Central Church Fund of Finland
The Collins Foundation 70
The Co-operative Asset Management 500
The Co-operators Group Ltd 60
The Daly Foundation
Number of Signatories
400
Assets (US$ trillions)
The GPT Group 50
The Hartford Financial Services Group, Inc.
The Japan Research Institute, Limited 300 40
The Joseph Rowntree Charitable Trust
The Local Government Pensions Institution 30
The Pension Plan For Employees of the Public Service Alliance 200
of Canada
The Pinch Group
20
The Presbyterian Church in Canada 100
The Russell Family Foundation
10
The Shiga Bank, Ltd.
The Standard Bank Group
0 0
The United Church of Canada - General Council 2003 2004 2005 2006 2007 2008 2009 2010 2011
The University of Edinburgh Endowment Fund
The Wellcome Trust Signatories Assets
Third Swedish National Pension Fund (AP3)
Threadneedle Asset Management
3Carbon Disclosure Project 2011
Minister’s foreword We also welcome the commitment
shown by South African businesses
We welcome the fifth Carbon that have seen the importance of
Disclosure Report that illuminates giving attention to their own impacts
business’ commitment to achieving on climate change as well assessing
disclosure of their carbon footprint their own exposure to risks and
and pro-actively working towards its opportunities to climate change and
reduction. understand the need to manage
reputational risk especially with regard
The various indicators of exponential to investors and consumers of their
improvement in not only the goods and services.
response rate, but the improving
quality and scope of data, rising It also reaffirms that South Africa is
levels of strategic importance given capable of playing a leading role on
to this process and the increasing the continent and among emerging
refinement in the identification of economies in contributing to and
risks and opportunities, are all signs benefitting from opportunities to
of the progressive significance that mitigate and adapt to climate change.
companies are attaching to the
impacts of climate change. It is also worth noting that as
companies reach greater levels of
Climate change is the foremost reporting, the Carbon Disclosure
threat to South Africa’s long term Project has had transformational
Government is committed sustainable development, economic value in improving efficiencies,
growth and quality of life. Government data gathering, shaping business
to implementing strategies alone cannot win this battle without opportunities and improved
towards cleaner technology the support and commitment of competitiveness.
business. Government is committed
and transition towards a low to implementing strategies towards Given that this is a journey within
carbon future. South Africa cleaner technology and transition a context of many competing
towards a low carbon future. socioeconomic challenges, there is
has gazetted the National no doubt that an 83% response rate
Climate Change Response South Africa has gazetted the National by leading South African companies
Climate Change Response Policy must be applauded. As they continue
Policy that embodies our that embodies our commitment to on their journey however, greater
commitment to addressing addressing climate change while focus and monitoring of improved
serving as our roadmap for effective performance is still required.
climate change while climate change response and
serving as our roadmap for transition to a climate resilient and The setting of targets and
low-carbon economy. implementation of actions to progress
effective climate change against these targets as well as
response and transition to The policy, inter alia, deals with jobs the further premium that needs to
and aims to limit job contraction be placed on measurement and
a climate resilient and low- to those areas of the economy verification, are areas in which
carbon economy. where excessive carbon intensity companies can apply greater effort to
is unsustainable, whilst promoting entrench their capability in leading the
and expanding the green economy way while at the same time sustaining
sectors. The policy also aims to their businesses.
promote investment in human
and productive resources that will The 2011 report also highlights
grow the green economy. To do that the next step of the journey
this, government will assess the is for more companies to move
vulnerability of the different economic beyond identification of risks to
sectors to climate change and risk mitigation and to prioritise
develop Sector Job Resilience Plans. strategies and implementation plans
4Partner and sponsor forewords
to seize opportunities that have been "As a significant contributor
identified.
to GHG emissions and
For companies who have not effective climate change
elevated their strategic focus and
intent sufficiently through allocation response actions, business
of company leadership responsibility and industry have a
and investment in the necessary
human resources and appropriate fundamental role in South
alignment of their internal structures Africa’s climate change
and capacity, responding to risk and
opportunities will prove more difficult. response. Government
Finally, the South African Carbon
will continue to forge
Disclosure Project Report remains and maintain effective
a significant barometer and driver
of change towards a low carbon
partnerships with business
economy and is accessed by a and industry to ensure that
host of institutions who can support
the transition to a low carbon
their capacity is harnessed
economy through technological in driving the transition
support, research and development,
enabling legislative environments and
to a climate-resilient,
investment opportunities. It is a stage equitable and internationally
that prepares us well for the carbon
market process.
competitive, lower-carbon
economy and society...
As South Africa hosts COP 17 and
CMP 7 in Durban this year, the Government will also
message is clear that business has an
important role in providing leadership
continue to encourage
and solutions as they increasingly feel voluntary reporting initiatives
the impacts of climate change and
resource scarcity. The time to act in
established and maintained
response to climate change is now in by a variety of organised
order to save our future.
business associations."
National Climate Change
Response White Paper
Minister Edna Molewa, MP
Minister of Water and Environmental
Affairs
5Carbon Disclosure Project 2011
Forewords
CEO Foreword
Foreword by Paul Simpson, CEO Carbon Disclosure Project
Corporations, investors and governments today are faced with a choice: to compete aggressively for finite resources,
or to advance
Corporations, towards
investors anda governments
low carbon economy that enables
today are faced sustainable,
with a choice: profitable
to compete growth,
aggressively whilst
for finite reducing reliance on
resources,
orincreasingly scarce amaterials.
to advance towards low-carbon economy that enables sustainable, profitable growth, whilst reducing reliance on
increasingly scarce materials.
Last year, global energy-related carbon dioxide emissions reached a record high. The International Energy Agency’s
Last year global
estimates madeenergy-related carbonbut
for bleak reading dioxide emissions reached
compounded a record
the necessity to high.
take The
boldInternational
and decisiveEnergy Agency
action if we estimates
are to have any
made
chance of limiting temperature increase to the 2°C level agreed by world leaders to protect against chance
for bleak reading but compounded the necessity to take bold and decisive action if we are to have any of
catastrophic climate
limiting temperature increase to the 2°C level agreed by world leaders to protect against catastrophic climate change.
change.
What’s more, rising energy demands are competing for a limited supply of fossil fuels. The competition for increasingly
What’snatural
scarce more,resources
rising energy demands
is putting areoncompeting
pressure commodityfor a limited
prices supply
and having of fossil impact
a growing fuels. The
bothcompetition
socially and for increasingly
scarce natural resources is putting pressure on commodity prices and having a growing impact
economically. It is clear that today, more than ever, we must build momentum to decouple economic growth both socially and
from
economically.
emissions. It is clear that today, more than ever, we must build momentum to decouple economic growth from emissions
Managing
Managing carbon
carbon emissions
emissions and and protecting
protecting the business
the business from climate
from climate change change impacts
impacts is is fundamental
fundamental to achievingto achieving
sustainable
sustainable and
and strong
strong shareholder
shareholder returns.
returns. Earlier
Earlier this year,
this year, the investment
investment consultancy
consultancy Mercera released
Mercer released a report concludin
report concluding
that
thatthe
thebest
bestwaywayforfor
institutional investors
institutional to manage
investors to manageportfolio risk associated
portfolio with climate
risk associated with change
climatemay be tomay
change shift be
40%to of
shift 40% o
their
theirportfolios into
portfolios climate-sensitive
into climate-sensitiveassets with an
assets withemphasis on those
an emphasis on that canthat
those adapt
cantoadapt
a low-carbon
to a lowenvironment.
carbon environment.
AnAnimportant
important part of an
part of investor’s strategy
an investor’s shouldshould
strategy be to engage with the with
be to engage companies in which they
the companies invest to
in which encourage
they invest to encourage
performance improvement. Carbon Action is a new initiative launched by CDP this year. It is driven by a leading group of
performance improvement. Carbon Action is a new initiative launched by CDP this year. It is driven by a leading grou
investors to encourage their portfolio companies to reduce emissions by investing in emissions reducing activities with a
of investors to encourage their portfolio companies to reduce emissions by investing in emissions reduction activities
satisfactory payback period. Carbon Action reflects a growing recognition that there is a huge range of carbon reducing
with a satisfactory
activities that companiespayback period. that
can undertake Carbon
have Action reflects
a very clear a growing
business case. Itrecognition
is therefore that
in thethere is a of
interests huge range of carbon
all investors
reduction activities that companies can undertake that have a very clear
and not just the more active owners of investments to ensure these actions are taken. business case. It is therefore in the interests
of all investors, and not just the more active owners of investments, to ensure these actions are taken.
As the management of carbon continues to move into companies’ core business strategies and mainstream investment
As the management
thinking, of carbon
demand for primary continues
corporate climateto move information
change into companies’ core business
grows around the world.strategies
As well asand mainstream
working on behalfinvestmen
of
thinking,
551 demandinvestors
CDP signatory for primary corporate
to gather relevantclimate change
information frominformation growsaround
large corporations aroundthe the world.
world, CDP Asiswell
alsoas working on
working
behalf
with of businesses
global 551 institutional investors totogather
and governments relevant
strengthen information
the resilience from large corporations
and sustainability of their supplyaround the world,
chains through the CDP is als
CDP Supply Chain programme. CDP Cities has been launched to help the world’s major cities
working with global businesses and governments to strengthen the resilience and sustainability of their supply reduce climate change risk chains
and bolster economic growth; and CDP Water Disclosure is now in its second year of working with
through the CDP Supply Chain program. CDP Cities has launched to help the world’s major cities reduce climate chang major global companies
torisk
improve water management.
and bolster A key part
economic growth, of CDP’s
whilst CDP strategy is to ensureisthe
Water Disclosure effective
now use of data
in its second collected.
year To assist
of working with with
major global
this companies are able to obtain tools that help them to measure, report and manage carbon more
companies to improve water management. A key part of CDP’s strategy is to ensure the effective use of data collected effectively, through
CDP Reporter
To assist withServices.
this companies are able to obtain tools that help them to measure, report and manage carbon more
effectively, through CDP Reporter Services.
It is through partnerships that CDP can achieve the largest impact. In South Africa we are delighted to be working with our
local partner, the National Business Initiative (NBI). In addition, we highly value the continued support of our Global Advisor,
It is through
PwC, as well aspartnerships that CDP
that of Accenture, can achieve
Microsoft, SAP andthe largest impact.
Bloomberg. These andWeour
areother
delighted to around
partners be working again
the world arethis year with
PwC, our Global Advisor, as well as with
integral to the acceleration of CDP’s mission. Accenture, Microsoft, SAP and Bloomberg. These and our other partners
around the world are integral to the acceleration of CDP’s mission.
Whilst we wait patiently for much needed global regulation, business must continue to forge ahead, innovate and seek out
Whilst we wait
opportunities patiently
by doing morefor much
with less.needed globalthat
The decisions regulation,
perpetuatebusiness must
a legitimate, continue and
low-carbon to forge ahead,economy
high growth innovate and see
will
outbring considerable
opportunities byvalue
doingto more
those with
that have
less.the
Theforesight to make
decisions that them. The information
perpetuate contained
a legitimate, in this report
low carbon and the
and high growth
companies’ responses
economy will assist in illuminating
bring considerable valuethat path. that have the foresight to make them. The information contained in thi
to those
report and the companies’ responses assist in illuminating that path.
PaulSimpson
Paul Simpson
CEO
CEO, Carbon Disclosure Project
Carbon Disclosure Project
6Partner and sponsor forewords
National Business Initiative framework for measurement, reporting Incite Sustainability
and verification (MRV). The Government
The context to the release of the JSE of South Africa intends establishing It is more than six years since we first
100 CDP report in 2011 is significant. a country-wide MRV system to approached the National Business
South Africa and the City of Durban measure climate variables and Initiative with the proposal to partner with
are hosting, and are party to, the 17th enable the identification of successful the Carbon Disclosure Project in London
Conference of the Parties to the United interventions. A level of MRV within to engage South African business on
Nations Framework Convention on the business community is essential in climate change. From the outset, our aim
Climate Change (COP17) and the 7th the implementation of market based was to contribute to a more informed
Meeting of the Parties to the Kyoto mechanisms in the pursuit of a low- appreciation amongst businesses,
Protocol (CMP 7). Mitigating climate carbon growth trajectory. While the investors and the financial media of
change to minimise disruption to CDP report has undoubtedly provided the strategic investment implications of
human and natural systems can only a framework for improved disclosure climate change, and to further encourage
be achieved through a concerted and performance for South African the proactive involvement of business
and coherent global response. That Companies, it has also illustrated the in identifying solutions to this significant
global response is informed by country need for further efforts required by economic, social and environmental
positions which are in turn informed by companies in more robust verification of challenge.
key sectors of those societies with the their data and activities.
business sector being pivotal in many Following those early conversations we
cases. Business might perpetuate the Companies who have consistently and have seen the publication of five annual
impacts on climate change or be the sincerely participated in the CDP will be CDP reports, each of which has shown
provider of solutions and in some cases well positioned to lead the transition to an encouragingly high level of South
be subject to significant economic a green economy. They will be better African business participation by global
restructuring. positioned to mitigate their carbon standards. While the response has
emissions and respond to Government’s always been comparatively high – with
The CDP in South Africa has assisted aspirations. However there is still much this year’s 83% response rate being
in demarcating the contribution to to be done and we cannot do it alone. the second highest globally – there has
carbon emissions of various industry The theme of partnerships is echoed been a profound shift in the nature of the
sectors. This supports appropriate by Government in their COP17 mantra business contribution since the first CDP
prioritisation of strategies to combat – “Working together we can save report in 2007. This is demonstrated in
climate change from both a government particular by the significant increase in
tomorrow today”.
and business perspective. The CDP has the number of South African companies
also been a catalyst for action, in driving that are now assessing and reporting
business to integrate climate change on their carbon footprints and that are
into strategy and in the identification of voluntarily committing to emissions
risks and opportunities, promoting the reduction targets.
link between environmental, economic
Joanne Yawitch Although we believe that the CDP has
and social imperatives. Although the
played a valuable role in increasing
execution of strategy and realisation Chief Executive Office, NBI
corporate awareness and action on
of opportunities is the next great
climate change, it is evident that much
challenge, the CDP disclosure provides
still needs to be done if we are to limit
encouraging evidence of revised
the global temperature increase to the
business models and a significant
2°C level agreed by world leaders. This
investment in mitigation activities.
will require active leadership from the
business and investment community,
Achieving the policy aspirations in South
informed by an understanding that
Africa’s recently released White Paper
responding to climate change is
on Climate Change would require close
fundamental to ensuring the sustained
cooperation between Government
creation of value, both for shareholders
and Business and would mean major
and society at large. Hopefully the
challenges for both. The theme of this
analysis provided in this year’s report,
report – “Partnering for a low carbon
and the shifts prompted by the process
future” is apposite in this context. In
of reporting, will further contribute to this
order for government to realise its
ambitions there will have to be sustained understanding.
effort and cooperation from all spheres
of government, the private sector and
civil society alongside the dedication of
individual citizens of South Africa.
Jonathon Hanks
A key area in the COP17 negotiations
will be work that will progress a Director, Incite Sustainability
7Carbon Disclosure Project 2011
KPMG years, is a positive sign as measurement Element Investment
and disclosure is the first step to
The latest Carbon Disclosure Project effectively managing carbon emissions.
Managers
(CDP) report for South Africa highlights Top organisations have taken this We make long-term investment decisions
a welcome trend of an increasingly further by also increasing their reporting on behalf of our clients and investors.
proactive response to climate change on identified risks and opportunities – Climate policy and resulting regulation
by the private sector. With an impressive the next crucial step towards a good can have a material impact on the
83%, South Africa has the second carbon management framework. As economy and the underlying different
highest CDP response rate in the world expected, there are clearly still areas investment asset classes over the long-
– definitely something for us all to be for improvement, including the need term. Investors require policy certainty
proud of. for more organisations to verify their so they can make the best possible
measured emissions, and for the investment decisions on behalf of their
As a lead sponsor and enthusiastic robust sensible analysis of risks and clients.
participant of the CDP in South Africa, opportunities.
KPMG is proud to be involved with Element Investment Managers (Element)
the launch of the 2011 CDP report, Organisations that are at the forefront has been a Carbon Disclosure Project
timed to coincide with the 17th United of the measurement and disclosure of (CDP) signatory investor and sponsor
Nations Conference of the Parties on carbon emissions, and that develop and because it is a powerful tool to enhance
Climate Change. COP17 is a highly implement sound carbon management awareness of climate change, help
significant milestone in international strategies, are better equipped to deal companies to identify potential risks and
climate negotiations, with the existing with the risks and opportunities in an opportunities due to climate change
agreement in the form of the Kyoto increasingly complex carbon, energy and and encourage action to mitigate
Protocol expiring in 2012. As the host water regulatory environment. these risks and take advantage of the
Nation of COP17 and in the spirit of the opportunities. It is concerning that a few
negotiations, it therefore seems fitting We commend the many organisations companies have still not taken advantage
for South Africa’s CDP report to be that have already taken this important of the CDP programme to develop
launched at this time. visionary step and encourage all measurement processes and plans to
organisations to do likewise. By pro- reduce emissions. In discussions with
An overarching theme of this year’s actively tackling the issues of climate investee companies, we understand that
CDP report is that of Government change – and seizing the opportunities – it takes approximately three years to
and organisations working together. business can reasonably ensure that they develop accurate management emission
The private sector plays an important are equipped to drive value, responsibly information processes.
role in achieving our national carbon and sustainably, through effective carbon
reduction ambitions, with Government’s management programmes. Element has engaged with a number
role to facilitate this through sound of South African companies to carefully
climate policy and incentivising the The CDP is ultimately about much consider climate change risks and
transition to a low carbon economy. It more than a report – it’s a reflection of opportunities and improve disclosure.
is most encouraging to note that in the how we see our world and what we’re While most companies have become
National Development Plan (presented doing about this to positively shape a aware of the link between energy
to President Jacob Zuma by Minister sustainable future. We have a shared consumption, emissions and operating
Trevor Manuel on behalf of the National responsibility for securing the future – as costs, some are still not taking the
Planning Commission on 11 November individuals, for our own organisations and opportunity to reduce long-term costs
2011), matters around climate change for future generations. through the use of more energy efficient
(in the context of the use of natural technology and practices.
resources) feature prominently. In short,
the Government is saying that “we Element is also participating in the global
need to act in a way that protects our CDP Water Disclosure Project and a
environment” – something that we all collaborative PRI engagement with
readily subscribe to. Moses Kgosana companies that did not respond to CDP
Chief Executive, KPMG in South Africa Water Disclosure in 2010.
It is clear that as South Africa continues
on its path of introducing sustainable Chairman and Senior Partner, KPMG
climate change policy, the need for Africa
constructive engagement between
Government and organisations in the
private sector remains crucial. KPMG
will continue to play a key role in David Couldridge
facilitating this. Investment Analyst, Element Investment
Managers
South Africa’s very high CDP response
rate, in itself an increase on previous
8Partner and sponsor forewords
Industrial Development The South African Post Webber Wentzel
Corporation Office
The Industrial Development Corporation (IDC) has a long and proud history in the
2011 is a momentous year for South
development of the South African economy and the rest of the continent.
TheCombating
Industrialclimate
Development Corporation On 1 November 2011, mankind Africa’s response to climate change,
(IDC) has
change is a challenge that will require a multi-pronged approach in predominantly due to the publication of
order to a long aand
achieve proud
resilient history
economy, in the opportunity
realising symbolically
presented celebrated
by the the birth of the
the development
development of theeconomy.
of a green South ItAfrican 7th billion
is against this background human
that the IDC being
has set alive on earth.
the National Climate Change Response
economy
aside R22, and the rest
4 –billion, the of the allocation
largest continent. of the IDC Taking steps
funds to date, to sustain
towards the an inhabitable White Paper (the “Paper”) and the 17th
development of the green economy. planet for the seven billion people on Conference of the Parties to the UN
Combating climate ischange ispriority
a challenge earth has become key the responsibility of all, Framework Convention on Climate
The green economy one of the sectors outlined in the government’s
thatinitiatives:
will require a multi-pronged
New Growth especially
Path and the Industrial Policy and industry, being a major cause
Action Plan. Change (“COP 17”), both of which have
approach in order to achieve a resilient of greenhouse gases. and still will significantly affect South
Energy efficiency and savings should be a strategic priority for companies, particularly
economy, African businesses and the South African
given therealising the Africa
fact that South opportunity
is moving to higher, cost-reflective electricity pricing.
presented by the development of a green Importantly, climate change can be economy.
To realise this, the IDC, in collaboration with the German Development Bank (Kfw) has
economy. It is against this background addressed only through coordinated joint
launched a Green Energy Efficiency Fund (GEEF), specifically aimed at providing
thatincreased
the IDCaccess has set At the outset, we should commend
to energy efficiency and renewable action.
aside R22,4 –billion, Andallthis
energy across is where
industry the National
sectors.
the largest allocation of the IDC funds to Business Initiative is so important, by South African businesses for making a
date, towards the development of the presenting a forum where business can
The IDC is proud to be associated with the Carbon Disclosure Project and is looking commitment towards reducing and more
forward to increased participation in this regard.
green economy. share information and success stories. effectively monitoring and disclosing their
carbon emissions, which trend is clearly
The green economy is one of the priority The South African Post Office reduced illustrated in the 2011 Carbon Disclosure
sectors outlined in the government’s key its carbon emissions by 6.3% over Project (“CDP”) report. In the wake of
initiatives: New Growth Path and the the past two financial years. This, it COP 17, business should continue such
Industrial Policy and Action Plan. achieved by switching to vehicles with enthusiasm for negating the effects of
lower emissions, rationalising transport climate change and reducing carbon
Energy efficiency and savings should routes, switching to low-energy light emissions.
be a strategic priority for companies, bulbs in all its facilities, and introducing
particularly given the fact that South a programme to reduce paper use and It is imperative for business to place
Africa is moving to higher, cost-reflective recycle the paper we do use. increased focus on reducing carbon
electricity pricing. emissions, not only to avoid tax and
Moreover, the company offset 6.5% of its other forms of liability, but also to
To realise this, the IDC, in collaboration carbon footprint by planting 1 107 trees remain competitive and participate in
with the German Development Bank at schools during the past financial year. the benefits of South Africa’s transition
(Kfw) has launched a Green Energy to a low carbon economy. Although the
Efficiency Fund (GEEF), specifically aimed These steps are simple and easy to implementation of such practices will
at providing increased access to energy implement and in all cases where less require massive restructuring and will
efficiency and renewable energy across resources were used, costs were saved. be costly, it is predicted that such costs
all industry sectors. will far outweigh the costs of delay or
As issues of climate change become inaction.
The IDC is proud to be associated with more important, environmental policies
the Carbon Disclosure Project and is may become a vital component of Webber Wentzel’s Climate Change and
looking forward to increased participation continuing business. It is encouraging to Carbon Trading Unit continues to lead
in this regard. see more companies joining the NBI and the market throughout these significant
the SA Post Office is therefore proud to changes in the industry and remains
be a state-owned entity that executes committed to support businesses in
the targets set by government’s mandate their journey towards a climate-resilient
on the environment. and lower carbon economy and society.
We commend the CDP for its influence
in achieving this important goal and are
proud once again to sponsor the CDP.
MG Qhena
CEO, IDC
Nick Buick
Acting CEO, SA Post Office
Johann Scholtz
Partner and Head, Webber Wentzel
Climate Change and Carbon Trading
Practice Group
9Carbon Disclosure Project 2011
Executive summary
Introduction African companies are recognising Fewer concerns remain
and responding to the strategic risks regarding the poor response
Since 2000, the Carbon Disclosure and opportunities that climate change rate of certain sectors.
Project (CDP) has, on behalf of its presents. While it is very encouraging Certain sub-sectors continue to
signatory investors, challenged the that both performance and disclosure have fairly low response rates,
world’s largest companies to measure has improved across most of the including most noticeably, Real
and report their carbon emissions, indicators, more remains to be done Estate (only three out of nine
integrating the long-term value and to adequately address the nature and companies responded, although
cost of climate change into their scale of the challenge. this represents an improvement
assessment of the financial health and on the two companies that
future prospects of their business. The CDP questionnaire responded in 2010); and Hotels
& Resorts (the single company
This year, CDP – backed by 551 An underlying objective of the in the sample did not respond
institutional investors holding US$71 CDP is to review and assess the for the fifth consecutive year).
trillion in assets under management disclosure and action of companies Previous poorly responding
– sent questionnaires to the world’s and sectors against what is seen sectors have improved, notably
largest companies asking them to as a best practice response to the in the Food Products sub-sector
measure and report what climate challenges of climate change. The CDP where all companies responded.
change means for their business. questionnaire focuses on three key All companies in the Industrials
These responses provide a valuable areas: climate change management, and IT & Telecoms sectors
insight into how companies are risks and opportunity identification, responded.
preparing for an increasingly resource and GHG emissions accounting and
constrained world, and show a shift in performance. These questions provide Improved levels of disclosure is
company strategy to prepare better for companies with an opportunity to evident on most key issues
a low-carbon economy and act on the identify the strengths and current
business opportunities. challenges in their management of The level of disclosure on
climate change issues. most issues has improved
South Africa has signalled its intention since 2009, including most
to follow a low-carbon growth path CDP 2011 Highlights significantly in the identification
and to play a leadership role among of risks and opportunities.
developing countries. The country Improved response rate in South Disclosure levels have improved
is hosting the 17th Conference of Africa across all key issues – namely risks
the Parties (COP17) to the United and opportunities, GHG emissions,
South Africa’s fifth CDP
Nations Framework Convention on GHG reduction targets and
information request generated
Climate Change (UNFCCC) and the activities, and climate governance
a response rate of 83%
7th Session of the Conference of the practices. The identification
(as compared with last year’s
Parties serving as the meeting of the of risks and opportunities has
74%), ranking the South African
parties (CMP7) to the Kyoto Protocol, shown the greatest year-on-year
response rate as the second
to negotiate global climate change improvement.
highest CDP response rate
policy. The national government internationally. This suggests 99% of responding companies
is developing a climate change that, notwithstanding short-term disclosed their GHG emissions.
response strategy, and a carbon tax concerns and the pressures This is an increase on last year’s
is being mooted to help achieve the associated with the economic 94% disclosure rate (87% in
country’s mitigation objectives. South downturn, climate change 2009), and is accompanied by
African business is also arguably remains high on the South African an increase in the disclosure of
demonstrating leadership by raising corporate agenda. Scope 3 emissions across most
the profile of the importance of climate
sectors, increased reporting of
change action. General improvement in emissions intensity data and
response rate across most more transparency on climate
This report, prepared by Incite sectors. The response rates of change issues in annual and/or
Sustainability on behalf of the all sectors improved except for sustainability reports.
National Business Initiative (NBI), Energy & Materials (due to new
analyses the responses from the 83 companies entering the sample for The number of companies
of the 100 largest corporations on the first time). Consumer Staples verifying their emissions has
the South African JSE that voluntarily and IT & Telecoms shows the remained static. This year, 30
participated in CDP 2011. It provides greatest level of improvement. companies (38% of respondents)
insight into how these major South have verified or are in the process
10Executive Summary
of verifying elements of their Scope Limited evidence of climate South Africa’s industrial GHG
1 or 2 emissions; this compares adaptation strategies. It emissions continue to be
with 29 (41%) companies in 2010. appears that local companies dominated by a few companies
are insufficiently advanced in
A few carbon-intensive
There is growing awareness their adaptation initiatives; while
companies continue to
among South African this may be partly a result of the
dominate South Africa’s direct
companies of the risks and nature of the CDP questionnaire,
(‘Scope 1’) GHG emissions.
opportunities of climate which focuses predominantly on
South Africa’s total emissions
change, although often at mitigation activities, there is scope
level from all sources has been
a general level. While most for a more structured focus on
estimated at approximately 510
responding companies recognise adaptation opportunities. Most
million metric tons of CO2e.1 For the
that climate change will entail companies that have implemented
78 JSE companies that reported
potentially significant regulatory, adaptation initiatives are in the
their emissions – including those
physical and other risks and Energy & Materials and Financials
companies whose emissions have
opportunities for their operations, sectors.
not been made public – the total
few companies show evidence of
Scope 1 emissions (i.e. excluding
being rigorous in quantifying the Increased evidence of partnerships emissions associated with electricity
potential financial implications of and climate change governance usage) for the South African
climate change. Some questions practices operations is 100.4 million metric
remain regarding the extent to
Climate change issues appear tons of CO2e. In terms of direct
which companies are responding
to be increasingly integrated local emissions, the data highlights
at a sufficiently strategic level to the
in companies’ governance the predominant contribution of
risks and opportunities that they
activities. Sixty-eight companies Sasol (with reported annual Scope
identify.
(90% of respondents) report 1 emissions of 61.2 million metric
Increase in number of having a board committee or tons of CO2e), followed by Arcelor
companies with GHG executive body with responsibility Mittal SA (11.9 million metric tons),
emissions reduction targets. for climate change; forty Pretoria Portland Cement Co (4.8
This year, 40 companies companies (51% of responding million metric tons), BHP Billiton
(including almost all of the high companies) report that they have (3.1 million metric tons), Evraz
emitting companies) reported made provision for monetary Highveld Steel and Vanadium (2.8
having emissions reduction management performance million metric tons), Anglo American
targets; this compares with 31 incentives relating to the (2.7 million metric tons), Sappi
companies in 2010 and 20 in achievement of climate change (2.7 million metric tons), Harmony
2009. These targets comprise goals and objectives. While 77% Gold Mining Co. (1.5 million metric
a mix of both absolute and of responding companies report tons), Mondi Group (1.0 million
intensity-based reduction targets, that climate change risks and metric tons) and Gold Fields (1.0
with significantly varying levels of opportunities are integrated into million metric tons). Placing this in
ambition and time frame. their overall business strategy, only context, Eskom’s publicly reported
14% clearly indicate that climate calculated emissions of carbon
There has once again been change has influenced their short- dioxide for the year ending March
an increase in disclosure on term and long-term strategy. 2011, is 230.3 million metric tons2,
emissions reduction initiatives, representing 45% of South Africa’s
with the greatest focus being total emissions. All companies in
Continuing evidence of the JSE 100 together with Eskom
on energy efficiency initiatives. business partnerships. While it
Most energy efficiency initiatives account for 65% of the country’s
is encouraging to see evidence of emissions.
relate to processes and building South African businesses entering
services. Behavioural change into partnerships – with peers,
is the second most common There are some encouraging
critics and competitors – there is signs regarding efforts to reduce
approach to reducing emissions. nevertheless seen to be scope
Reported levels of investment in emissions and promote adaptation
for further developments in this within companies’ spheres of
emission reductions activities have area along the lines of some of the
increased from R 9.5 billion to influence. While it is important to
progressive partnership initiatives track the performance of the larger
R 17.9 billion. This increase that have been pursued for
is likely due to both increased example in Europe. 1 Witi, J. 2011. Department of Environmental Affairs.
investment as well as increased Personal communication, 26 September 2011.
disclosure of investment figures. 2 Eskom Integrated Report 2011: Partnering for a
Sustainable Future.
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