On January 20, 2020, According to the “Climate and business partnership of the future: CDP India Annual Report 2019” released by CDP (Carbon Disclosure Project), a not-for-profit charity running the global disclosure system for investors, companies to manage their environmental impacts, India has ranked 5th among the countries surveyed for corporate commitments to science-based targets (SBT).
As per the report, 58 Indian companies shared details about the environment-related activities undertaken by them in 2019.Top 5 countries with SBT companies:
|1||United States of America (USA)||135|
|3||United Kindom (UK)||78|
i.The report surveyed a total of 6900 companies across the globe to compile their annual report for 2019. These firms contribute to 55% of world capitalization.
ii.The report notified that more than 98 % of leading Indian companies have formed some committee / group within its organization to meet & address climate-related issues.
iii.The report also found that investors responded to companies in a good manner who have disclosed their climate risk. The report also claimed that investors also took into account the environmental activity from Indian companies before investing in an organization.
iv.India secured 5th spot ahead of Germany (30 companies) and Sweden (27 companies) & becomes the 1st developing nation with maximum number of companies committing to the SBTs.
It has regional offices and local partners spanning 50 countries. There are now companies, cities, states and regions from over 90 countries disclosing through CDP on an annual basis.