Date published: 01.09.08 - not release date

A THIRD OF FTSE 100 COMPANIES REAP COST SAVINGS AND BUSINESS BENEFITS FROM ACTIVELY SEEKING TO REDUCE CARBON EMISSIONS SHOWS RESEARCH

*Measuring full scope of carbon footprint and setting quantified targets for reduction is key to ongoing success says Greenstone following FTSE 100 research*

London, 24th January 2007 – Research has revealed that one third (34) of FTSE 100 companies have achieved cost savings directly as a result of setting quantifiable targets to reduce their carbon emissions. Nine out of ten companies that set quantified targets achieved cost savings. FTSE 100 research carried out by Greenstone Carbon Management, a specialist provider of carbon management services, is based on the publicly disclosed CDP4* responses from the top UK listed companies.

The Greenstone analysis also highlights concerns in the scope of reporting on carbon emissions. Whilst transport accounts for a quarter of the UK’s greenhouse gas emissions – and is the fastest growing sector contributing to climate change – fewer than one in five FTSE 100 companies report whether they include transport activities in their carbon footprint. Only eight companies reported that they include business travel. While not obligatory to report on these activities in the CDP4 study, Greenstone warns of the dangers of overlooking major contributors to an organisation’s carbon footprint, of which transport and travel are significant.

Greenstone’s research also reveals that one in five companies are looking to carbon offset projects as part of their overall carbon management strategies.


Belinda Howell, Chief Executive Officer of Greenstone, comments: “Companies can only account for and drive down carbon and realise significant operational cost savings if they can quantify their carbon footprint and the targets they are setting. The first steps in tackling climate change need to look at measuring and reducing carbon footprint before offsetting the remaining carbon – prevention is better than cure.”

“Unless organisations are using accurate reporting systems it will be impossible to benchmark companies’ performance. Greenstone’s research shows that cost savings are there for the taking but companies must develop holistic carbon management strategies. Transport and travel activities are clearly not being fully addressed and it’s crucial that organisations include these in their carbon reduction programmes moving forward. Only then will it be possible to achieve beneficial financial as well as environmental performance that is sustainable year-on-year.”

* The Carbon Disclosure Project 2006 (CDP4) is a coalition supported by 225 investors with $31.5 trillion assets under management – the world's largest institutional investor collaboration on the business implications of climate change.

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Notes to Editors
About Greenstone Carbon Management
Greenstone Carbon Management is a specialist carbon management company, working in partnership with major companies to account for and drive down carbon, mitigate the impact of emissions, and realise significant operational cost savings.

For more info please visit www.greenstonecarbon.com.

For more info please contact Catherine Stedall/ Rebecca Dunstan at Portfolio Communications on 020 7240 6959 or Catherine.Stedall@portfoliocomms.com / rebecca.dunstan@portfoliocomms.com

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