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GEMI Survey Climate Change – Where Do We Stand?

GEMI Survey Climate Change – Where Do We Stand?. March 2003. Carl Wirdak Occidental Petroleum Corporation. Outline. Survey Recap Strategies Goals Inventories Voluntary Initiatives External Organizations. Survey Overview.

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GEMI Survey Climate Change – Where Do We Stand?

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  1. GEMI SurveyClimate Change – Where Do We Stand? March 2003 Carl Wirdak Occidental Petroleum Corporation

  2. Outline • Survey Recap • Strategies • Goals • Inventories • Voluntary Initiatives • External Organizations Climate Change Benchmarking – March 2003

  3. Survey Overview • Survey addresses the topic of climate change as it applies to a company’s business activities • Survey response rate = 50% • Augmented with information from other GEMI member websites (brings response to 75%) • Not all companies completed all questions • Broad industry coverage • Thank you to all participants! Climate Change Benchmarking – March 2003

  4. Strategy Overview • Survey defined strategy broadly • requires conscious decision to link current or future plans and action to the climate change issue, but… • no prescribed elements, format or scope • 28 of 30 GEMI companies have or will have a climate change strategy within 2 years Climate Change Benchmarking – March 2003

  5. Strategy Basis • Why do companies have a climate change strategy? Science doesn’t drive actions Climate Change Benchmarking – March 2003

  6. Strategy Elements • Top tier – “no regrets” actions • Middle tier – tough stuff that takes real $$ to do • Bottom tier – mostly Kyoto driven, but since it hasn’t been ratified… Climate Change Benchmarking – March 2003

  7. Strategy Adoption • Climate strategies are a recent phenomena • In nearly every case, the strategy applies across the company • Strategies sanctioned by Board = 23% Climate Change Benchmarking – March 2003

  8. Number of Companies Yes 3 23 Climate Change Strategy 3 1 No No Yes Communicate Position Publicly Public Communication of Position • Companies with a climate change strategy communicate their position • Absence of discussion does not mean that there is no climate change strategy No. of companies = 30 Climate Change Benchmarking – March 2003

  9. Goals Type of goals • 73% of the GEMI companies with a climate change strategy have associated goals • Preference is for numeric goals • 90% of those companies that have goals disclose them publicly No. of companies = 19 Climate Change Benchmarking – March 2003

  10. Climate VISION • Feb. 12, 2003 - Bush administration announces agreements in which companies will voluntarily meet targets to reduce, avoid, or sequester greenhouse gas emissions • Climate VISION = Climate, Voluntary Innovative Sector Initiatives: Opportunities Now • 16 GEMI companies indicated that they are part of an industry association that pledged support Climate Change Benchmarking – March 2003

  11. Inventories - Overview Inventory Baseline Year >85% of firms have inventories and most use recent baselines Climate Change Benchmarking – March 2003

  12. Inventory - Gases # of GHGs in inventory • Carbon dioxide is most common GHG in company inventories Climate Change Benchmarking – March 2003

  13. Inventories - Scope Activities considered in inventory • Electricity / energy production (direct and indirect) and processing are top categories • Just over half of the companies that assemble a GHG inventory use a published protocol Climate Change Benchmarking – March 2003

  14. Voluntary Initiatives • 24 of the 30 GEMI companies included in the survey participate in voluntary climate change initiatives Climate VISION EPA Climate Leaders EPA Green Power Partnership EPA WasteWise EPA SmartWay Transport DOE 1605b BRT Climate RESOLVE Pew Climate Change API climate initiative ACC climate initiative Australian Greenhouse Challenge Canada, UK, Netherlands programs NJDEP GHG Action Plan Climate Change Benchmarking – March 2003

  15. Voluntary Programs - Incentives • What’s in it for companies that participate in voluntary climate change programs? • Enhances relationships with variety of external constituents • Helps company learn how to deal with the specific issues • Other benefits Climate Change Benchmarking – March 2003

  16. External Organizations • Results of poll ranking 29 NGOs and other organizations • Screened to show only those receiving votes from at least ½ of survey respondents • Not helpful • CERES • Greenpeace Not Helpful Neutral Helpful Climate Change Benchmarking – March 2003

  17. Information Sources What are the top web sites? • Dept. of Energy • EPA • GEMI • World Resources Institute Common • Pew Center • WBCSD • United Nations Environment Program Less common Climate Change Benchmarking – March 2003

  18. External Inquiries • Innovest Advisors - summary report • Most companies (80%) acknowledge risks • Most have not informed shareholders of financial risks • Companies that take steps to address climate change can mitigate losses and even gain competitive advantage • Carbon Disclosure Project • www.cdproject.net • Target: FTSE 500 • CEO was recipient • SRI fund backing • 24 of 30 GEMI companies received questionnaire Climate Change Benchmarking – March 2003

  19. Climate Change Nuggets • There’s a “rising tide” of company climate strategies • Resistance to goals is “thawing” • Public disclosure is more than a bunch of “hot air” • Most GHG baselines are “frozen” in year 2000 • GHG emissions inventories are a “gas” • Companies have “warmed-up” to voluntary climate-related initiatives • The “heat is on” from external organizations Climate Change Benchmarking – March 2003

  20. Closing Comments • Questions / comments / discussion • June benchmarking will look at EHS information management systems Climate Change Benchmarking – March 2003

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