Global partnership designed to create unified business response to climate change
The Carbon Disclosure Project (CDP) has announced a three-year global partnership with Merrill Lynch.
CDP is the world's largest investor collaboration on climate change. Each year it sends out a request to over 3,000 companies globally on behalf of investors including Merrill Lynch, AXA, Allianz, ANZ, Banco do Brazil, Mitsubishi UFJ, AIG Investments, The RBS Group and HSBC.
The request asks companies to measure and disclose their greenhouse gas emissions and report on their strategy for dealing with risks and opportunities associated with climate change.
Carbon Disclosure Project chief executive, Paul Dickinson, added: 'This global partnership will help CDP to build on its current success in creating a unified business response to climate change. As regulations on greenhouse gas emissions tighten, CDP data will become increasingly useful to help guide investment models. We hope other leading global institutions will follow Merrill Lynch's lead in working with CDP as part of a Consortium of Global Partners.'
Merrill Lynch president and chief operating officer, Greg Fleming: 'As a founding partner of CDP, Merrill Lynch is proud to support the expansion of this critical and unique organization. CDP is the gold standard for carbon disclosure methodology and we are proud to partner with them as we pursue environmental excellence for our firm and our clients.'
Merrill Lynch managing director and global head of carbon emissions, Abyd Karmali, said:
'CDP has been instrumental in creating a constructive dialogue between companies and the financial markets on new opportunities and risks posed by climate change. Importantly it has also promoted continuous improvement in corporate reporting on carbon emissions which has been valuable to Merrill Lynch in developing new carbon-related investment products. For example, CDP data were instrumental for Merrill Lynch in launching our Capital Protected Carbon Leaders Europe Index Certificate in 2007.'