The Finnish stainless steel producer Outokumpu’s approach to climate change disclosure is recognised by the Carbon Disclosure Project (CDP) and is included in the Carbon Disclosure Leadership Index for the third consecutive year. The CDP represents 655 institutional investors with $78 trillion in assets under management and the index provides an evaluation tool for institutional investors.
Sustainability is an integral part of Outokumpu’s production process and business conduct, according to Tuomas Haikka, Vice President of Sustainability at the company. “We set ambitious targets to improve our environmental performance. For example, we have managed to decrease our carbon footprint by 40% from the 1990s. Our target now is to achieve a further 20% reduction by 2020,” he says. “The development is based on improvements in energy efficiency, the use of low-carbon energy sources and continuous process improvements in production.”
Professional disclosure practices
The Carbon Disclosure Leadership Index, a key component of CDP’s annual Nordic 260 Climate Change Report, highlights the constituent companies within the Nordic stock exchanges which have displayed the most professional approach to corporate governance in respect of climate change disclosure practices. Companies are scored on their climate change disclosure and high scores indicate good internal data management and understanding of climate change related issues affecting the company.
Altogether 26 companies of the 260 Nordic stock exchange listed companies participating in the review were included in the 2012 Carbon Disclosure Leadership Index. The report is based on the analysis of the responses to CDP’s questionnaire which focused on greenhouse gas emissions, emissions reduction targets and risks and opportunities associated with climate change.
Source: Outokumpu Oyj