Borregaard scored ‘A’ for climate change
Borregaard has been highlighted as a global leader on corporate climate action by environmental impact non-profit CDP, achieving a place on the CDP Climate Change A List.
Every year, thousands of companies disclose data about their environmental impacts, risks and opportunities to CDP for independent assessment against its scoring methodology. In 2018, companies were requested to do so by over 650 investors with over US$87 trillion in assets, and/or 115 major purchasing organizations with US$3.3 trillion in purchasing power. Companies receive scores of A to D- for how effectively they are tackling climate change, deforestation and water security, while those that don’t disclose or provide insufficient information are marked with an F.
Borregaard has been recognized for its actions in the last reporting year to cut emissions, mitigate climate risks and develop the low-carbon economy, based on its 2018 disclosure to CDP
“Sustainability is a key component of Borregaard’s business model and one of its three core values. The company offers green products with good climate and environmental properties that replace oil-based products. EHS is a top priority throughout the Group, and significant sums are invested in this area. At the same time, profitability is a prerequisite for sustainability. Both the way the Group is run and the products it produces are sustainable and meet global needs,» says President and CEO Per A. Sørlie.
“Congratulations to all companies that made it onto CDP’s A List this year. As the severity of environmental risks to business becomes ever more apparent, these are the companies that are positioning themselves to provide solutions, seize new market opportunities and thrive in the transition to a sustainable economy. We need to urgently scale up environmental action at all levels in order to meet the goals of the Paris Agreement and the Sustainable Development Goals. It’s clear that the business world is an essential player in this transition and the A List companies are set to make a substantial contribution to those goals, ” says Paul Simpson, CEO of CDP.
CDP assesses companies on the comprehensiveness of their disclosure, their awareness and management of environmental risks and their demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. The full list of companies that made this year’s CDP Climate Change A List are available here, along with all other public company scores:
Borregaard has one of the world’s most advanced and sustainable biorefineries. By using natural, sustainable raw materials, Borregaard produces advanced and environmentally friendly biochemicals that can replace oil-based products. Borregaard has 1100 employees in factories and sales offices in 16 countries in Europe, America, Asia and Africa. Borregaard also holds strong positions in ingredients and fine chemicals.
CDP is an international non-profit that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. Voted number one climate research provider by investors and working with institutional investors with assets of US$87 trillion, we leverage investor and buyer power to motivate companies to disclose and manage their environmental impacts. Over 7,000 companies with over 50% of global market capitalization disclosed environmental data through CDP in 2018. This is in addition to the over 750 cities, states and regions who disclosed, making CDP’s platform one of the richest sources of information globally on how companies and governments are driving environmental change. CDP, formerly Carbon Disclosure Project, is a founding member of the We Mean Business Coalition. Visit www.CDP.netor follow us @CDP to find out more.