Borregaard scores an ‘A’ for climate change
Borregaard has been commended for its climate action, achieving a place on global environmental impact non-profit CDP's prestigious ‘A List’ for climate change, based on the company’s climate reporting in 2019. Borregaard is one of 8,400 companies reporting to CDP last year, only 179 of these made the climate change ‘A List’.
Borregaard was recognized for its actions to cut emissions, mitigate climate risks and develop the low-carbon economy, based on the data submitted by the company through CDP’s 2019 climate change questionnaire. Borregaard is one of a small number of high-performing companies out of thousands that were scored.
CDP’s annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. In 2019, over 525 investors with over US$96 trillion in assets and 125 major purchasers with US$3.6 trillion in procurement spend requested companies to disclose data on environmental impacts, risks and opportunities through CDP’s platform and over 8,400 responded.
A detailed and independent methodology is used by CDP to assess these companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Those that don’t disclose or provide insufficient information are marked with an F.
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. This is Borregaard’s second year on CDP’s ‘A List’.
“EHS is a top priority throughout the Borregaard 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 the companies that achieved a position on CDP’s A List this year, for leading in environmental performance and transparency. The scale of the business risks from the climate emergency, deforestation and water insecurity are vast – as are the opportunities from addressing them – and it’s clear the private sector has a vital role to play at this critical time. The A List companies are leading the market in corporate sustainability, tackling environmental risks and setting themselves up to thrive in tomorrow’s economy,” says CEO of CDP Paul Simpson.
The full list of companies that made this year’s CDP Climate Change A List is available here, along with other publicly available company scores: https://www.cdp.net/en/companies/companies-scores
Borregaard has one of the world's most advanced biorefineries. By using natural, sustainable raw materials, the company produces advanced and environmentally friendly biochemicals and biomaterials that can replace oil-based products. Borregaard has 1100 employees in 16 countries and had a turnover of NOK 4.8 billion in 2018 from sales to over 100 countries.
CDP is a global 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$96 trillion, we leverage investor and buyer power to motivate companies to disclose and manage their environmental impacts. Over 8,400 companies with over 50% of global market capitalization disclosed environmental data through CDP in 2019. This is in addition to the over 920 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 is a founding member of the We Mean Business Coalition.