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

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Presentation on theme: "Carl Wirdak Occidental Petroleum Corporation GEMI Survey Climate Change – Where Do We Stand? March 2003."— Presentation transcript:

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

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

3 Climate Change Benchmarking – March 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!

4 Climate Change Benchmarking – March 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

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

6 Climate Change Benchmarking – March 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…

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

8 Climate Change Benchmarking – March 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 NoYes Communicate Position Publicly No Climate Change Strategy Yes Number of Companies No. of companies = 30

9 Climate Change Benchmarking – March 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 Type of goals

10 Climate Change Benchmarking – March Climate VISION Feb. 12, 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

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

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

13 Climate Change Benchmarking – March Inventories - Scope 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 Activities considered in inventory

14 Climate Change Benchmarking – March 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

15 Climate Change Benchmarking – March 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

16 Climate Change Benchmarking – March External Organizations U. S. Department of Energy1320 U. S. EPA1311 World Resources Institute1211 EPA Climate Leaders1030 WBCSD821 Nature Conservancy721 Pew Center541 Helpful Neutral Not Helpful 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

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

18 Climate Change Benchmarking – March 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

19 Climate Change Benchmarking – March 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

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


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