A group of 211 institutional investors with combined assets under management of US$31 trillion is writing to 1,800 of the largest public companies in the world, asking for the disclosure of investment-relevant information concerning their greenhouse gas emissions.

This is the fourth version of the request by the Carbon Disclosure Project (CDP), which includes a larger group of investors that past versions.

The CDP is a special project of the Philanthropic Collaborative of Rockefeller Philanthropy Advisors in New York.

Corporations that previously provided responses are invited to report progress. Companies that previously did not respond are requested to do so, or to provide a reason why they do not believe the request is relevant to their business.

The previous three requests were sent to the 500 largest corporations by market capitalisation in the world, the FT500. This fourth request will also be sent to: 500 of the largest companies in the US (S&P 500); 258 of the largest electric utilities globally; 300 of the largest emitters in Canada, in partnership with the Conference Board of Canada; 200 of the largest companies in Germany; 150 of the largest companies in Japan; 150 of the largest companies in Australia and New Zealand; 120 of the largest companies in France; 100 of the largest companies in the UK; 50 of the largest companies in Brazil; and, 40 of the largest companies in Asia outside of Japan.

“The numerous indications of accelerating human induced climate change make it clear that there are business risks and opportunities that have implications for the value of investments in corporations worldwide. Examples include changes in weather patterns; political and regulatory momentum moving against significant carbon emitters; the development of emissions-sensitive technologies, products and services superseding those existing today; and shifts in consumer sentiment due to a corporation’s stance on climate change,” commented Paul Dickinson, the project coordinator.

“This makes it necessary for investors to improve their understanding of climate change risks and opportunities. The data to assess these issues is not always available, sometimes lacks comparability or is of poor quality,” he adds. “The Carbon Disclosure Project aims to encourage the development of a common emissions measurement methodology and to facilitate its integration into general investment analysis. The signatories recognize that companies face pressure to comply with constant demands for information and so have joined in this single call for information to reduce the number of requests.”

The recipient corporations have been asked to respond within four months. The information received will be summarized in various reports and these will be distributed to participating institutional investors and companies that respond to the questionnaire. These reports will be made publicly available in September.

Canadian signatories include: Acuity Investment Management Inc., BMO Financial Group, BC Investment Management Corp., Canada Pension Plan Investment Board, CI Mutual Funds Signature Funds Group, CIBC, Hospitals of Ontario Pension Plan, Meritas Mutual Funds, Ontario Municipal Employees Retirement System, Ontario Teachers Pension Plan, Real Assets Investment Management Inc., Scotiabank, The Ethical Funds Company and Vancity Group of Companies.