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CEO Note: A world first on methane
Albert Heijn, the largest retailer in The Netherlands, has disclosed that methane accounted for approximately 14% of its total climate pollution last year as part of its Scope 3 emissions. This marks a first for major supermarkets, contradicting previous industry claims that such calculations were too complex. The author calls for Ahold Delhaize to extend this disclosure to its US-based brands and urges retailers to implement concrete reduction strategies, such as promoting plant-based alternatives and requiring suppliers to set methane targets.
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Document type: Statement
FROM RISK TO REWARD: Accelerating corporate action in the palm oil sector
The document introduces a report focusing on the actions of companies involved in the Indonesian palm oil value chain, utilizing data from CDP's global disclosure platform to help investors and purchasing organizations drive accountability and deforestation-free outcomes.
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Document type: Report
Glencore’s corporate reporting regarding coal: potential legal risks
ClientEarth has alerted Glencore and its investors to potential legal risks arising from the company's 2016 corporate reporting. The organization contends that Glencore's assertions—specifically that its coal assets will not become stranded and that demand will continue to grow—ignore critical market trends and independent analyses. ClientEarth highlights that the omission of disruptive factors, such as the rise of renewables and peaking demand in China, could be viewed as reckless or fraudulent under the UK's Financial Services and Markets Act 2000, potentially granting shareholders the right to claim compensation for losses.
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Document type: Statement
The Climate Accountability Scorecard
The report evaluates the climate risk disclosure practices of several major fossil fuel companies, including Arch Coal, BP, Chevron, ConocoPhillips, CONSOL Energy, ExxonMobil, Peabody Energy, and Royal Dutch Shell. It scores companies across four categories: regulatory risks, physical risks, market/indirect risks, and corporate governance. While most companies provide detailed analysis of regulatory risks, the report finds widespread failures in disclosing the specific role of climate change in physical risks and a near-total absence of disclosure regarding corporate governance on climate issues.
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Document type: Report
Marathon Petroleum Letter 2-25-15 JC 2
Investors and the Union of Concerned Scientists (UCS) are calling on Marathon Petroleum to improve its public disclosures regarding the physical risks of climate change. They argue that the company's SEC Form 10-K filings fail to address the vulnerability of coastal refineries to sea level rise and storm surges, despite evidence of past disruptions and scientific projections for the Gulf of Mexico.
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Document type: Statement
Valero Letter 2-25-15 JC 2
A letter from investors and the Union of Concerned Scientists (UCS) to Valero Energy Corporation requesting the disclosure of physical climate risks at its coastal refineries. The authors argue that Valero has failed to report material risks related to sea level rise and storm surge in its SEC Form 10-K filings, despite the vulnerability of facilities in Texas and Louisiana and previous disclosures made by the former owner of the Meraux refinery.
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Document type: Statement
Tricks of the Trade
The report analyzes 1,824 public responses to a 2013 CDP questionnaire to reveal that many companies fail to disclose their influence on climate policy through trade associations. It finds that companies often hold climate positions inconsistent with the associations they fund or lead, yet struggle to influence those groups' agendas. The authors argue that current U.S. laws allow corporations to obstruct climate action without accountability and call for the SEC to mandate the disclosure of both direct and indirect political activities.
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Document type: Report