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VicSuper Carbon Counts 2009
01 February 2010
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Key Findings
- Companies listed in the ASX200 emitted 268.7 million tonnes (Mt) of CO2-e. This is an increase of 25.3 million tonnes since last year. The 10.4% rise is due to a rise in direct and indirect emissions.
- 150.6 Mt CO2-e were directly due to companies' fuel combustion and industrial processes. Under the GHG Protocol, these are known as direct "Scope 1" emissions.
- The Metals & Mining sector contributed most to the increase in direct emissions. This sector has seen a 28% rise in its direct emissions since 2007, and a 34% increase since 2006.
- 10 out of 49 sectors emitted 96% of direct emissions: Metals & Mining, Airlines, Oil, Gas & Consumable Fuels, Multi-Utilities, Construction Materials, Chemicals, Food & Staples Retailing, Construction & Engineering, Road & Rail, and Industrial Conglomerates.
- 99 companies in the ASX200 directly emitted more than 25,000 tonnes of CO2-e. Facilities with emissions of over 25,000 tCO2-e in Australia could be covered by the CPRS from 2011 onwards. The scheme would apply a carbon price to direct emissions.
- Indirect emissions totalling 118.1 Mt CO2-e were from direct (first-tier) suppliers.
- Electricity purchases accounted for 73 Mt CO2-e emitted, up from 62.2 Mt CO2-e in 2007.
Extract
VicSuper has again commissioned Trucost to profile the GHGs emitted by the largest public Australian companies, those listed in the S&P ASX200 index. The analysis looks at the potential financial implications of carbon costs for companies and sectors. The 2009 analysis builds on findings in the VicSuper Carbon Count 2008 report. In particular, the 2009 edition analyses the changes in corporate disclosures and performance across the full three-year period of collaboration between Trucost and VicSuper. This analysis covers corporate disclosure and emissions between 2006 and 2008.
Why did VicSuper commission the research?
VicSuper, with the support of the Environment Protection Authority (EPA) Victoria, has commissioned Trucost to examine the greenhouse gas emissions and risk exposure of companies in the S&P ASX200. This is the third VicSuper Carbon Count report, and findings show an increase in greenhouse gas emissions since the first report in 2007, underlining the contribution of businesses to a wider trend of rising emissions.
Understanding the variations in carbon performance among companies within each sector will become increasingly important to investors. Standardised, quantitative corporate data on greenhouse gas emissions is important to enable investors to address climate change risks and opportunities.
This analysis therefore aims to:
- Quantify the amount of greenhouse gases emitted by companies in the S&P ASX200, for fiscal year 2008.
- Identify changes in disclosure levels and carbon intensities between 2006 and 2008.
- Assess financial risk from carbon costs among companies in carbon-intensive sectors.
Report image: Carbon performance of ASX200 companies
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