10 October 2008 | Paul Snell
UK firms are devoting "significant resources" to measuring carbon emissions in their supply chains, which is in turn putting them among the world leaders in disclosure.
According to a review of FTSE350 firms, commissioned by the Carbon Disclosure Project (CDP), while UK firms only make up 7 per cent of the "Global 500" list of companies, they account for 22 per cent of the list of companies rated best at reporting their emissions.
However, the not-for-profit group said the focus on suppliers was possibly motivated as much by the potential for cost savings as reducing their environmental impact.
"The volume of companies responding - including many taking a lead on addressing the implications of supply chain emissions - underlines the fact that despite economic conditions, UK companies are integrating the value and cost of climate change into the long-term strategic plan for their business," said Richard Gledhill, partner at PricewaterhouseCoopers, who produced up the study.
Among the firms leading the way in reporting emissions were AstraZeneca, BHP Billiton, Tesco and Centrica.
The report also showed that while 90 per cent of the FTSE100 responded to the request for details of carbon emissions, response rates fell to 58 per cent among FTSE 250 firms. The overall response rate for the FTSE350 was down from 70 per cent last year to 67 per cent in 2008. The CDP said this could be attributed to the number of new companies entering the list.