Telstra's climate change leadership no flash in the pan
Today Telstra's leadership in dealing with climate change was internationally recognised with its inclusion in the Carbon Disclosure Project's Climate Leadership Index, for the third year running.
The Carbon Disclosure Project surveys the world's largest corporations on their leadership in management and disclosure of climate change issues and greenhouse emissions. Its assessments are provided to the investment community in the global market place. Chloe Munro, Executive Director of Innovation Projects for the Digital Future, who leads Telstra's Climate Change program says the Project's recognition of Telstra is well earned.
"Results like those Telstra has achieved are not a flash in the pan - they are the result of a long term, consistent development of the framework for reporting on Telstra's carbon emissions, as part of the company's commitment to tackling climate change," said Ms Munro.
Dr Karl Mallon, leading climate change expert and Director of Climate Risk Pty Ltd, provides his thoughts on the significance of the Carbon Disclosure Project:
"Anyone who thinks that climate change is just a ‘green’ issue will have a stark wake-up when they look at the newly released Carbon Disclosure Project report for Australia and New Zealand. Why? Because this report is commissioned by institutional investors worth US$57 trillion and they are asking hard questions about climate change risk management. Clearly this volume of capital goes well beyond sustainable investment, it represents main-stream investors wanting to know how vulnerable their investments are to regulation to curb carbon pollution, what strategies companies have to adapt to a low carbon economy and what assets are exposed to climate change impacts like sea-level rise and bush-fire.
"Three quarters of ASX 100 companies responded to the questionnaire and the report makes some very sober reading. Over 90% of ASX100 companies believed they were exposed to climate change regulation, yet only 40% were actively forecasting future energy use and emissions. So we have pilots of commerce seeing some turbulence ahead, but not yet knowing where and how they will hit the storm, and not yet let alone plotting a safe course through. Investors could be forgiven for being less than impressed.
"As we predicted in the Telstra commissioned Towards a High-Bandwidth, Low-Carbon Future (www.telstra.com.au) report last year, telecommunications companies are starting to emerge as leaders in the field. Why, because in a carbon constrained world telecommunications companies provide accessible, affordable low carbon options for businesses and individuals. As governments put in carbon constraints and price signals to force changes in behaviour, many behaviour changes will involve telecommunication networks - telework, video conferencing, shopping online, smart energy efficient home and offices - all network intensive low-carbon solutions.
"Of course the markets and share-prices may not reflect the findings of the Carbon Disclosure Project overnight, but beneath the surface these big institutional investors are making long term strategic decisions. Far from green veneer and they will be looking for companies that will be strong and prosperous in thirty or more years when they have to pay our pensions. This report indicates that the Australian companies have lots of hard work ahead to get themselves into shape for climate change."
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