Trending...
- Disappointment and Hope after U.N. General Assembly Wraps, says AHF
- HAWAIIAN ELECTRIC INVESTOR DEADLINE APPROACHING: Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Hawaiian Electric To Contact Him Directly To Discuss Their Options
- New Rochelle: Queen City of the Sound International Jazz Festival
NEW YORK ~ A new research conducted by Clarity AI, the leading sustainability technology platform, has revealed discrepancies in one in five companies between their reported CDP data and the emissions data reported in their own sustainability reports.
The study encompassed around 1,500 data points from more than 850 companies that disclosed climate data to the CDP in 2022. It was found that one in every five companies had different GHG emissions values in the CDP questionnaire and their Annual or Sustainability reports. 10% of the discrepancies were smaller than a 10% difference, while roughly 20% of instances showed significant variations of over a 50% difference.
The research indicates that external verification is key to ensuring asset managers have access to trustworthy data. The discrepancy rate drops from 27% for non-verified companies to 15% for verified companies. Discrepancies were found to be more prevalent in emerging economies compared to Europe and North America, with Asia exhibiting higher discrepancy rates (31%) compared to ~14% in Europe and North America.
More on Nyenta.com
Patricia Pina, Head of Product Research and Innovation at Clarity AI said: "As the world transitions to a low-carbon economy, investors recognize the need to incorporate environmental, social, and governance (ESG) factors into their investment decisions. The widely recognized Carbon Disclosure Project (CDP), which runs a global disclosure system, plays a key role in ensuring the availability of accurate data for Greenhouse Gas (GHG) emissions."
She added: "Despite the advancements and great progress in GHG emissions disclosure, some challenges around data quality still remain. Corporates are navigating a number of known reporting challenges but it is critical that asset managers have access to trustworthy data; they need confidence and consistency in the GHG emissions data they use."
According to Clarity AI's research on 1,500 data points from more than 850 companies that disclosed climate data to the CDP in 2022, one fifth of them had discrepancies between their reported CDP data and emissions data reported in their own sustainability reports. These differences were attributed mainly due to human errors when reporting or inconsistent reporting methodologies such as only reporting headquarters' emissions instead of full emissions. External verification was found as key for asset managers having access to reliable information with discrepancy rate dropping from 27% for non-verified companies to 15% for verified ones. Discrepancies were also more prevalent among emerging economies such as Asia with 31%, compared with 14% from Europe and North America combined.
The study encompassed around 1,500 data points from more than 850 companies that disclosed climate data to the CDP in 2022. It was found that one in every five companies had different GHG emissions values in the CDP questionnaire and their Annual or Sustainability reports. 10% of the discrepancies were smaller than a 10% difference, while roughly 20% of instances showed significant variations of over a 50% difference.
The research indicates that external verification is key to ensuring asset managers have access to trustworthy data. The discrepancy rate drops from 27% for non-verified companies to 15% for verified companies. Discrepancies were found to be more prevalent in emerging economies compared to Europe and North America, with Asia exhibiting higher discrepancy rates (31%) compared to ~14% in Europe and North America.
More on Nyenta.com
- Tint World® adds fifth New York location with New Hyde Park
- Global Luxury Value Exchange, Idoneus, Transitions to 100% IDON Transactions
- Winners of the 2023 Gerald Loeb Awards Announced by UCLA Anderson at New York City Event
- Labaton Sucharow LLP Announces Expanded Securities Class Action Lawsuit Filed Against RTX Corporation and Certain Executives
- Employment Advocacy Appoints 1st African-American, Female Board President
Patricia Pina, Head of Product Research and Innovation at Clarity AI said: "As the world transitions to a low-carbon economy, investors recognize the need to incorporate environmental, social, and governance (ESG) factors into their investment decisions. The widely recognized Carbon Disclosure Project (CDP), which runs a global disclosure system, plays a key role in ensuring the availability of accurate data for Greenhouse Gas (GHG) emissions."
She added: "Despite the advancements and great progress in GHG emissions disclosure, some challenges around data quality still remain. Corporates are navigating a number of known reporting challenges but it is critical that asset managers have access to trustworthy data; they need confidence and consistency in the GHG emissions data they use."
According to Clarity AI's research on 1,500 data points from more than 850 companies that disclosed climate data to the CDP in 2022, one fifth of them had discrepancies between their reported CDP data and emissions data reported in their own sustainability reports. These differences were attributed mainly due to human errors when reporting or inconsistent reporting methodologies such as only reporting headquarters' emissions instead of full emissions. External verification was found as key for asset managers having access to reliable information with discrepancy rate dropping from 27% for non-verified companies to 15% for verified ones. Discrepancies were also more prevalent among emerging economies such as Asia with 31%, compared with 14% from Europe and North America combined.
Filed Under: Business
0 Comments
Latest on Nyenta.com
- Captivate Partners With the American Psychological Association to Enhance Mental Health Content
- The Conference Board Named to Crain's 100 Best Places to Work in New York City
- Do Grandparents Make Good Parents?
- Investment and Risk Management Expert Robert Litterman Named to CDC Foundation Board
- Genpact Integrates riskCanvas with Amazon Bedrock to Transform Financial Crime Management with Advanced Generative AI Capabilities USA - English APAC - English
- Coty Inc. Announces Pricing of Global Offering and Admission to Listing and Trading of Class A Common Stock on the Professional Segment of Euronext Paris
- Put a Pocket On It: Christian Cowan and Candy Crush Saga Enhance Silhouettes with Launch of Attachable Pockets to Solve Age-Old Fashion Dilemma
- Cleveland Broadband Selects Axiros' AXESS 5 ACS Software for Advanced Gigabit Internet Service
- SILICON MOTION SHAREHOLDER NOTICE: Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Silicon Motion To Contact Him Directly To Discuss Their Options
- Coexilia Leads the Charge in Cybersecurity Evolution with Groundbreaking AI Research Publication
- Erik Sussman Selected to Appear on Spotlight Television
- KBRA Mourns the Passing of Valued Mentor and Friend, Alan S. Bernikow
- Green Office Partner Ranks on the Inc. 5000 Annual List of the Fastest Growing Companies in America
- Lambda Legal Celebrates 50 Years Advancing The Civil Rights of LGBTQ+ People and Everyone Living With HIV; Commits to Being "Unstoppable" Ahead
- Office Calgary Inc, announces office expansion plans
- United Nations Receives Vital Education Rankings: NJ MED's 3rd Quarter Education Report
- 10-4Gear.Com Launches Exclusive Police Challenge Coins
- CCG Releases State Guide on 'Execution of Insurance Policies'
- UNITE HERE Releases Real Estate Runaround: How Brookfield's Insurance Venture Offers Reward for Investors, Risk for Retirees
- Rochester: – Final Food Truck Rodeo at the Market is Tonight