The non-profit works at the intersection where industry meets climate issues and natural resources. “By leveraging market forces including shareholders, customers and governments, CDP has incentivized thousands of companies and cities across the world’s largest economies to measure and disclose their environmental information,”
(CDP is an initialism for the organization’s former name: the Carbon Disclosure Project.)
As Christiana Figueres, UNFCCC executive secretary, makes clear in a video on the CDP site, “whether it is avoiding a physical loss of assets, eventually paying out for liabilities that we’re incurring today, or the risk of stranded assets in the transition to a low emission economy, disclosures help investors make informed decisions about what to include in their portfolios.”
It’s no wonder then that IFF proudly announced in a press release this week that the company “ranked among the top 5% of the corporations participating in the program.”
IFF highlighted some of its other sustainability accolades in the release:
- Gained industry-leading membership in the Together for Sustainability sustainable sourcing initiative
- Achieved For Life social responsibility certification for Turkish Rose, Patchouli, Basil, and Vetiver
- Met and surpassed initial 2020 water reduction goal of 25 %; reset goal to 50% by 2020
- Achieved Roundtable on Sustainable Palm Oil (RSPO) Certification for multiple facilities
- Joined the World Business Council for Sustainable Development (WBCSD)
- Installed the industry’s largest solar array
- Awarded LEED Silver certification for Indonesia Flavors plant
More often than not now, it’s common practice for large corporations to charge its leadership with the responsibility of managing carbon emissions and related issues.
According to the CDP, 75% of companies on its A list offer incentives for climate change management and 94% have board level oversight. “When it comes to sustainability, we won’t accept the status quo,” says Andreas Fibig, CEO and chairman of IFF, in the press release.
He adds that sustainability is an important aspect of IFF’s business practices and corporate culture. “This honor confirms we are on the right path in our overall sustainability journey, and we will continue our efforts to reduce carbon emissions across our value chain,” says Fibig.
IFF earned a position on the organization’s A list, in the materials category. Symrise AG and Givaudan SA also made the list.
Criteria for gaining a spot on the A list are based on the CDP’s multifaceted evaluation system and can be seen in the group’s full 2015 global climate change report.
“We congratulate the A List companies that are illuminating the path to a low carbon future through their climate leadership,” says the CDP’s executive chairman and co-founder Paul Dickinson. He adds that, “the momentum of business action on climate change suggests we are reaching a tipping point where companies are poised to achieve their full potential.”
And while through the efforts of the CDP, investor attention looks to be moving the needle, “[companies] need ambitious policy at both a national and international level that will support them in this regard and will catalyze participation from industry at scale,” emphasizes Dickinson.