OUR BURNING PLANET: OP-ED: Full Disclosure: What SA’s top 10 greenhouse gas emitters are doing about climate risks By Brandon Abdinor
“The Truth about South African Banks’ and Companies’ Ability to Identify and Address Climate Risks,”
So, in the absence of tight regulation, the climate conscience of a corporation will be set by its people. Shareholders, boards and executive management will determine and implement policy and practices that either place the business as clinging on to what is known as the “brown economy”, or as a visible aspirant to operate in the “green economy” and display responsible corporate citizenship. Civil society and the market will score the performance.
It must be borne in mind that the report talks specifically to what has been disclosed by the companies, and it may well be that what is being disclosed is not the same as what is happening behind closed doors. But given that nine out of the 10 companies are publicly listed, and the other is an SOE, disclosure arguably forms a fundamental tenet of ecological accountability.
The share of the emissions drops dramatically as we go through the remainder of the rankings: ArcelorMittal , South32 , Anglo American , PPC , Sappi , African Rainbow Minerals , Exxaro and Gold Fields .Eight of the 15 companies disclosed clear board accountability for climate risk. Two companies left this in the hands of management and/or committees, and in five cases it was unclear where responsibility for assessing and managing climate risk resided.
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