Securing the Planet’s Future

Merrill Lynch sponsors Carbon Disclosure Project in Japan—hosts annual announcement of global survey findings

The Carbon Disclosure Project (CDP), sponsored globally by Merrill Lynch, is a non-profit initiative launched by the world’s institutional investors to encourage corporations to disclose their environmental impacts. Consisting largely of an in-depth annual survey, CDP announces its results in key cities around the globe.

CDP recently came to Tokyo to unveil its findings to Japanese corporations, investors, political leaders, academics, media and others. The 2008 survey featured data collected from 3,000 of the world’s largest corporations, including for the first time Chinese and Korean enterprises.

The most recent survey—which had a high 80 percent response rate—showed that corporate commitment to environmental issues remains strong, despite the recent economic turmoil. Businesses increasingly accept climate change and are determined to take actions to slow its progress. Most businesses disclose their activities in this area

Solid Japanese commitment
Seventy four percent of Japanese corporations contacted by the CDP responded to the questionnaire this year. And 95 percent of those survey participants reported their greenhouse gas emissions in 2008.

In Tokyo, we welcomed over 180 attendees at this year’s CDP announcement event. Merrill Lynch also sponsored similar events in New York, Hong Kong, and London.

Because of record levels of interest, Merrill Lynch and CDP decided to move the event to large premises this year—staging the announcement at Keidanren Hall. Jason Brand, president of Pacific Rim, delivered opening remarks, saying, “The risks of climate change and the effect it has on markets are too great to ignore.” Brand stressed Merrill’s own efforts in the field of environmental preservation and committed the firm to doing even more going forward. “Merrill Lynch will continue to work closely with organizations like the CDP,” he said.

Representatives from Japan’s Ministry of Environment as well as the Ministry of Economy, Trade and Industry also delivered keynote speeches.

Because of record levels of interest, Merrill Lynch and CDP decided to move the event to large premises this year—staging the announcement at Keidanren Hall. Jason Brand, president of Pacific Rim, delivered opening remarks, saying, “The risks of climate change and the effect it has on markets are too great to ignore.” Brand stressed Merrill’s own efforts in the field of environmental preservation and committed the firm to doing even more going forward. “Merrill Lynch will continue to work closely with organizations like the CDP,” he said.

Representatives from Japan’s Ministry of Environment as well as the Ministry of Economy, Trade and Industry also delivered keynote speeches.

At a later panel discussion about corporate disclosure, Zoe Knight, Merrill Lynch’s London-based social responsibility analyst, joined government, investor, and corporate leaders to talk about growing recognition of these topics in the market. “Investors increasingly see a company’s greenhouse gas emissions as off-balance-sheet liabilities. They are watching carefully how and to what extent businesses make impact disclosures,” she said.

Audience interest was keen—during the almost three-hour event none of the 180 attendees left the hall. Takejiro Sueyoshi, chairman of CDP Japan, spoke passionately in closing. “Even though the economy is in turmoil and financial crises threaten, don’t allow this issue to decline in importance. The steps we take today will have great importance to the planet and our quality of life over the next decade.”