TUI praised for transparency over climate change to investors
UK-based company TUI Travel has received a top score for the information it discloses to its investors about climate change and has been the only firm of its kind to feature in the UK Climate Disclosure Leadership Index (CDLI) by carbon disclosing organisation CDP.
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TUI has often hit the headlines for its sustainability initiatives, from offering ethical holidays to cutting carbon emissions from its aircraft by 15% over the last five years.
Its Dutch branch also won last year’s World Responsible Tourism Awards for its work against sexual exploitation of children in Brazil.
Now the company has also appeared in the CDLI, which has been released by the CDP (formerly Carbon Disclosure Project). The index ranks companies according to their transparency in disclosing climate risks and information, as well as measures to cut emissions.
Paul Simpson, CEO of CDP, commented, “Global greenhouse gas emissions continue to rise and we face steep financial risk if we do not mitigate them. The need for data on corporate climate change impacts and strategies to reduce them has never been greater. For this reason we congratulate those businesses that have achieved a position on CDP’s Climate Disclosure Leadership Index. These companies are responding to the ever-growing demand for environmental accountability and should inspire others to follow suit.”
Johan Lundgren, deputy chief executive, commented, “We are thrilled to have been awarded full marks in the Climate Disclosure Leadership Index. We are committed to providing a lasting legacy of reducing our carbon emissions and as a business, we wholeheartedly recognise our responsibility and the importance of accurate and transparent carbon reporting to all our stakeholders.”
Previous analysis by the CDP suggested that companies taking action on climate change and disclosing information on it enjoy higher returns on investment (ROI) and lower volatility of earnings.
Photo: Pieter v Marion via Flickr
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