Half of key suppliers to companies signed up to a major supply chain responsibility programme failed to respond to requests for climate information, a new report has revealed.
CDP, formerly the Climate Disclosure Project, asked for information related to sustainability from the suppliers of the 75 major purchasing multinationals it works with, including L’Oreal, Coca-Cola and Goldman Sachs. However, of the almost 8,000 suppliers asked to provide climate-related information, almost half failed to respond at all.
“These are the key suppliers for some of the world’s largest corporations,” Dexter Galvin, head of CDP’s supply chain programme, told BusinessGreen. “In light of the Paris Agreement, we think that there’s very significant risk in corporate supply chains from suppliers who have no awareness of climate risk at the moment.”
However, of the suppliers that did reply, almost three-quarters admitted that climate change presents risks that could significantly impact their business. Climate regulation was identified as the major risk, with the most commonly cited consequences being fuel, energy and carbon taxes.
“Collaboration between companies and their suppliers is crucial when it comes to understanding climate risks and opportunities and is key to building inclusive, resilient, and transparent global supply chains,” said Aron Cramer, president and chief executive of sustainability consultancy BSR, partner on the report, in a statement.
CDP also announced that starting from next year's report it will begin to rank companies on management of carbon and climate change across their supply chains, in order to allow multinationals to benchmark their performance and drive improvements.
“Too few companies are engaging their supply chains on climate and it’s important that more and more have an understanding of what their suppliers are doing on this,” said Galvin.
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