Outokumpu Featured in Climate Disclosure and Performance Partnership Indexes
This year, Outokumpu is included in the Climate Disclosure Leadership Index (CDLI) for the fourth consecutive year, and for the first time Outokumpu has achieved a position in Climate Performance Leadership Index (CPLI). Only 5 out of the 260 Nordic listed companies feature in the performance index CPLI, where Outokumpu was the only materials sector company.
Outokumpu’s overall rating improved to score 92 (84 in 2012), maintaining Outokumpu’s position in the CDLI. This year, in addition, Outokumpu achieved performance band A (B in 2012), a prerequisite for a position on the CPLI, which is based on a number of criteria associated with measuring, verifying and managing carbon footprints.
Says Tuomas Haikka, vice president of sustainability at Outokumpu said, “We are extremely pleased with CDP’s recognition of both our disclosure and performance on climate change. We have reduced carbon footprint of our main products by some 50% since the 1990s. This equals some 6.2 million tons of CO2 reduction with 2012 annual production. After 2010 we have been able to reduce Outokumpu’s carbon profile by 8.5%. Our current target now is to achieve a further 20% reduction by 2020. The development is based on high utilization rate of recycled steel, improvements in energy efficiency, the use of low-carbon energy sources and continuous process improvements in production.”
The CDP represents 722 institutional investors with US$87 trillion in assets under management and the index provides an evaluation tool for institutional investors. CDP’s annual Nordic climate change report is based on the analysis of the responses to its questionnaire which focused on greenhouse gas emissions, emissions reduction targets and risks and opportunities associated with climate change. Altogether 26 companies of the 260 Nordic stock exchange listed companies participating in the review were included in the Climate Disclosure Leadership Index and five in the Climate Performance Leadership Index.