Elkem achieves A rating from CDP, ranking among the world's leading companies on climate transparency and action
STOCKHOLM, Dec. 8, 2020 /PRNewswire/ -- Elkem, one of the world's leading suppliers of silicon-based advanced materials, has been selected for the CDP's A List on climate change, which showcases the companies leading on environmental transparency and action. Out of the 5,800+ companies scored by CDP, just the top 5% made the climate change A List this year.
CDP is a not-for-profit charity that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts. It is widely recognised as the global benchmark for corporate environmental transparency. This is Elkem's first year of CDP Climate reporting. Elkem plans to report on CDP water security in 2021.
The A List companies are considered to be leaders because of their transparent and comprehensive disclosure of climate data, thorough awareness of climate risks, demonstration of strong governance and management of those risks, and demonstration of market-leading best practices.
Dexter Galvin, Global Director of Corporations & Supply Chains at CDP, said: "This week marks exactly five years since global leaders shook hands on the Paris Agreement. It's encouraging that 70% more companies are now reporting on their environmental action than in 2015, and that, this year, over 300 have reached the A List. Congratulations to these leaders - through their action and transparency they are getting ahead of the pack and will seize the benefits as we transition to a net-zero sustainable economy. CDP data shows growing environmental awareness among the business world in 2020, which is hugely positive considering the unprecedented challenges business and society have faced this year. We have the wind in our sails. Now, we need these pioneers to inspire the sluggish majority of corporates if the private sector is to take a leadership role when climate targets ratchet up at COP26 next year. The race is on."
The companies are scored based on CDP's transparent scoring methodology covering: comprehensive disclosure of environmental impacts, risks, opportunities, governance and actions; awareness of environmental risks and how they relate to their business; demonstrating management of these environmental risks and evidence of best practice associated with environmental leadership.
"This A rating from CDP on climate is a strong confirmation of Elkem's position as one of the world's leading companies in the environmentally responsible manufacture of metals and materials. It also serves as an inspiration to continue improving further. Climate change mitigation and adaptation is important in our business strategy and essential to secure our license to operate. We also see that it is increasingly important for our stakeholders - including employees, customers, suppliers, governments and capital markets - and we will continue to step up our efforts as we position for the future," says Michael Koenig, CEO of Elkem.
About CDP scores
The full methodology for the CDP scores is transparent and available on CDP's website at: https://www.cdp.net/en/guidance/guidance-for-companies
About CDP
CDP is an international non-profit that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. Voted number one climate research provider by investors and working with institutional investors with assets of US$106 trillion, we leverage investor and buyer power to motivate companies to disclose and manage their environmental impacts. Over 9,600 companies with over 50% of global market capitalization disclosed environmental data through CDP in 2020. This is in addition to the hundreds of cities, states and regions who disclosed, making CDP's platform one of the richest sources of information globally on how companies and governments are driving environmental change. CDP is a founding member of the We Mean Business Coalition. Visit cdp.net or follow us @CDP to find out more.
For more information:
Odd-Geir Lyngstad, VP Finance & Investor Relations
Tel: +47 976 72 806
Email: odd-geir.lyngstad@elkem.no
Fredrik Norman, VP Corporate Communications & Public Affairs
Tel: +47 918 66 567
Email: fredrik.norman@elkem.no
About Elkem
Founded in 1904, Elkem is one of the world's leading suppliers of silicon-based advanced materials with operations throughout the value chain from quartz to specialty silicones, as well as attractive market positions in specialty ferrosilicon alloys and carbon materials. Elkem is a publicly listed company on the Oslo Stock Exchange (ticker code: ELK) and is headquartered in Oslo. The company has more than 6,700 employees with 31 production sites and an extensive network of sales offices worldwide. In 2019 Elkem had revenues of NOK 22.7 billion. To learn more, please visit www.elkem.com
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