The Carbon Disclosure Project (CDP) has awarded Finnair a position on The A List: The CDP Climate Performance Leadership Index 2014, for actions to reduce carbon emissions and mitigate the business risks of climate change.
The index presents 187 listed companies identified as demonstrating a superior approach to climate change mitigation. The A List is compiled by CDP, an NGO that provides the only global environmental reporting system at the request of 767 investors who represent some US$92 trillion in assets, or more than a third of the world’s invested capital.
Information provided by nearly 2,000 listed companies has been independently assessed against CDP’s widely-respected scoring methodology and ranked accordingly. Finnair is the only airline awarded an A grade for its climate performance, earning a position on this global ranking of corporate efforts to mitigate climate change.
“Aviation is an extremely energy- and capital-intensive sector, and our advanced capacity to measure and disclose information relating to this intensity allows us and our shareholders not only to understand Finnair’s climate impact but take steps to actively mitigate it while also controlling costs,” says Finnair CEO Pekka Vauramo. “This recognition from CDP shows that we are determined to proactively meet a commercial and regulatory landscape that is rapidly being transformed by climate change.”
“Global greenhouse gas emissions continue to rise and we face steep financial risk if we do not mitigate them,” says CDP CEO Paul Simpson. “The business case for action to mitigate climate change has never been stronger or more urgent. For this reason we congratulate those businesses that have achieved a position on The A List: The CDP Climate Performance Leadership Index. These companies are responding to market demand for environmental accountability and at the same time are making progress towards the realization of sustainable economies.”
Finnair is on track to reduce per-seat CO2 emissions by 24 percent between 2009 and 2017. The airline’s actions to reach this target and improve its environmental performance include:
Flying with a modern, fuel-efficient fleet. In 2013 Finnair was the global launch customer of Airbus A321 with fuel-saving Sharklets and next year will be the European launch customer of the next-generation A350XWB, which will be approximately 25 per cent more fuel-efficient (and less carbon intensive) than the previous generation of aircraft.
- Strict “weight watching” of aircraft, including flying with ultra-light ULDs (unit load devices, or cargo containers) that save more than 2.5 million kg of CO2 emissions every year.
- Continuous Descent Landings and other operational measures to limit fuel consumption and CO2 emissions.
- Exploring the development (with partners in the value chain) of a biofuel hub at Helsinki Airport
- In 2013, consolidating its offices and moving to a new LEED Platinum-certified head office near Helsinki Airport.
CDP performance scores provide a tool for institutional investors and stakeholders to evaluate and track corporate efforts to mitigate climate change. Scores are communicated to investors and other decision makers through various channels, including Bloomberg terminals, to help them assess corporate preparedness for changing market demands and emissions regulation.
The A List: CDP Climate Performance Leadership Index 2014, along with the climate disclosures of all companies publicly taking part in CDP’s climate change program this year, is available on CDP’s website.
CDP is an international, not-for-profit organization providing the only global system for companies and cities to measure, disclose, manage and share vital environmental information. CDP works with market forces, including 767 institutional investors with assets of US$92 trillion, to motivate companies to disclose their impacts on the environment and natural resources and take action to reduce them. CDP now holds the largest collection globally of primary climate-change, water and forest risk commodities information and puts these insights at the heart of strategic business, investment and policy decisions.