Finnair again achieved an excellent score in the Carbon Disclosure Project (CDP) Nordic Report 2012, earning a rating of 92 out of 100, making it one of the annual survey’s top companies as well as the first airline ever to place in the CDP’s Leadership Index.
The CDP is the operator of the world’s only global climate change reporting system, gathering data on behalf of 655 institutional investors globally representing in excess of US $78 trillion in assets. Finnair has participated in the CDP since 2007.
Finnair was commended for its efforts to substantially reduce greenhouse gas emissions, improve reporting capabilities, and recognise the strategic business risks and possibilities associated with climate change.
“In the aviation business, a very energy and capital intensive sector, efficiency is essential for creating shareholder value. For us, reducing carbon emissions in all our operations is also good business. As fuel accounts for almost one third of our annual cost base, every drop saved translates into an appreciable gain for the company. Placing in the CDP’s Leadership Index is a great recognition of our long withstanding work in promoting energy efficient flying”, says Mika Vehviläinen, CEO.
Steven Tebbe, Managing Director for CDP Europe, commented “Global aviation contributes at least 3 per cent to man-made GHG emissions. Given the nature of the aviation business, it is particularly difficult to find low carbon alternatives. We therefore welcome the leadership that Finnair has taken on this issue not only within its sector, but even compared to other industries. In order to decouple economic growth from GHG emissions growth we need to accelerate innovation. CDP is here to help these emerge.”
Since 1999, Finnair has reduced its emissions per seat by a quarter. By 2017, the airline is committed to further reducing its emissions per seat by 24 per cent from 2009 levels. In pursuit of this goal, the company follows a four-pillar strategy: technological advancement, operational improvement, infrastructure development, and support for a global emissions trading scheme.
More than 4,000 organizations in 72 countries measure and disclose their greenhouse gas emissions, water management and climate change strategies through the Carbon Disclosure Project, an independent, not-for-profit NGO that assists companies in setting reduction targets and making performance improvements. CDP caters to the needs of the investor community, who’se members use the data provided by CDP for ranking, scoring and screening companies, in the creation of indices and in assessing investments’ long term risks and possibilities associated with climate change.
CDP data is available through numerous providers including Bloomberg and Thompson Reuters.
More details and further discussion of Finnair’s carbon disclosure and emissions reductions activities are available in the airline’s 2011 Sustainability Report, available at http://www.finnairgroup.com/responsibility/index.html.
CDP Nordic Report 2012 is available at https://www.cdproject.net/CDPResults/CDP-Nordic-260-Climate-Change-Report-2012.pdf
More information on CDP is available at https://www.cdproject.net/en-US/Pages/HomePage.aspx
Finnair Plc Communications