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23rd February 2018
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Travis Perkins Group recognised as most improved in sector for Corporate Action on Deforestation
For addressing the challenge of removing deforestation from its supply chain, the Travis Perkins Group has been recognised as the most improved company from 2013 in Industrials & Autos in CDP's 2014 global forests report, 'Deforestation-free supply chains: From commitments to action.'
The report looks at the disclosures from 152 companies from around the world, representing a market capitalisation of over US$3 trillion, which responded to the investor call for transparency and accountability on deforestation and forest-risk commodities. The report has been produced on behalf of 240 investors who together represent US$15 trillion in assets by CDP, the international NGO that drives sustainable economies.
The report recognises those companies that have made continuous improvements along the journey from commitment to action. This is in the context of the goal of removing deforestation from agricultural supply chains by 2020, launched as part of the landmark New York Declaration on Forests this September. Given the urgency of this challenge, fast-paced change in corporate practices is to be celebrated.
Jez Cutler, Head of Group Environment, The Travis Perkins Group, comments: "We are delighted to be recognised as the most improved company in our industry in reducing reliance on forest risk commodities in supply chain.
"This is a result of our continuous efforts to improve environmental excellence and sustainability throughout our organisation and our activities. We will continue to aim for further improvements and transparency as well as engagement with important organisations such as the CPD who support this agenda."
Companies identified as the most improved in their sector are those that have made the biggest improvement in their total score from 2013 to 2014. Scores are awarded on CDP's respected scoring methodology, publicly available on www.cdp.net and updated every year.
The major driver of global deforestation comes from the demand for four critical agricultural commodities - cattle products, palm oil, timber products and soy. These commodities feature in the supply chains of countless companies across sectors varying from food to fuel. The resulting deforestation is itself a key driver of climate change, accounting for some 15% of the world's greenhouse gas emissions - equivalent to the emissions from the entire transport sector.
Paul Simpson, Chief Executive Officer at CDP, says: "Companies that regularly respond to CDP's forests programme are now identifying many more of the opportunities available to them, including securing their supply chain against the risks associated with deforestation and commodity sourcing. This in turn is helping to secure shareholder value.
"Different parts of the supply chain are moving at different rates to tackle this issue. What is clear is that leading companies, as identified by CDP, are those that are bringing their supply chains with them on this journey."
The Report 'Deforestation-free supply chains: From commitments to action', is available on CDP's website at:
21st November 2014