CDP 2010 Sector Report Consumer Discretionary
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Transcript of CDP 2010 Sector Report Consumer Discretionary
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8/8/2019 CDP 2010 Sector Report Consumer Discretionary
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1
Consumer Discretionary sector report
Covering Global 500, S&P 500and FTSE 350 respondents
IntroductionIn the 10 years since the launch ofthe Carbon Disclosure Project (CDP),the quality and quantity of reportingon climate change have increaseddramatically. This year, CDPbacked by534 institutional investors representingmore than US$64 trillion of funds under
managementsent questionnaires tomore than 4,700 of the worlds largestcorporations requesting information ongreenhouse gas (GHG) emissions, thesignificant risks and opportunities relatedto climate change, and the actionscompanies are taking to manage thoserisks and opportunities. The results arepublished in more than 20 geographiesaround the world and are freely availableat www.cdproject.net. Individualcompany responses to CDP can also beviewed on the same Web site.
This sector report, prepared byPricewaterhouseCoopers LLP (PwC),1summarizes responses to the 2010Carbon Disclosure Project InformationRequest from Consumer Discretionary2companies in the FTSE Global EquityIndex Series (Global 500), Standard &Poors 500 Index (S&P 500), and theFTSE 350 Index (FTSE 350).
Representing one of the most diversesectors, Consumer Discretionaryconsists of a wide variety of industriesthat provide nonessential goods
and services for consumers. Thisyear, the respondents are primarilyfrom the following industries: 10
Automobiles respondents (9%);20 Hotels, Restaurants & Leisurerespondents (18%); 15 HouseholdDurables respondents (13%); 25 Mediarespondents (22%); and 18 SpecialtyRetail (16%) respondents. Despite theincrease in sector size this year from156 to 166 companies, the overallresponse rate increased only marginally,from 66% (103) to 68% (113).
Figure A: Respondents by industry
1 Please see the Important Notice on the back cover o this report regarding its content and use.
2 Responses to CDP 2010 are grouped according to the Global Industry Classiication Standard (GICS).
3 Based on market capitalization available rom Thomson Reuters as o May 15, 2010.
4 Percentage o respondents that reported emissions and total disclosed emissions or the sector. Scopes 1, 2 and 3 emissionsare terms used under the GHG Protocol. For a ull description see: GHG Protocol: A Corporate Accounting and ReportingStandard, available at www.ghgprotocol.org/iles/ghg-protocol-revised.pd.
5 Gross Scope 2 emissions represent the sum o all grid averages, not adjusted or contractual arrangements.
Response rate for Consumer Discretionary overall: 68% (113 of 166)
Household Durables
11% (18)
12% (20) 9% (15)
6% (10)
15% (25)
15% (25)
32% (53)
Automobiles
Hotels, Restaurants & Leisure
Media
Did not respond
Specialty Retail
Other
Figure B: Consumer Discretionary emissions disclosure4(t CO2-e)
(85% disclosed)
Scope 1 emissions 45,468,267
(85% disclosed)
Scope 2 emissions5 58,051,552
(53% disclosed)
Scope 3 emissions 259,552,148
Largest non-respondents3 include: Amazon.com, Comcast, and DIRECTV Group
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Views on and responses to climatechange vary widely based on theunique characteristics of the underlying
industry. Some industries, such asHotels, Restaurants & Leisure andSpecialty Retail, view climate-relatedrisks as longer-term risks; others, suchas those in the Household Durables,Leisure (e.g., travel companies), and
Automobiles industries already aresubject to various air pollution andproduct efficiencies standards globally.While those companies report increasedcosts for compliance, most also reportthat those regulations are also drivinginnovations as they seek to provideincreasingly low-carbon or energy-efficient products to meet increasingregulatory standards.
Despite all of the varying views, allConsumer Discretionary companiesare generally more susceptible thanare other sectors to branding concernsand changing consumer preferences.Consumer Discretionary respondentsconsistently report that an increasinglyeducated consumer is leading toincreasing reputational risks andpressure to provide ecofriendly productsat affordable prices. Respondentsreveal the steps they are beginningto take to enhance their images,including via implementation of variousinitiatives to reduce their emissions andmaintaining active communication withtheir customers and investors so as tohighlight their climate change strategies.
Disclosure trends in theConsumer Discretionary
sectorEmissions disclosure continues toimprove in 2010.There is a notablerise in the number of ConsumerDiscretionary respondents disclosingemissions. Eighty-six percent (90)of respondents disclosed Scope 1emissions in 2010, up from 81% (83)in 2009. Scope 2 emissions disclosureincreased three points to 85% (89). Asconsumers continue to place increasingpressure on companies to demonstrateresponsible carbon management, it
is likely more companies will measuretheir emissions. Some respondents,such as News Corporation, indicatethat understanding their own carbonfootprints is key to demonstratingleadership and responsibility.
Disclosure of Scope 3 remains relativelyflat in 2010, at 52% (55), compared with53% (54) in 2009. Ninety-four percent othe total disclosed Scope 3 emissionsinvolve Sold Goods & Services, of whichthe majority are from companies in the
Automobiles and Household Durables
(e.g., home appliance and electronics)industries. However, it can be expectedthat Scope 3 emissions reported bythese industries will continue to growas ability to measure them increases,because fewer than 10 companiesdisclosed 99% of the Sold Goods &Services total emissions.
2
Carbon Disclosure Project
Over time, it is alsopossible that guestpreerences and
expectations couldshit as a result oclimate changedriving a need or newmerchandise oeringsand base expectations oreputational leadership inthe retail industry.
Target
Toyota MotorCorporation hasormulated the FourthToyota Environmental
Action Plan... in order torealize the corporateimage that Toyota seeksto pursue a leaderand driving orce inglobal regeneration by
implementing the mostadvanced environmentaltechnologies.
Toyota
All Carbon DisclosureProject reportsare available atwww.cdproject.net
Figure C: Consumer Discretionary carbon disclosure leaders
Company name
News Corporation
TJX Companies
Panasonic
TUI Travel*
Kingisher
Johnson Controls
Carbon disclosure score
94
94
90
90
87
87
Carbon performance score
A
C
A
B
A
A
*Company has been in at least one o the Global 500, the S&P 500, or the FTSE 350 CDLIs or the past three consecutive years.
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3
Consumer Discretionary Sector Repor
Some companies note their intentto more actively assess their supplychain emissions, such as Ford Motor,which is road testing the draft Scope 3
standard
6
as well as working with its keysuppliers through CDPs Supply ChainProgram.
Fords contributions will be to requestdata from selected Tier 1 production
suppliers, representing close to30% of Fords $65 billion in annual
procurement spending, and to providefeedback on practical aspects of usingthe protocol. Ford has also joined theCarbon Disclosure Projects SupplyChain initiative. Through this effort Ford
is working with selected suppliers to
gather qualitative as well as quantitativeinformation about the suppliers climaterisks and emissions and how they aremanaging them.Ford Motor
The Consumer Discretionary sectorcontinues to face an increasingnumber of product efficiency andemissions standards globally. Sixty-two percent (65) of respondents in theConsumer Discretionary sector identifyregulatory risks as the most significantarea of risk they are facing today. The
highest proportions of respondents arereporting from the Automobiles andthe Auto Components industries eachat 100% (9 and 4, respectively) andHousehold Durables at 86% (12).
These respondents currently are subjectto regulatory risks globally, includingfuel efficiency and emissions standardsfor Automobile companies such as the
European Unions (EUs) Regulation443/2009;7 product efficiency standardson home appliances, electronics, andother household items such as JapansEnergy Conservation Law;8 home-building efficiency standards such as theUK Code for Sustainable Homes;9 andvarious pollution standards for thosecompanies in the Hotels, Restaurants& Leisure industry that providetransportation services such as cruisesand air travel.
Many Consumer Discretionaryrespondents expect thatenvironmental performance willbecome increasingly important totheir overall reputation. Fifty-sevenpercent (60) of Consumer Discretionaryrespondents report other types of risks,of which the majority have to do withchanging consumer preferences andreputational risks. Most report thatreputational risks and market demandswill place significant pressures on theproducts they deliver or the servicesthey provide as consumers becomeincreasingly educated about climatechange and as regulations increase.
6 For urther inormation on the World Resources Institute/World Business Council or Sustainable DevelopmentsScope 3 Greenhouse Gas Reporting Protocol,see www.ghghprotocol.org.
7 See http://ec.europa.eu/environment/air/transport/co2/co2_home.htm.
8 See http://www.japans.org/en/pages/027112.html.
9 See http://www.communities.gov.uk/publications/planningandbuilding/codeguide.
10 The counts and percentages reported in this chart arebased on total population or the Consumer Discretionarysector, or 166 invited companies. All other trends citedin the analysis are based on total respondents who werescored and analyzed.
Figure D: Year-over-year disclosure levels for the Consumer
Discretionary sector10
0% 20% 30%10% 40% 50% 60% 70%
55% (85)
55% (91)
Disclose GHG emissions
35% (55)
32% (53)
Disclose emissions reduction targets
28% (44)
22% (37)
Verify emissions
47% (73)
49% (82)
Board or executive-level oversight
Responded
66% (103)
67% (112)
Publicly available
46% (71)
47% (78)
Report on GHG emissions in annual corporate reporting
55% (86)
54% (89)
2010 2009
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Sixty-five percent (13) ofrespondents in the Hotel,Restaurants & Leisure industryreport they may be increasingly
impacted by physical risks. While thetime scale is reported to be uncertain,many respondents note the potentialimpacts from changing weatherpatterns and reduced water availability.Resorts in many high-tourism locationsare susceptible to extreme weatherevents, in particular increased hurricaneactivity. Restaurant respondentsindicate that changing weather patterns,including droughts and increases intemperature, could have potentialimpacts on crop harvests.
The increased frequency and severityof droughts around the world...will have significant impacts on the
agriculture and food supply chainsDarden depends upon. Losses ofcrops or livestock from extremeweather phenomena, such as stormsor droughts, represent a businesscontinuity risk for Dardens supply chain.In fact, historically, drought has beenone of the largest contributing factors tofood cost increases.Darden Restaurants
2010 Carbon PerformanceScoreIn the 10 years that CDP has monitored
disclosure practices, corporate activityhas advanced to a stage where analysisof performance can aid investors whowant to identify leading companies incarbon management. In 2009, CDPpiloted a performance component in aneffort to respond to investor requests fosuch analysis.
This year all companies with carbondisclosure scores greater than 50receive banded carbon performancescores, with respondents groupedinto one of four categories.11 Carbondisclosure scores lower than 50 do notnecessarily indicate poor performance;rather, they indicate insufficientinformation to evaluate performance.
A listing of companies and their scoresis included in the appendix at the endof this report.
4
Carbon Disclosure Project
Figure E: Table of Carbon Performance Score Band A companies in the
Consumer Discretionary sector
Company name
BMW Bayerische Motoren Werke
Johnson Controls
Kingisher
News Corporation
Panasonic
Toyota Motor
Carbon disclosure score
78
87
87
94
90
80
Index
Global 500
Global 500, S&P 500
FTSE 350
Global 500, S&P 500
Global 500
Global 500
Externally there isincreasing pressure bystakeholdersincluding
customers, investors, themedia, and interestedbodies such as NGOs[nongovernmentalorganizations]toprovide transparentevidence o genuinelysustainable carbonmanagement that hasparticular relevanceto brand value. Poor
environmental practicesand/or management bysuppliers could also posereputational and inancialrisks i these were notcareully managed by TUITravels engagement withsuppliers.
TUI Travel
11 For urther inormation on the carbon perormance score methodology, including descriptions o the perormance bands,see www.cdproject.net.
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Consumer Discretionary Sector Repor
Figure F: Range of carbon performance scores by key industries
While six companies, listed in FigureE, achieved A scores for performance,the Consumer Discretionary sectorgenerally lags in performance incomparison to most other sectors,
demonstrating below-average resultsfor nearly all performance metrics.Within the sector, there is a broadrange of carbon performance scores;however, the Automobiles and AutoComponents industry consistentlydemonstrate the highest performanceacross all areas, resulting in 3 of the 6companies achieving Band A. This isreflective of the amount of regulationthese companies are already facingas well as the number of actions thecompanies are taking.
While the level of oversight ishigh, most respondents indicatethat climate change priorities arenot integrated into their overallcompanies strategies. Seventy-eight
percent (82) of Consumer Discretionaryrespondents have board oversightor executive-level responsibility fortheir climate change initiatives, with
Automobiles companies having thehighest proportion, at 100% (9).
Figure G: Carbon performance scorecard
Performance scorecard
Strategy
Integration o climate change risks or opportunities
into overall business strategy
Implementation o emissions reduction targets
Governance
Board or executive-level oversight
Monetary incentives
Stakeholder communications
Verifcation o emissions
Disclosure o climate change inormation in
mainstream flings or other external communications
Achievements
Progress toward meeting targets
Signifcant emissions reduction in the past year
All sectors
44%
57%
82%
40%
46%
50%
46%
19%
0 5 10 15 20 25
Insufficient disclosure to evaluate performance Band CBand D Band B Band A
1
1 9 4 19
1723
776
261
1175 1
Household Durables
Media
Specialty Retail
Hotels, Restaurants & Leisure
Automobiles
Consumer
Discretionary
39%
50%
78%
38%
32%
50%
40%
22%
...The commitmentrom the board tobecome an increasingly
environmentallyresponsible organisationhas resulted in total andspeciic GHG emissionreductions becominga [key perormanceindicator] and bonus-related driver or certainmembers o sta.
N Brown Group
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Carbon Disclosure Project
6
The high target of the Japanesegovernment and the rising concernfor climate change in the international
community are predicted to lead toa large expansion in demand for anenergy systems business, includingthe manufacture of new devicesto develop smart grids; of energy-creating devices such as solar cells;of energy-storing devices such as
rechargeable batteries; and of otherproducts and systems. Panasonicsees its energy systems business asa flagship business of the group, withsales targets of 850 billion yen in fiscal2013 and a business scale of morethan 3 trillion yen in fiscal 2019.
Panasonic
Increased consumer awarenessof climate change has positively
affected consumer demand for more-
fuel-efficient vehicles with low CO2emissions, particularly in the US andEU. Currently, such change benefitsHyundai Motor because many of our
models have top-class fuel efficiency.Large fleet buyers in the EU andthe US are also showing increased
preference for more-fuel-efficientmodels as well.
Hyundai Motor
Whirlpool believes in takingresponsibility for the totalenvironmental impact of its products
from their development to disposal.Whirlpool has helped US homeowners reduce their appliance energyconsumption by more than 70%
since the 1970s and continuallyexplores ways to reduce indirectemissions from the amount of energythat appliances consume over their
lifetimes.
Whirlpool
Examples of climate innovation
Innovation and carbonopportunities
Seventy-six percent (80) of
Consumer Discretionaryrespondents identify opportunitiesfrom climate change, with 63% (66)viewing regulation as an opportunitythat can provide competitiveadvantage. Consumer Discretionaryrespondents perceive a high costassociated with regulatory compliance;however, they also indicate thatregulation often drives innovation withinthe products they produce. Especiallyamong those in the Automobilesindustry, many companies recognizenot only the existence of current
regulations such as the US CorporateAverage Fuel Economy standards,12 butmore important, that those regulationswill become increasingly strict in thefuture.13 Automobile companies report
significant investments in the researchand development of technologiesto meet standards in both the nearand longer terms. Hyundai Motor
reports investing 2.2 trillion KRW[USD1.8 billion] in the developmentof environmentally friendly vehicles,
including hybrid electric vehicles,electric vehicles, and hydrogen fuel cellelectric vehicles... [and] 1.4 trillion KRW
[USD1.2 billion] for development of fuel-efficiency-improvement technologiesfor conventional vehicles. In theshorter term, automobile companiesare focused more on improving fuelefficiency and emissions outputthrough improved aerodynamics andinvestments in hybrid technologies;
longer term, these companies reportsignificant investment in developingtechnologies to produce vehiclesultimately with zero emissions througheither electricity, fuel cells, or otherpotential energy sources.
We know that international regulatorystandards and labeling schemes willimmediately become more stringent inthe future, and therefore our internal
product efficiency standards will haveto become more and more stringentParticularly in markets where carbon-dioxide (CO2)-based motor vehicle taxes
apply, Efficient Dynamics gives theBMW Group a considerable competitive
advantage and also benefits customers.In these countries, running costs forBMW Group vehicles are much lowerthan those of comparable models...BMW Bayerische Motoren Werke
12 Corporate Average Fuel Economy standards were enacted in 1975 and aimed to reduce energy consumption via cars and light trucks.
For more inormation, see http://www.nhtsa.gov/uel-economy.
13 The US Corporate Average Fuel Economy standard is set at 27.5 miles per gallon or passenger vehicles currently; however,President Obama has proposed raising this standard to 35.5 miles per gallon by 2016.
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Consumer Discretionary Sector Repor
7
Companies in the ConsumerDiscretionary sector are benefitingfrom government incentivesavailable in various countriesaround the world to promote salesof lower-carbon products. In theUS, the Cash for Clunkers programsignificantly boosted sales of fuel-efficient cars.14 In Japan, the Eco-ActionPoints Program enables consumers toaccumulate points toward the purchaseof energy-efficient products; the pointscan then be used for purchasing otherproducts and services.15
Companies in the service- relatedindustries are leveraging theirclimate change initiatives toenhance their reputations. Somelike Carnival Corporation, MarriottInternational, and Starbucksareengaging directly with their customers inorder (1) to highlight the actions theyvetaken to reduce their own emissionsand (2) to educate their customers onhow to reduce their energy usage. Thestronger performance of the sectorin this area is likely due to the higherlevel of importance of reputation andbranding. At the industry group level,77% (10) of Automobiles & AutoComponents companies, 58% (14)of Media companies, and 58% (11)
of Consumer Durables & Apparelcompanies report climate changeinformation in formal externalcommunications. Given the importanceof outreach activities to a companysreputation, it is not surprising that half ofthe sector report active communicationof their climate-related information (52).
14 The Consumer Assistance to Recycle and Save Act o 2009, also known as the Cash or Clunkers program, provided credit or
consumers who traded in old vehicles or the purchase or lease o new vehicles in transactions that occurred rom July 1 toAugust 24, 2009. See www.cars.gov.
15 See http://eco-points.jp/index.html.
Fiat brand, with 127.8grams o CO2 perkilometer, is already inline with the Europeanaverage target. Theresult is that today, Fiat
is a leader in Europe orthe lowest average CO2emissions among thetop sellers.
Fiat
Amidst risingexpectations regardingbusiness action
and accountability,ailure to maintain ourleadership position inaddressing the issueso climate changeand environmentalsustainability couldnegatively impactMarriotts reputation,brand, and competitiveadvantage in the hotel
and lodging industry.
Marriott International
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Setting targets and takingaction on climate change
The proportion of respondents with
emissions reduction targets hasdeclined slightly from 55 (53%) to53 (50%). The industry groups withthe highest proportion of respondentsreporting targets are Automobiles &Components and Media, with 85% (11)
and 58% (14), respectively. Less thanhalf of all other industry groups in theConsumer Discretionary sector reporthaving current emissions reduction
targets in place.Consumer Discretionaryrespondents focus on operationalefficiencies to reduce emissionsand cut costs.The majority of
actions disclosed by respondents areoperational efficiencies, including bothenergy and water usage. While manycompanies lack sophisticated systems
to track and monitor progress againstformal targets, several respondentsreport they have implemented variousreduction activities at the site level.
Figure H: Examples of targets and actions
Company name
BMW BayerischeMotoren Werke
(Automobiles)
Johnson Controls(Consumer Durables)
News Corporation(Media)
Target
Reduce Scopes 1 and 2emissions by 30% from 1990
baseline by 2020.Reduce Scopes 1 and 2emissions by 30% from 2006baseline by 2012.
Reduce Scope 3 emissionsby 25% from 2008 baselineby 2020.
Reduce Scopes 1 and 2emissions by 30% from 2002baseline by 2012.
Reduce Scopes 1 and 2emissions by 30% from 2008baseline by 2018.
Reduce Scopes 1, 2, and 3emissions by 100% from 2010baseline by end 2010.
Actions
Groupwide energy efficiency project, including the use oftrucks with higher fuel efficiency and lower CO2 emissions as
well as rail transportation for business travel.Expanded the capacity and improved the efficiency of thelandfill gas project at a US plant.
Installed 70 solar panels on the roof of a particular plant toheat the water needed for its paint shop.
Developed an adhesive that replaces the previously necessary120-degree Celsius heat-drying process and implementing theprocess at various plants.
The global headquarters campus includes Wisconsinslargest solar photovoltaic field (31,115 square feet), reducinggreenhouse gas emissions by 1.1 million pounds per year
while generating electricity for the site. Laminatedmorethan14,000squarefeetofthin-film
photovoltaic cells to the roofing membrane of onebuilding to generate electricity and fulfill nearly allhot water needs.
Installedskylightsandincreasedwindowspacetoreduce the use of indoor lighting.
Usesextensivegeothermalheatingandcooling. Drilled272wellstoaccommodateaclosed-loop
system that supplies the heat pumps in the building,thereby reducing winter heating costs by about29% versus current natural gas boilers.
Otheremissionreductioninitiativesincludeinstallingpower management systems, retrofitting electronic
lighting ballasts and lamps, and training employeesabout energy efficiency.
Conducted energy audits at 95% of its properties.
Procured green power and reduced power loads in low-demand periods.
Expanded usage of digital transmitters across all stations,representing a more-energy-efficient transmission technologythan analog transmitters.
Investment in more hybrid and low-emission vehicles.
Carbon Disclosure Project
8
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Please reer to the Key at the end o the Appendix or urther explanation o the abbreviations used.
Appendix:
Consumer Discretionary scores and emissions by company
Auto Components
Denso
GKN
Goodyear Tire & Rubber
Johnson Controls
Automobiles
BMW Bayerische Motoren Werke
Daimler
Fiat
Ford Motor
Harley-Davidson
Honda Motor Company
Hyundai Motor
IMI
Nissan Motor
Toyota Motor
Volkswagen
Distributors
Genuine Parts
Inchcape
Pepsi Bottling Group (see PepsiCo)
Diversified Consumer Services
Apollo Group
DeVry
Dignity
H&R Block
Hotels, Restaurants & Leisure
888 Holdings
Carnival Corporation
Compass
Darden Restaurants
Dominos Pizza
Enterprise Inns
Fuller Smith & Turner
Greene King
G
F3
S
G, S
G
G
G
G, S
S
G
G
F3
G
G
G
S
F3
S
S
S
F3
S
F3
F3, G, S
F3
S
F3
F3
F3
F3
AQ
AQ
AQ
AQ
AQ
AQ
AQ
AQ
IN
AQ
AQ
AQ
AQ
AQ
AQ
NR
AQ
AQ(SA)
NR
NR
AQ
AQ
NR
AQ
AQ
AQ
AQ
AQ
NR
AQ
NR
AQ
NR
AQ
AQ
AQ
AQ
AQ
NR
AQ
AQ
AQ
AQ
AQ
AQ
DP
AQ(L)
AQ
DP
X
AQ
AQ
AQ
AQ
AQ
AQ
DP
AQ
X
AQ
15
58
52
87
78
75
80
63
62
73
45
66
80
77
34
66
25
80
57
84
46
36
66
-
C
C
A
A
B
B
B
B
B
-
C
A
B
-
D
-
C
C
C
-
-
C
NP
NP
NP
NP
NP
NP
NP
NP
1,677,888
1,205,293
2,571,811
4,849,719
1,550,000
1,985,624
90,322
7,334,000
6,516,034
23,372
10,317,221
87,421
1,100,436
70,948
245,281
502,582
357,793
549,608
1,623,551
1,280,000
700,800
24,322
2,910,000
1,510,950
15,005
10,264,098
79,542
349,647
36,092
49,778
1,175,310
847,500
2,022,200
3,226,170
270,000
1,284,820
66,000
4,424,000
5,005,080
8,367
53,123
7,879
750,789
34,856
195,503
54,359
1,850,010
190,000
72,499
635,342
7,832,710
43,105
5,610
27,836^
Tr
Tr TSP USP
S1 TSP
TSP
Tr TI TSP
Tr USP
Tr S1 TI
Tr
Tr EC Wa Oth
Com
pany&Industry
Inde
x1
2010
responsestatus12
2009
responsestatus
Carb
ondisclosurescore
Carb
onperformancescore
Non-public
Tota
lemissions3
Scope1
Scope2gridaverage4
Scope35
Scope3sourcetype
9
Some o the igures in this report have been updated since the initial response analysis and may thereore dier rom data in the main report contents.
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Holidaybreak
Intercontinental Hotels Group
International Game Technology
Ladbrokes
Marriott International
Marstons
McDonalds
Millennium & Copthorne Hotels
Mitchells & Butlers
Partygaming
Punch Taverns
Rank Group
Restaurant Group
Starbucks
Starwood Hotels & Resorts Worldwide
Thomas Cook Group
TUI Travel
Wetherspoon
Whitbread
William Hill
Wyndham Worldwide
Wynn ResortsYum! Brands
Household Durables
Aga Rangemaster Group
Barratt Developments
Bellway
Berkeley Group Holdings
Black & Decker (see Stanley Works)
Bovis Homes Group
D.R. Horton
Eaga
Fortune Brands
Harman International Industries
Leggett & Platt
LennarNewell Rubbermaid
Pace
Panasonic
Persimmon
Pulte Homes
Redrow
Sony Corporation
Stanley Works
Taylor Wimpey
Whirlpool
F6
F3
S
F3
S
F3
G, S
F3
F3
F3
F3
F3
F3
G, S
S
F3
F3
F3
F3
F3
S
SG, S
F6
F3
F3
F3
S
F3
S
F3
S
S
S
SS
F3
G
F3
S
F3
G
S
F3
S
AQ
AQ
IN
AQ
AQ
AQ
AQ
DP
AQ
DP
AQ
NR
DP
AQ
AQ
AQ
AQ
AQ
AQ
DP
NR
NRAQ
AQ
DP
AQ
AQ
AQ(SA)
AQ
NR
AQ
IN
NR
AQ
DPAQ
AQ
AQ
AQ
AQ
AQ
AQ
AQ
NR
AQ
X
AQ
NR
AQ
AQ
AQ
AQ
DP
AQ
NR
AQ
NR
NR
AQ
AQ
AQ
AQ
AQ
AQ
NR
IN
DPIN
X
X
AQ
AQ
AQ
AQ
NR
NR
IN
NR
AQ
DPNR
X
AQ
AQ
AQ
NR
AQ
AQ
X
AQ
68
54
50
64
43
15
32
48
52
76
71
90
67
69
63
65
51
71
50
47
21
56
66
90
62
43
69
81
71
54
C
C
B
B
-
-
-
-
C
B
B
B
B
C
B
B
C
C
D
-
-
D
C
A
C
-
C
B
C
C
NP
NP
NP
NP
NP
NP
10,837
9,200,000
54,206
2,449,916
78,918
186
912,853
2,480,781
4,368,785
6,402,202
137,071
207,713
26,000
4,119
6,236
1,786
18,495
3,310,869
10,422
7,603
1,743,212
209,553
819,654
5,281
4,600,000
1,340
456,979
78,918
104
228,742
532,423
4,322,907
6,297,794
46,711
50,879
12,500
1,805
2,828
940
16,625
758,053
7,444
6,244
368,277
76,514
223,199
5,556
4,600,000
52,866
1,992,940
82
684,111
1,948,360
45,878*
104,408
90,360
156,834
13,500
2,314
3,408
846
1,870
2,552,820
2,978
1,359
1,374,940
133,039
596,455
762
837,319
8,910^
234,501
0^
925^
821
418
64,782,000
23,630,000
7,138
121,361,000^
Tr
Tr Fe
Tr EC EA USPOth
Tr Wa
Oth
Tr
Tr
Tr
TSP USP
Tr TI USP
Tr
EA USP
Company&Ind
ustry
Index1
2010response
status2
2009response
status
Carbondisclos
urescore
Carbonperform
ancescore
Non-public
Totalemissions
3
Scope1
Scope2gridav
erage4
Scope35
Scope3source
type
Carbon Disclosure Project
10
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8/8/2019 CDP 2010 Sector Report Consumer Discretionary
11/15
Appendix
11
Internet & Catalog Retail
Amazon.com
Expedia
Home Retail Group
N Brown Group
Priceline.com
Leisure Equipment & Products
Eastman Kodak
Hasbro
Mattel
Media
Aegis Group
British Sky Broadcasting
CBS
Comcast
Daily Mail & General Trust
DIRECTV Group
Euromoney Institutional Investors
Gannett
Inorma
Interpublic Group o Companies
ITV
Johnston Press
McGraw-Hill
Mecom Group
Meredith
Naspers
New York Times
News Corporation
Next
Omnicom Group
Pearson
Reed Elsevier
Rightmove
Scripps Networks Interactive
Thomson Reuters
Time Warner
Time Warner Cable
Trinity Mirror
United Business Media
UTV Media
Viacom
Vivendi Universal
Walt Disney Company
Washington Post
WPP
Yell
G, S
S
F3
F3
S
S
S
S
F3
F3, G
S
G, S
F3
G, S
F3
S
F3
S
F3
F6
S
F6
S
G
S
G, S
F3
S
F3
F3
F3
S
G
G, S
G, S
F3
F3
F6
G, S
G
G, S
S
F3
F3
DP
NR
AQ
AQ
NR
AQ
NR
AQ
NR
AQ
NR
IN
AQ
NR
AQ
DP
AQ
AQ
AQ
AQ
AQ
AQ
AQ
AQ
AQ
AQ
AQ
AQ
AQ
AQ
NR
AQ
AQ
NR
DP
AQ
AQ
AQ
AQ
AQ
AQ
NR
AQ
AQ
NR
NR
AQ
AQ
X
AQ
DP
AQ
AQ
AQ
AQ
IN
AQ
NR
AQ
NR
AQ
AQ
AQ
X
AQ
X
AQ
X
AQ
AQ
AQ
AQ
AQ
AQ
NR
NR
AQ
AQ(L)
X
AQ
AQ
AQ
AQ
AQ
AQ
IN
AQ
AQ
71
86
61
41
83
25
61
63
20
37
28
71
30
36
41
4
94
81
45
69
77
13
50
55
61
71
23
78
53
65
62
B
B
C
-
B
-
C
C
-
-
-
C
-
-
-
-
A
B
-
C
B
-
D
C
B
C
-
C
C
C
C
NP
NP
NP
NP
NP
NP
NP
NP
NP
NP
276,400
12,323
193,317
134,604
84,840
2,803
40,252
147,549
44,215
597,087
161,392
194,634
143,748
64,294
6,033
3,714
247,969
1,496,786
166,696
28,405
126,000
2,909
15,553
24,945
16,193
216
14,656
50,135
6,824
86,008
64,196
45,524
18,587
10,390
650
1,015
27,614
543,226
6,282
492
150,400
9,414
177,764
109,659*
68,647
2,587
25,596
97,414
37,391
511,079*
97,196
149,110
125,161
53,904
5,383
2,699
220,355
953,560
160,414*
27,913
7,000
5,967^
8,884
3,886
199,708^
44,735
131,286
35,940^
32,624^
11,427
116
6,855
112,488
141,261
Tr
Tr EC Wa Oth
Tr TSP Wa
Tr
Tr TI
Tr
Tr
Tr Wa Oth
Tr EC Oth
Tr EA TSP
Tr
Tr
Tr
Tr DSP S1
Company&Ind
ustry
Index1
2010response
status2
2009response
status
Carbondisclos
urescore
Carbonperform
ancescore
Non-public
Totalemissions
3
Scope1
Scope2gridav
erage4
Scope35
Scope3source
type
-
8/8/2019 CDP 2010 Sector Report Consumer Discretionary
12/15
Carbon Disclosure Project
12
Multiline Retail
Big Lots
Debenhams
Family Dollar Stores
J.C. Penney
Kohls
Macys
Marks & Spencer Group
Mothercare
Nordstrom
PPR
Sears Holdings
Target
Specialty Retail
Abercrombie & Fitch
AutoNation
AutoZone
Bed Bath & Beyond
Best Buy
Carpetright
Carphone Warehouse
DSG International
Fast Retailing
Galiorm
Game Group
GameStop
Gap
H&M Hennes & Mauritz
Halords Group
HMV Group
Home Depot
Inditex
Kesa Electricals
Kingisher
Limited Brands
LowesOReilly Automotive
Oice Depot
RadioShack
Richemont
Ross Stores
Sports Direct International
Staples
Tiany & Co.
TJX Companies
WH Smith
S
F3
S
S
G, S
S
F3
F3
S
G
S
G, S
S
S
S
S
G, S
F3
F3
F3
G
F3
F3
S
G, S
G
F3
F3
G, S
G
F3
F3
S
G, SS
S
S
G
S
F3
G, S
S
G, S
F3
IN
AQ
IN
AQ
AQ
AQ
AQ
AQ
AQ
NR
AQ
AQ
AQ
NR
NR
IN
AQ(L)
NR
AQ
AQ
NR
DP
DP
NR
AQ
AQ
IN
DP
AQ
AQ
NR
AQ
AQ
AQAQ
AQ(L)
NR
AQ
NR
DP
AQ(L)
AQ
AQ
AQ
AQ
AQ
DP
AQ
AQ
AQ
AQ
AQ
AQ
DP
AQ
AQ
NR
NR
NR
AQ
AQ
NR
NR
NR
NR
X
NR
NR
AQ
AQ
NR
NR
AQ
AQ
AQ
AQ
AQ
AQX
AQ
NR
AQ
X
DP
AQ
AQ
IN
AQ
67
59
58
47
69
58
72
61
66
24
55
52
32
51
52
37
66
87
67
7811
67
46
72
94
63
C
C
C
-
B
C
C
C
C
-
C
D
-
C
C
-
C
A
C
C-
B
-
B
C
C
NP
NP
NP
NPNP
NP
NP
184,781
1,173,946
861,838
652,000
33,160
3,454,280
3,027,914
28,754
553,379
250,152
335,226
489,000
346,504
384,610
32,274
813,026
18,811
78,727
28,004
221,000
8,160
877,581
310,277
25,657
11,951
24,591
129,000
33,673
49,310
1,311
48,393
165,970*
1,095,220
833,834
431,000
25,000
2,576,700
2,717,640
28,754
527,722
238,201
310,635
360,000
312,831
335,300
30,963
764,633
4,091
139,578
195,001
36,000
1,432
45,388
148,007
42,060
123,082^
483,564
94,100
10,209
Tr AS Wa
Tr TI
Tr TSP
Tr Wa
Tr
TSP
Tr TSP
TSP
Tr TI TSP WaOth
Tr TSP
TSP
Tr
Company&Ind
ustry
Index1
2010response
status2
2009response
status
Carbondisclos
urescore
Carbonperform
ancescore
Non-public
Totalemissions
3
Scope1
Scope2gridav
erage4
Scope35
Scope3source
type
-
8/8/2019 CDP 2010 Sector Report Consumer Discretionary
13/15
Appendix
13
Textiles, Apparel & Luxury Goods
Burberry Group
Christian Dior
Coach
Hermes International
LVMH
NIKE
Polo Ralph LaurenTed Baker
V.F. Corporation
F3
G
S
G
G
G, S
SF6
S
AQ
NR
NR
NR
AQ
AQ(L)
DPAQ
AQ
AQ
X
DP
DP
AQ
AQ
DPX
DP
58
75
42
52
80
C
B
-
D
B
NP
26,321
253,390
76,110
274,321
2,165
48,723
72,339
24,156
204,667
76,110
201,982
1,770
544,413^
43,071
14,664
Tr
Tr AS TI TSPWa Oth
Tr Oth
Tr
Company&Ind
ustry
Index1
2010response
status2
2009response
status
Carbondisclos
urescore
Carbonperform
ancescore
Non-public
Totalemissions
3
Scope1
Scope2gridav
erage4
Scope35
Scope3source
type
1 This table also includes companies rom the FTSE All-Share Index who responded to the 2010 Inormation Request.While their scores and emissions inormation is included here, they are not included in the analysis o the report.
2 Those companies marked AQ(L) in 2010 submitted responses ater the analysis cut o date o July 1, 2010.These companies responses are not included in the analysis o this report.
3 Scopes 1 and 2 grid average reported emissions.
4 Where there is a * in this column, the company did provide detail in relation to its contractual Scope 2 emissions.Please reer to the companys response.
5 Where there is a ^ in this column the company provided an Other Scope 3 source type which was adjusted tobe included in one o the main Scope 3 source types.
-
8/8/2019 CDP 2010 Sector Report Consumer Discretionary
14/15
Index:F3 FTSE 350
F6 FTSE All-Share
G Global 500
S S&P 500
Key:
AQ Answered questionnaire
SA Company is either asubsidiary or has mergedduring the reporting process.See company in bracketsor urther inormation oncompanys status
AQ(L) Answered questionnaire late
IN Provided inormation
DP Declined to participate
NP Answered questionnaire but
response not made publiclyavailable
NR No response
Company did not meet carbondisclosure score threshold o50 to receive carbonperormance score
X Company did not all intoone o the CDP samples inthat year
* Company provided a igureor scope 2 contractarrangements
These companies markedAQ in 2010 submitted theirresponse on time, butcould not be included inthe analysis o this reportdue to technical issues.
Company answered in theirlocal language and could notbe scored or the purposes o
this report. Reer to theCDP 2010 Japan 500report or the companyscarbon disclosure score andcarbon perormance score.
companies markedAQ in 2010 submitted theirresponse on time, butcould not be included in
Scope 3 source key:
S1 Purchased goods andservices - direct/tier 1
supplier emissions
AS Purchased goods andservices - emissions oall upstream suppliers - tier 1and beyond
EA Energy-related activities notincluded in Scope 2
Eq Capital equipment
TI Transportation and distributiono inputs (goods and
services) and waste generatedin own operations
Tr Business travel
Wa Waste generated in operations
Fr Franchises (Scope 1emissions o the ranchisor)
Lr Leased assets (Scope 1
emissions o the lessor)
In Investment (Scope 1
emissions o the companyreceiving investment)
Fe Franchises (Scope 1emissions o the ranchisee)
Le Leased assets (Scope 1emissions o the lessee)
TSP Transportation and distributiono sold products includingwarehousing and retail
USP Use o sold goods and
services
DSP Disposal o sold products atthe end o their lie
EC Employee commuting andteleworking
Oth Other
Carbon Disclosure Project
14
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8/8/2019 CDP 2010 Sector Report Consumer Discretionary
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Report Writer Contacts
CDP Board of Trustees
PricewaterhouseCoopers LLP1, Embankment PlaceLondon, WC2N 6RH
United KingdomTel: + 44 (0) 20 7583 5000Fax: + 44 (0) 20 7822 4652
Alan McGillPartner
Richard GledhillPartner
Malcolm PrestonPartner
PricewaterhouseCoopers LLP300 Madison Avenue24th Floor
New York, NY 10017United States o AmericaTel: +1 (646) 471 4000Fax: +1 (813) 286 6000
Liz LoganPartner
Kathy NielandPartner
Contact details can be ound atthe ollowing web address:
http://pwc.com/sustainability
Important Notice
The contents o this report may be used by anyone providing acknowledgement is given to Carbon Disclosure Project. This does not represent a license to repackage or
resell any o the data reported to CDP and presented in this report. I you intend to do this, you need to obtain express permission rom CDP beore doing so.
PwC and CDP prepared the data and analysis in this report based on responses to the CDP 2010 inormation request. PwC and CDP do not guarantee the accuracy orcompleteness o this inormation. PwC and CDP make no representation or warranty, express or implied, and accept no liability o any kind in relation to the report includingconcerning the airness, accuracy, or completeness o the inormation and opinions contained herein. All opinions expressed herein by CDP and/or PwC are based ontheir judgment at the time o this report and are subject to change without notice due to economic, political, industry and irm-speciic actors. Guest commentaries whereincluded in this report relect the views o their respective authors.
PwC and CDP and their ailiated member irms or companies, or their respective shareholders, members, partners, principals, directors, oicers and/or employees, mayhave a position in the securities discussed herein. The securities mentioned in this document may not be eligible or sale in some states or countries, nor suitable or alltypes o investors; their value and the income they produce may luctuate and/or be adversely aected by exchange rates.
PricewaterhouseCoopers and PwC reer to PricewaterhouseCoopers LLP (a limited liability partnership in the United Kingdom) or, as the context requires, other memberirms o PricewaterhouseCoopers International Limited, each o which is a separate and independent legal entity.
Carbon Disclosure Project and CDP reers to Carbon Disclosure Project, a United Kingdom company limited by guarantee, registered as a United Kingdomcharity number 1122330.
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