December 10, 2020
Nexans has been recognized for leadership in corporate sustainability by global environmental non-profit CDP, securing a place on its prestigious ‘A List’ for tackling climate change.
Nexans was recognized for its actions to cut emissions, mitigate climate risks and develop the low-carbon economy, based on the data reported by the company through CDP’s 2020 climate change questionnaire.
Nexans is one of a small number of high-performing companies out of 5,800+ that were scored. Through significant demonstrable action on climate, Nexans is leading on corporate environmental ambition, action and transparency worldwide.
CDP’s annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. In 2020, over 515 investors with over US$106 trillion in assets and 150+ major purchasers with US$4 trillion in procurement spend requested companies to disclose data on environmental impacts, risks and opportunities through CDP’s platform. Over 9,600 responded – the highest ever.
A detailed and independent methodology is used by CDP to assess these companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Those that don’t disclose or provided insufficient information are marked with an F.
“The climate emergency is upon us. Because we are aware that our actions, our production processes, as well as our products and services, have an immediate impact on climate issues, Nexans has made energy transition one of its strategic priorities. Aware of our industrial responsibility, Nexans is taking concrete actions to fight global warming“, says Christopher Guérin, CEO of Nexans. “This recognition is an encouragement for our company to amplify its efforts and actions to meet the challenges posed by the sustainable electrification of the future“.
Nexans is fully aware of its responsibility for sustainable electrification and intends to meet this objective, including at the operational level. This is why the Group has announced its commitment to achieve carbon neutrality by 2030. To achieve this, Nexans is deploying a clearly defined roadmap, including an average annual reduction of 4.2% in its greenhouse gas emissions, particularly on scopes 1 and 2. This reduction ensures that the Group carries out the work necessary to contribute to the objective set in the Paris agreements at COP21 (2015) to maintain the global warming trajectory at 1.5°C.
Paul Simpson, CEO of CDP, said: “We extend our congratulations to all the companies on this year’s A List. Taking the lead on environmental transparency and action is one of the most important steps businesses can make, and is even more impressive in this challenging year marked by COVID-19. The scale of the risk to businesses from climate change, deforestation and water insecurity is enormous, and we know the opportunities of action far outweigh the risks of inaction. Leadership from the private sector will create an ‘ambition loop’ for greater government action and ensure that global ambitions for a net zero sustainable economy become a reality. Our A List celebrates those companies who are preparing themselves to excel in the economy of the future by taking action today.”