CDP commends Pfizer for addressing climate change practices

Sep 22 2009

Pfizer Inc has been commended by the Carbon Disclosure Project (CDP) for its approach to addressing climate change. CDP named Pfizer to its Climate Disclosure Leadership Index, which highlights the company’s climate change disclosure practices. This is the third consecutive year that Pfizer has been recognized by CDP.

“As a health care company, Pfizer is very aware of the potential impact of climate change on global health,” said Steve Brooks, vice president of Global Environment Health & Safety for Pfizer. “Pfizer has set ambitious goals to lessen our effect on the environment.”

Brooks cited steady reduction of the company’s carbon footprint through global conservation and energy efficiency efforts, including equipment retrofits and combined heat and power systems. From 2002 to 2008, Pfizer reduced its global greenhouse gas emissions by 18 percent; between 2008 and 2012, the company is committed to reduce those emissions by another 20 percent.

“Companies recognized in the Carbon Disclosure Leadership Index are rewarded for high quality responses to CDP, which demonstrate a good understanding of how climate change is and will continue to impact their business,” said CDP Chief Executive Paul Dickinson. “Companies which control their risks today, manage their emissions and seize the opportunities to produce low carbon goods and services, will be the best placed to prosper in a low-carbon economy of the future.”

CDP is a not-for-profit coalition of 475 institutional investors with $55 trillion in assets under management. The Climate Disclosure Leadership Index, a key component of CDP’s annual S&P 500 Report, highlights the constituent companies within the S&P 500 Index which have displayed the most professional approach to corporate governance in respect of climate change disclosure practices. Companies are scored on their climate change disclosure, and high scores indicate good internal data management and understanding of climate change related issues affecting the company.