Carbon report shows business concerns easing

The latest snapshot of Australia's biggest companies says they are "increasingly comfortable" with the Federal Government's carbon pricing scheme.

Property companies and banks have been identified as the strongest performers in the latest report card on Australia's carbon pricing scheme.

The carbon disclosure project assesses the top 200 companies in Australia and New Zealand, scrutinising their greenhouse gas emissions, as well as their climate change strategies.

The best performers include the Commonwealth Property Office Fund, National Australia Bank and Mirvac, as well as Qantas, News Corporation and Woolworths.

However, the report also identifies a low number of companies still in the high emitting sectors and some which refused to disclose their data, including Lend Lease, BlueScope Steel and Iluka.

Nathan Fabian from the Investor Group on Climate Change says it will end up costing companies that choose not to report.

"Investors are increasingly using this information in their analysis about company value and so if companies are not disclosing this data investors have to piece it together from other places," he said.

"It's always best if companies can tell us clearly how they can manage the risks and what they are planning to do to mitigate those costs in the future." Overall, it states that Australian and New Zealand companies are increasingly comfortable with carbon pricing, with the number of businesses identifying risks falling by 12 per cent since last year.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    0.9270-0.0017-0.18%
    AUDUSD=X
    0.5519-0.0016-0.28%
    AUDGBP=X
    0.6706-0.0015-0.22%
    AUDEUR=X
  • Commodities
    Commodities
    NamePriceChange% Chg