Electric companies secretive on emissions plans

Just one in six of the world’s publicly traded electric utility companies have openly revealed their targets for reducing carbon emissions, it emerged this week.

A worldwide study by the Carbon Disclosure Project (CDP) also found that fewer than half (46%) of electric companies disclose their power generation fuel mix - vital information for ethical investors.

However, 59% of the companies who responded said they have plans to reduce emissions whilst 61% have forecasts for future emissions.

CDP commissioned RiskMetrics to conduct the research and write the report.

Doug Cogan, RiskMetrics director of climate risk management, said the research “raises the question of how much utilities are willing to pay to cut their emissions - or pass costs onto customers.”

He added that improved disclosure by energy companies would enable ethical investors to make more informed decisions.

Electricity production is responsible for a quarter of global greenhouse gas emissions - making electric utilities the most polluting industry on the planet.