by AF 0817i3 — August 20, 2010—The transportation sector generates 13 percent of global greenhouse gas emissions, but a new study suggests the industry is in the slow lane when it comes to disclosing their carbon footprints and setting plans to shrink them.
The Carbon Disclosure Project (CDP) surveyed nearly 300 of the world’s largest transport companies in a bid to assess how prepared the sector is to operate in a carbon constrained world. Global business is dependent upon the sector to move goods and services.
Yet while there are some leading companies clearly taking steps to manage carbon, the overall transport sector lags in reporting its emissions, devising emissions reduction plans, and identifying the risks and opportunities associated with climate change regulations, according to the nonprofit organization. Just 9 percent invested in low carbon technologies, such as electric vehicles or renewable energy.
Transportation companies in Europe (52 percent) and South America (60 percent) are more likely to develop emissions reduction plans compared to their Asian (18 percent), U.S. and Canadian (47 percent) counterparts, according to the survey.
Transportation companies also lag other sectors in identifying regulatory risks and opportunities, even though the industry is exposed to a variety of regulatory regimes around the world. For example, 60 percent of global companies cite regulatory risks in their CDP questionnaires, while another 60 percent discuss related opportunities. In comparison, 53 percent of transport companies identified regulatory risks, while another 59 percent cited opportunities.
The survey highlights leaders such as United Parcel Service and Toyota.
