AkzoNobel has been ranked number one on the influential CDP (Carbon Disclosure Project) Global Chemical Companies List, which ranks the largest publicly listed chemical companies on business readiness for a low carbon transition.

The results are published in the Catalyst for change report, which focuses on a group of 22 companies responsible for a combined total of 276 million metric tons of CO₂ emissions a year – which represents a quarter of all annual emissions in the chemicals sector.

“AkzoNobel is a clear leader, outperforming all other companies by a clear margin across most metrics,” states the report. It goes on to say that the world’s largest purchasing organizations are using their buying power to drive down emissions across their supply chains, achieving worldwide CO₂(e) reductions of 434 million tons in 2016 – equivalent to more than France’s annual GHG emissions.

“Being top of the ranking demonstrates a clear commitment to achieving our ambition of eliminating carbon emissions and using 100% renewable energy by 2050,” said André Veneman, AkzoNobel’s Director of Sustainability. “We will continue to identify new areas of opportunity to drive us forward while offering innovative products and services that also enable our customers to reduce their own energy use and carbon impact.”

Four key areas are assessed in the league table: managing transition risks, managing physical risks, transition opportunities and climate governance and strategy. AkzoNobel was the only company to score an A for transition opportunities and one of only two companies to receive an A for climate governance and strategy. Three companies (including AkzoNobel) scored an A for managing physical risks.

The announcement that AkzoNobel leads the rankings comes just a few weeks after the company topped the Chemicals Industry group in the 2017 Dow Jones Sustainability Index. 

Formerly known as the Carbon Disclosure Project, CDP has been voted the number one climate change research provider by institutional investors.