A new analysis of the biggest companies on the New Zealand stock market has revealed interesting insights into their environmental performance. Investment firm Forsyth Barr conducted a study on 61 companies, representing 97 percent of the stock market value and 13 percent of New Zealand’s emissions. The report focused on greenhouse gas emissions, emissions intensity, and other environmental and social measures.

Key Findings:

• Only 18 companies showed a consistent trend of lowering their emissions over a five-year period.
• Electricity companies such as Meridian Energy, Contact Energy, and Mercury were the best performers in terms of climate, environmental, and social measures.
• 50 companies had set net zero or emissions reduction targets, indicating a positive shift towards sustainability.

Implications and Recommendations:

The report emphasized the need for companies to accelerate their efforts in reducing emissions to meet New Zealand’s targets and global climate agreements. While some companies have made significant progress, there is still a long way to go in achieving sustainability goals. It highlighted the importance of long-term data tracking and the adoption of science-based targets to drive meaningful change.

Notable Initiatives:

• A2 Milk’s conversion from coal to electricity at its factory, reducing emissions by 45 percent.
• Genesis’ trial of using biomass instead of coal at Huntly power station.
• New Zealand King Salmon’s investment in waste-to-energy technology.
• Spark’s renewable electricity deal with Genesis from a solar farm.

Conclusion:

Overall, the report highlighted both the progress and challenges faced by companies in New Zealand in addressing environmental concerns. It called for continued efforts in reducing emissions, setting ambitious targets, and implementing sustainable practices across industries. The findings serve as a reminder of the urgent need for collective action to combat climate change and promote a greener future for all.