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Ballard excels with CDP climate change score report 2023

2 minute read
Apr. 19, 2024
Article by Thomas Davies

Environment, Social & Governance stock image

Ballard has further enhanced its environmental, social and governance (ESG) rating with the Carbon Disclosure Project (CDP) through improved environmental data which benchmarks global companies’ performances in key criteria including emissions reduction initiatives, risk management processes, and value chain engagement.

Following results from the capital goods questionnaire, Ballard received a B grade, placing the company in the ‘management’ band – which acknowledges that a company is taking coordinated action on climate issues – and surpassing the North America regional average and renewable energy equipment sector averages of C.

The 2023 result is the latest incremental improvementCategory Scores for the company, up from the B- in 2022 and the C grade recorded the year before that. In 10 of the 11 main category scores - which included business strategy, financial planning and scenario analysis, energy, governance, and targets - Ballard either equalled or surpassed its activity group average, posting superior grades in eight of the core benchmarking subjects.

“It’s great to see Ballard improving our overall performance with the CDP year-on-year. We have taken a rigorous approach to the process, looked at the areas that needed to be addressed, and have adjusted to ensure progress. When we compare ourselves with industry peers and competitors, we also come out favorably, so it is clear that the company continues to do well in this space and is moving confidently in the right direction.”

Jennifer Nakata Director, ESG, Ballard

Jennifer Nakata

The CDP is a not-for-profit charity that runs the global environmental disclosure system. Its score report allows companies to understand their ongoing performance in critical areas and indicates which categories require attention to reach higher scoring levels. This enables companies, like Ballard, to progress towards environmental stewardship through benchmarking and comparison with peers – continuously improving their climate change governance.