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Despite almost $500bn in reported opportunities from climate change NEW YORK; Sept. 13, 2017 – Four in 10 telecommunications and consumer goods companies reporting to CDP fail to capture or report any financial value from strong environmental performance, according to new research released today by Accenture (NYSE: ACN), CDP and Hermes Investment Management. The largest emitters in the global economy, responsible for 50 percent of carbon emissions that was reported to CDP, account for a cumulative $447bn opportunity from climate change. Yet 42 percent of these companies have not yet quantified the potential value. “We see this as a huge missed opportunity for companies. Reporting on financial value through environmental performance allows businesses to build investor trust, provide meaningful transparency and help ensure long-term profitability,” said Justin Keeble, Managing Director, Accenture Strategy. “Through this partnership with CDP and Hermes, we’re bringing Accenture Strategy’s industry-leading insights to help companies focus on sustainability as a means for value creation.”

• Hermes intends to vote against Chairman due to lack of diversity progress • Joins investor group in calling for further disclosure on climate risks Ahead of the Rio Tinto AGM tomorrow, Bruce Duguid, Stewardship Director within the Hermes EOS team at Hermes Investment Management, highlights two areas of focus in our engagement with the company. Environmental risk reporting The 2017 AGM season marks the first year of new climate change risk reporting requirements for mining companies Anglo American, Glencore and Rio Tinto. This follows the passing of resolutions last year, with the support of more than 95% of shareholders, requesting further disclosure of carbon-risk reporting and the company’s actions to manage them.