Groupe PSA joins environmental A list

Groupe PSA has been named as a global leader on corporate climate action by environmental impact non-profit CDP.

CDP assesses companies on the comprehensiveness of their climate disclosure, their awareness and management of environmental risks. It also takes into account their demonstration of best practices and their environmental leadership, such as setting ambitious and meaningful targets.

It was named Groupe PSA on its Climate Change A List, for its actions to cut emissions, mitigate climate risks and develop the low-carbon economy.

Carlos Tavares, CEO of Groupe PSA, said, ‘We are very honoured to be recognized by CDP as a leader in the transition to a new sustainable economy. Reducing our vehicles’ environmental impact has been one of the major challenges guiding our technological choices for more than 20 years, with innovative solutions that are publicly recognized for their effectiveness in reducing CO2 emissions.’

Paul Simpson, CEO of CDP, said, ‘Congratulations to all companies that made it onto CDP’s A List this year. As the severity of environmental risks to business becomes ever more apparent, these are the companies that are positioning themselves to provide solutions, seize new market opportunities and thrive in the transition to a sustainable economy.

‘We need to urgently scale up environmental action at all levels in order to meet the goals of the Paris Agreement and the Sustainable Development Goals. It’s clear that the business world is an essential player in this transition and the A List companies are set to make a substantial contribution to those goals.’

Every year, thousands of companies disclose data about their environmental impacts, risks and opportunities to CDP, for independent assessment. In 2018, companies were requested to do so by over 650 investors with over US$87tn in assets, and 115 major purchasing organisations with US$3.3tn in purchasing power. Companies receive scores of A to D- for how effectively they are tackling climate change. Those that don’t disclose or provide insufficient information are marked with an F.