Companies & greenhouse gas emissions

I recently got a question on greenhouse gas (GHG) emissions for individual companies. There are more options if you need data on a country: Datastream and open data country level data Quandl sources. I know only of a few sources/databases that cover this type of information on a company level. For listed companies there is the database  ASSET4 ESG: the database exists for about 12 years and started with 1500 companies. It now covers 6000+ companies worldwide. The database is available through the Datastream software (Thomson Reuters). ASSET4 ESG covers the following relevant GHG datatypes:

CO2 Equivalents Emission Direct    ENERDP024
CO2 Equivalents Emission Indirect    ENERDP025
CO2 Equivalents Emission Reduction Production (inactive)    ENERDP028
CO2 Equivalents Emission Reduction Transportation (inactive)    ENERDP029
CO2 Equivalents Emission Total    ENERDP023
CO2 Estimation Method    ENERDP124
Cement CO2 Equivalents Emission    ENERDP027
Estimated CO2 Equivalents Emission Total    ENERDP123
Fleet CO2 Emissions    ENPIDP029
Score – Emission Reduction/CO2 Reduction    ENERO05S
Score – Emission Reduction/Cement CO2 Emissions    ENERO04S
Value – Emission Reduction/CO2 Reduction    ENERO05V
Value – Emission Reduction/Cement CO2 Emissions    ENERO04V

Only three of these list specific data on CO2 (or CO2 equivalents) production in tonnes or g/km:

  • Cement CO2 Equivalents Emission ENERDP027
  • Estimated CO2 Equivalents Emission Total ENERDP123
  • Fleet CO2 Emissions ENPIDP029 Time Series N

If you need more data on companies you could also try getting the CDP or sustainability/CSR reports for the companies through sources / websites like:

Through the CDP website (after free registration) you can also view and download data for companies and governments on the greenhouse gas (GHG) emissions, water management, and forest-risk.

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Sustainable & Responsible Mutual Funds and other databases

In the past I have posted an item on sustainability funds from the US SIF website with some performance data. The Mutual Funds on the website lists Tickers and names for these funds. The tickers on that website are NASDAQ Tickers. Additional information on these funds can be downloaded from the CRSP Mutual Funds part database Funds summary using a text file of these tickers. At search step2 in the WRDS platform you can choose to upload a file containing mutual fund codes:

In WRDS at step 3 you can choose to download descriptive information. If the CRSP database does not contain enough information you can select items like 8-digit CUSIP of NCUSIP as part of your download. The NCSUIP is the 9-digit CUSIP.
Using these CUSIP code you can search for more information in other databases like Compustat North America and Datastream/Asset4 ESG/WorldScope. In Compustat you can download data by creating a text file with CUSIP codes. This will run fine.

Using CUSIP 9 codes in Datastream (and for databases through datastream, like ASSET4 ESG and Worldscope) requires that the codes are enhanced by adding the letter U in front of each code. This can be easily done using the Concatenate() function in Excel. See example:

Before uploading a list of these enhanced CUSIP 9 codes, make sure to copy and paste the list in Excel to make all these CUSIP codes values! Datastream cannot upload Excel formulas. When you need to upload and work with lists in Datastream you can select the codes using the mouse and then use the Datastream option: Create list(from range):

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ASSET4 ESG and Sustainability lists

Over the past 14-15 years companies have increasingly reported on Corporate Social Responsibility, Governance and (Environmental) Sustainability. The ASSET4 ESG database carries historical data going back to 2002 when it started gathering data on 1000 (mostly US and EU) companies. These days the number of companies in the database has increased to about 4500 companies.

In the same period two sustainability lists were started: the GRI list of companies using the GRI methodology, and the Global 100 list. I think most companies that currently report using the GRI methodology are covered by ASSET4 ESG. As a check you can use the GRI company list which lists companies (starting in 1999) that have reported according to the GRI guidelines. That list also states what GRI guideline level has been used. Unfortunately it is not possible to upload the GRI website list as it only has the names of the companies. That also makes it difficult to match ASSET4 ESG output with the GRI List.

You can use the variabel GRI Report Guidelines from the database to find out if a company publishes a CSR or Sustainability report in accordance with GRI guidelines for each year that ASSET4 ESG has data on the company. The output will say Yes if it does.
In all, ASSET4 ESG has three GRI related variables that you can download on companies included in the database:
1) GRI Report Guidelines – CGVSDP028
2) Score – Vision and Strategy/GRI Report – CGVSO06S
3) Value – Vision and Strategy/GRI Report – CGVSO06V

Here you see an example of this:

The Global 100 list was started in 2005 and the most current list has just been published on 2014. The list can be downloaded from the Global 100 website. The ASSET4 ESG does not have a specific Global 100 variable that identifies it as being covered. However, the Global 100 Excel list not only annually lists company names but it also has the ISIN codes of each company. That makes it easy to get data from the ASSET4 ESG database as you can upload a list of ISIN codes using the Datastream Excel Add-in option Create list (from range). 340 companies were included in the Global 100 over the period 2005 to 2014. For 330 companies it is at the moment possible to get data from the ASSET4 ESG database.

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CRSP Mutual Funds & NASDAQ Tickers

Not long ago I got a question about the sustainable & responsible Mutual Funds that were listed on the US SIF website. Using the 145 NASDAQ tickers from the website I did a search (through Wharton/WRDS) in the Mutual Funds database Fund Summary of the Center for Research in Security Prices (CRSP). Data on a total of 138 funds was returned but unfortunately for only 108 funds the NASDAQ ticker was also returned as a data variable. 7 of the funds were not returned and also gave no result in the output.

This makes it impossible to easily combine the downloaded data with the data from the US SIF website for 37 of these funds. I contacted the CRSP helpdesk to find out why for 30 funds the tickers were not returned and why for 7 funds it might be missing.
The following situations may cause this result from the CRSP database:

  • The fund is not in the search result because it is not in the CRSP database
  • The fund is not in the search result because it is not connected to the NASDAQ ticker
  • The fund is in the search result but has no NASDAQ ticker because it was not connected to it for all the years in the database.

This means two things:

  1. To find the missing NASDAQ Tickers for the funds it may be an idea to change the approach of the research. First do an initial search with all the NASDAQ Tickers and change the scope of the search to include a larger number of years. For the older years the NASDAQ tickers may be available. Using the matching Fund Numbers from CRSP you can now do a second search to get the data you need for the original time frame of the research. This means some extra work using Excel or SPSS to get a matching list of NASDAQ tickers and CRSP Mutual Fund numbers.
  2. To find out if missing funds are really not in the database a manual search needs to be done using the Code lookup option.

The easiest way I found to start the research, is getting a list of CRSP fund numbers combined with the NASDAQ tickers using the historical DVD copy of the CRSP Mutual Funds database. With the installed CRSP Sift 4.2 software it is extremely easy to get a matching list. A search in this database can be done using a plain text file with NASDAQ tickers.

If tickers are missing from the result you get a specific pop-up message listing the missing tickers. You can copy these and save them separately. The Excel search result of 138 funds can later also be used to match the CRSP data with the US SIF data from the website.

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Companies & the Global Reporting Initiative

Over the past 10 years sustainability or corporate social responsibility have become increasingly important for companies. Many companies these days publish reports or include specific chapters of their annual reports/reviews on this subject. Companies also actively try to become part of sustainability indices or lists to show how responsibly they operate.

In the past I have posted several specific blog items on sustainability:

Since I posted the item on the GRI many companies worldwide have started using this methodology and GRI version 4 has now appeared. In the original post I referred to an excel file of approximately 3000 companies that shows an overview of the companies that have adopted the GRI methodology. This list now includes a staggering 5500 companies worldwide. The list also shows when companies started adopting the GRI method inclusing which level they used in what year. This list is updated 6 times a year and can now be found through the Sustainability Disclosure Database at the section About This Site:

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Global 100 annual list

The past 10-15 years many companies have started reporting on the impact of their company on the world. Many companies have also started producing separate annual Corporate Social Responsibilty or Sustainability reports. This type of report covers information about economic, environmental, social and governance performance.

In a previous post on my old blog I mentioned the Global Reporting Initiative and the GRI guidelines. Another, more recently formed, initiative is the Global 100 list of companies.  The Global 100 is an annual project initiated by Corporate Knights Inc. The Global 100 is a list of the top 100 most sustainable corporations. The Global 100 was launched in 2005 and the annual list of Global 100 companies is announced each year during the World Economic Forum in Davos.

The main organization behind the list is Corporate Knights (CK), which is a Toronto-based corporation active in the fields of media, research and financial products. The list is based on information gathered by four sustainability research providers: Corporate Knights, Global Currents, Inflection Point Capital Management and Phoenix Global ADVISORS LLC (Phoenix). Companies’ final Global 100 score is represented by a percentage ranging from 0-100%. The final score is driven by company performance on a set of eleven key performance indicators (KPIs). The final score is a simple average of the 11 KPI scores. An overview of the 11 KPI’s is available on the part of the website that deals with the methodology.

All the annual Global 100 lists are available from 2005 to now:

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