Issue: Updating and disclosing company climate strategy
Norma is a supplier of components to the automotive industry where products are critical to the functioning of exhaust emission treatment systems. The company has however elected not to participate in the CDP analysis and has not disclosed its strategy around climate change.
The objective of the engagement was to get the company to complete the annual CDP questionnaire.
Scope and process:
WHEB was approached by the CDP to assist in supporting their request that the company complete the CDP questionnaire. WHEB led the engagement with the company on behalf of 15 CDP investor signatories with positions in Norma. This involved writing a letter to the Investor Relations team at the company and following up with a teleconference and two in-person meetings.
Outcome: Partially Successful
The company was initially quite reluctant to participate in the 2018 questionnaire process. In large part, this was due simply to the timing of the process which conflicted with the company’s own internal timeline for producing their sustainability report and at a meeting in July they declined to participate in the 2018 questionnaire. However, we met again with the company in November and at this meeting the company agreed to participate in the 2019 questionnaire and we look forward to analysing their response and learning more about their strategy to address climate change across their business.