We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.
Climate Lobbying Overview: AMP appears to have a broadly positive position on climate change lobbying. This is mainly due to positive engagement through top-line statements on climate change and the energy transition. However, the company appears to have limited engagement on specific climate-related policy.
Top-line Messaging on Climate Policy: AMP has supportive top-line messaging on climate change. The company has published a Climate Position and Action Plan in April 2021 where it backed the science of climate change, the Paris Agreement and its goal of transitioning to net-zero economy by 2050. In the same paper, it also appears supportive of government policies and reduction targets “consistent with the Paris Agreement goals” to help the economic transition. This is an improvement from its previous position communicated in its 2020 Sustainability Report.
Engagement with Climate-Related Regulations: AMP appears to have limited engagement on specific climate-related policy. In April 2021, AMP has stated support for emissions reduction targets to respond to climate change in its Climate Position and Action Plan. Besides this, AMP appears to not have engaged on climate-related policy and regulations, and shows minimal transparency over its climate change policy positions, both in its corporate reporting and through its CDP disclosures.
Positioning on Energy Transition: AMP appears generally supportive of transitioning the energy mix to low-carbon technologies. In a May 2021 press release, it stated support for transitioning away from dependency on fossil fuels in Australia. A 2020 press release showed a positive position on the energy transition and the role of renewables in the fight against climate change. However, there is limited evidence of engagement beyond top line statements of support.
Industry Association Governance: AMP has disclosed a list of its industry association memberships in its 2020 Sustainability Report. However, the disclosure does not contain any details on the policy positions of the associations and how AMP has sought to influence their positions.