Benchmark metrics are assessed by the Transition Pathway Initiative (TPI) and subject to quality assurance as follows:
- Initial data collection and review: Assessments for most metrics are carried out by FTSE Russell analysts according to the methodology that can be found here. The TPI team at LSE carries out Carbon Performance assessments that inform benchmark sub-indicators 2.3, 3.3 and 4.3. All assessments (FTSE and TPI) are then reviewed by others researchers who were not involved in the primary assessment to ensure independence and consistency.
- Initial findings review: TPI and FTSE Russell conduct a detailed review to confirm that the data are complete and consistent, and resolve any inconsistencies by discussion. The final decision-making power in case of disagreement rests with TPI.
- Company review: Once the initial findings review is complete, TPI writes to companies with their preliminary assessment, offering companies an opportunity to review it and confirm the accuracy of the assessment based on public company disclosures. The company review is done for all companies, including those who provide unsuitable or insufficiently detailed disclosures.
- Final assessment: Company feedback is then reviewed and, if it is considered appropriate, assessments are revised. TPI involves FTSE Russell where appropriate, and may also ask for additional information in order to clarify the company’s feedback. Companies are then informed of the final assessment, alongside explanations why their challenges to the assessment were accepted or rejected.
- Data cut-off period: When companies are sent their initial assessments, a research cut-off date is communicated to them. This means that the assessments will only include data that have been publicly disclosed by that date. Climate Action 100+ intends to periodically reflect new and relevant company disclosures and commitments that occur between Benchmark cycles – these will be displayed on the specific company assessment on the Climate Acton 100+ website as supplementary and unassessed information for the company.