More companies across the whole Oslo Stock Exchange responded this year than last to the Carbon Disclosure Project (CDP) but their average scores decreased slightly, according to Norwegian environmental, social and governance (ESG) policy advisors The Governance Group.

Governance Group partner Joachim Nahem said 39 Oslo-listed companies across all sectors responded in 2020, and 44 in 2021. But the A-rated list fell to five from nine.

"We believe companies can gain a competitive advantage by using these standards as the disclosures force companies to get ahead of regulatory and policy changes," Nahem said.