The independent environmental data provider CDP has launched a new platform designed to streamline and enhance the quality of climate and nature reporting.
The platform aims to remove barriers to high-quality disclosure and aligns with global standards.
CDP's new platform invites a record 75,000 companies, along with cities, states, and regions, to disclose environmental data. The updated corporate questionnaire integrates various critical issues such as climate, forests, water, biodiversity, and plastics into a single dataset, aligning with the ISSB (IFRS S2) climate standard. This alignment simplifies compliance with global mandatory climate disclosure legislation, expected to be adopted by countries covering nearly 55% of global GDP.
New analysis by CDP reveals that nearly 60% of listed companies already report most datapoints required by IFRS S2, indicating their preparedness for upcoming regulatory and market demands. Companies have reported that using CDP for disclosure helps them understand environmental impacts, drive climate action, increase ambition, reduce risk, meet regulatory requirements, and implement best practices.
Sherry Madera, CEO of CDP, highlighted the platform's benefits, stating, “Every dollar an organisation spends on reporting is a dollar they cannot spend on action. This year, CDP is a better partner for corporates, cities, states, and regions than ever before, making their disclosure even more efficient.”
The platform's launch is part of CDP’s ongoing effort to advance its disclosure system, developed in partnership with the Boston Consulting Group. Last year, companies representing over 66% of global market capitalization disclosed their data to CDP.
Emmanuel Faber, chair of the ISSB, welcomed the alignment, saying, “CDP’s new 2024 questionnaire aligns with our climate standard IFRS S2 as the baseline for climate-related disclosures for investors.”
CDP was founded in 2000 and works with more than 700 financial institutions with over $142 trillion in assets, and its scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy.
