The Carbon Disclosure Project (CDP), an independent environmental disclosure system, has launched a new disclosure platform to harmonise global standards and make disclosures more efficient, while removing barriers to better quality reporting on climate and nature.
With a record 75,000 companies asking to disclose environmental data through CDP, the platform aims to further ease the reporting burden and make it easier to disclose in an agile way.
With global mandatory climate disclosure legislation on the rise around the world, CDP has launched a new questionnaire aligned with the International Sustainability Standards Board (ISSB) climate standard (IFRS S2) which aligns with other key standards like the Taskforce on Nature-related Financial Disclosures (TNFD) and the European Sustainability Reporting Standards (ESRS), harmonising them in one questionnaire and dataset.
“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. There are compelling business reasons to disclose environmental data: securing access to capital, driving business efficiency and responding to growing compliance requirements,” said Sherry Madera, chief executive officer of CDP.
Additionally, new CDP analysis released today shows that most disclosing companies are already well prepared, with more than 60% of listed companies already responding to the vast majority of questions in CDP’s questionnaire aligned with IFRS S2.
Furthermore, CDP is holding the Global Disclosure Dialogue this week. Speakers include CEOs of Standard Chartered, NTT Data, Klabin, Nissay Asset Management and the Green Finance Institute, as well as leadership teams from the ISSB, TNFD and European Financial Reporting Advisory Group (EFRAG), among others.
“CDP is the ISSB’s key global climate disclosure partner. We are delighted that CDP’s new 2024 questionnaire aligns with our climate standard IFRS S2 as the baseline for climate-related disclosures for investors,” said Emmanuel Faber, ISSB’s chair.
“Our partnership will make life easier for companies to disclose relevant data to their stakeholders and will critically accelerate rapid global uptake of IFRS S2 and the availability of information so urgently needed by investors,” he added.
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