New disclosure platform unveiled to unlock faster action, harmonize global standards and make disclosure more efficient

• A record 75,000 companies asked to disclose environmental data through CDP
• CDP’s new corporate questionnaire aligns with the ISSB (IFRS S2) climate standard as the foundational global baseline and brings forests, water, biodiversity and plastics issues together in one questionnaire and dataset.
• New CDP analysis released today shows that most disclosing companies are already well prepared, with nearly 60% of listed companies already responding to the vast majority of questions in CDP’s questionnaire aligned with IFRS S2.
• Majority of companies say disclosure through CDP enables them to understand environmental impacts, drive climate action, increase ambition, reduce risk, meet regulatory requirements and implement best practice.

In a move set to kickstart a new era of more efficient disclosure and faster action, CDP, the world’s only independent environmental disclosure system, has today launched its new platform to streamline and remove barriers to high-quality reporting on climate and nature.

CDP’s new platform, open to a record 75,000 requested companies in addition to cities, states and regions, will 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 IFRS S2, the ISSB’s climate standard, as the foundational baseline for CDP’s climate disclosure.

CDP has also progressed critical alignment with other key standards like the Taskforce on Nature-related Financial Disclosures (TNFD) and the European Union standards (ESRS), harmonizing them in one questionnaire and dataset.

This alignment drives real efficiency for disclosers and data users. Countries covering nearly 55% of global GDP are seeking mandatory full alignment with ISSB Standards and CDP’s alignment will make it easier to comply. New CDP analysis released today shows that most disclosing companies are already well prepared, with nearly 60% of listed companies already reporting the vast majority of datapoints aligned with IFRS S2 in CDP’s questionnaire.

A new streamlined questionnaire combining climate, forests, water, biodiversity and plastics empowers organizations to better assess the environmental risks, impacts and opportunities in their operations, supply chain, and financial decisions. CDP has also released a standalone questionnaire for SMEs tailored to their resources and needs, to build capacity across a critical component of the global value chain.

Sherry Madera, CEO of CDP said:

“Every dollar an organization 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. These demands for disclosure affect core business success both at home and abroad. CDP is proud of our partnerships with the ISSB, TNFD, EFRAG and other global frameworks to fulfil our role in the ecosystem, answering market demand for efficiency and enabling faster environmental action through the power of data. Our new platform launching today ensures that data disclosed once can be used by many investors, lenders, and procurement teams across the globe.”

CDP is committed to further advancing its disclosure system to meet the evolving needs of the market – with investment in its technology to allow an open cycle of reporting, further harmonizing standards beyond climate, and ensuring the usefulness of disclosed data to drive change. CDP’s new platform, developed by CDP’s technology team and supported by BCG X, Boston Consulting Group’s tech build and design unit, is a key first step.

Last year, companies representing over 66% of global market capitalization disclosed their data to CDP. To reinforce the pivotal role CDP plays in the ecosystem, the organization is today holding the Global Disclosure Dialogue: a first of its kind event held online and in locations spanning the globe. Renowned speakers include CEOs of Standard Chartered, NTT Data, Klabin, Nissay Asset Management and the Green Finance Institute, in addition to the leadership teams from the ISSB, TNFD and EFRAG, JP Morgan, Lenovo, Bloomberg, LSEG, the Monetary Authority of Singapore, the world’s first Ambassador for Climate Action in the Singaporean government, and many more.

Emmanuel Faber, Chair of the International Sustainability Standards Board (ISSB) said:

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. With a record of success in driving the adoption of disclosure frameworks, CDP is an established, trusted tool that supports companies on their path to ISSB compliance. 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.

Tony Goldner, Executive Director of the Taskforce on Nature-related Financial Disclosures (TNFD), said:

Today’s launch of CDP’s new corporate questionnaire represents another exciting milestone for TNFD and corporate reporting, as thousands more companies start to disclose key TNFD-aligned data, following the lead of the Early Adopters announced in January. Reporting to the global market through CDP will be critical in ensuring that investors, lenders, insurers and companies can respond to their material nature-related dependencies, impacts, risks and opportunities. CDP’s integrated approach to climate and nature, long-established through its work on forests and water disclosure, is key to progressing the holistic environmental action the world needs, and we look forward to continuing to work together towards this shared goal.

Andrew Buay, Vice President at Singtel Group, said:

“CDP’s comprehensive framework has played a role in guiding the Group’s longstanding commitment to environmental stewardship. CDP’s rigorous framework has sharpened our decarbonisation approach and prepared the Group for upcoming IFRS S2 climate-related disclosures. We look forward to CDP’s support in our journey to realise our revalidated SBTi-approved target and reach net zero target by 2045.”

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Xavier Denoly, SVP Sustainability Development at Schneider Electric, said:

“Our partnership with CDP goes well beyond measurement and disclosure: it spurs us to drive tangible initiatives, foster innovation, and bring everyone along. Together with our A List peers, we are committed to making a meaningful impact and shaping positive change in the business world, using disclosure as the bedrock for action.”