CDP 2024: The global sustainability benchmark for business is changing

CDP (previously Carbon Disclosure Project) is one of the most used global disclosure systems for investors, companies, cities, states and regions covering climate change, water, forests and supply chain data. These provide an accurate and detailed snapshot of the sustainability performance of a business aligned to a rating as illustrated - from basic disclosure (D) up to leadership levels (A)¹.

CDP supports over 700 financial institutions, representing more than US$142 trillion in assets, in accessing high quality environmental data on their investees² . In 2023, 75,000 companies globally were invited to disclose, and over 23,000 responded, representing US$67 trillion in global market capitalisation³ . In Europe alone, 7682 companies disclosed their environmental data through CDP, with over 468 companies based in Ireland. Four Irish companies received the top ‘A’ Leadership rating in 2023 - CRH, Kingspan, Johnson Controls International and Trane Technologies.

For businesses, CDP scores provide an internationally recognised benchmark enabling comparison with industry peers and offering valuable feedback on performance. The score provides reliable information on a company’s environmental performance and disclosure practices. It evaluates how well organisations are aligned to science based best practice including 1.5°C climate change targets and a nature positive, water-secure future.

Key changes for 2024⁴

CDP has introduced significant changes in 2024 including a new CDP portal for submissions, a new Full Corporate Questionnaire with an integrated environment focus. A questionnaire designed for Small and Medium Enterprises (SMEs) has been introduced to encourage smaller organisations to take and disclose credible action. The CDP Global Disclosure Dialogue 20245 , on 04 June 2024, brought together stakeholders from around the world to unveil these changes which are summarised in the whitepaper. 

Read the full whitepaper via the link adjacent. 

1 cdp_report_2024.pdf (cdpirelandnetwork.net)

2 What we do - CDP

3 Record 23,000+ companies disclose environmental impact through CDP, with urgency for action clear in wake of unprecedented global temperatures – CDP

4 CDP_2024_corporate_disclosure_framework_-_headline_changes.pdf Corporate-Disclosure_Key-changes-for-2024_Part-II.pdf (cdp.net)