Resource Database

Without world-class data there is no transparency, a vital step towards accountability. In 2023, 23,000+ companies – representing a staggering US$67 trillion in market capitalization – disclosed their environmental performance data to CDP.

This factsheet presents an overview of the key findings and emerging trends from this data, showcasing CDP’s expanding coverage and growth across regions, markets, and the key environmental themes of climate change, forests, water security, biodiversity, and now, plastics

CDP’s financial services disclosure report offers a comprehensive cross-thematic disclosure analysis that highlights the gap in how financial institutions consider nature-related impact, risks and opportunities compared to climate factors, in their financial decision-making.

While outlining critical steps for financial institutions to embrace nature-positive strategies, the report builds on the sector’s progress since CDP’s 2020 ‘The Time to Green Finance’ report, which emphasized the crucial role FIs can play in achieving net-zero by 2050.

In 2021, 225 companies (64%) listed on the FTSE 350 index, representing a market capitalization of over US$2.5 trillion, responded to CDP’s climate change questionnaire. This insight piece investigates the disclosing organizations’ alignment with the recommendations of the TCFD and the reported financial impacts of climate-related risks and opportunities.

In April 2022, the UK mandated TCFD-aligned disclosure for the country’s largest traded businesses, banks, and insurers. This will help financial decision makers in understanding businesses’ financial exposure to climate-related risks through clear, comprehensive, and consistent information. Inadequate information about risks can lead to mispricing of assets and misallocation of capital that can potentially lead to concerns about the stability of financial markets and their vulnerability to abrupt corrections.

Additionally, this insight piece looked into the disclosers’ transition plans using a set of CDP indicators. This is in response to the UK government’s announcement to mandate transition plans for listed companies and financial institutions by 2023.

In 2021, 503 companies (84%) listed on the STOXX Europe 600 index, representing a market capitalization of over US$11 trillion, responded to CDP’s climate change questionnaire. This analysis looks at the disclosing organizations’ alignment with the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD) and the reported financial impacts of climate-related risks and opportunities.

Evaluating the TCFD alignment of companies listed on this European index is particularly relevant because in April 2021, the European Commission issued a proposed Corporate Sustainability Reporting Directive (CSRD). The CSRD will ensure that companies publicly disclose the climate-related risks and opportunities they face as well as the impact their business has on the environment. Company disclosures under the CSRD will need to be in line with the European Sustainability Reporting Standards (ESRS) which are being developed in alignment with existing standards and frameworks like the TCFD. Large companies are anticipated to be required to start reporting under the directive as early as 2024.

The Task Force on Climate-related Financial Disclosures (TCFD), established by the Financial Stability Board (FSB), published its 2022 Status Report today. This year marks five years since the Task Force published its final recommendations in 2017, and the 2022 Status Report assesses developments and progress during that time.

As part of its assessment, the Task Force reviewed publicly available reports of over 1,400 companies from eight industries and five regions to better understand current climate-related financial disclosure practices and their evolution.

The latest TCFD Status Report describes the steady increase in climate-related financial disclosures since 2017.

In 2021, 400 companies (80%) from the S&P 500 index, worth over US$28.2 trillion in market capitalization, responded to CDP’s climate change questionnaire. This analysis explores the alignment of the disclosures with the recommendations of the TCFD and additionally provide insights into the reported financial impacts of climate-related risks and opportunities.

A landmark development in the United States is the Securities and Exchange Commission’s (SEC) announcement of its proposed climate disclosure rule. The SEC’s rule largely tracks the TCFD recommendations and S&P 500 companies providing a high-quality disclosure through CDP are well prepared for the SEC requirements. The number of CDP climate change disclosers from the index have increased about 10% over the last five years.

Based on a review of literature and analysis of 2021 CDP response data, this technical note identifies the relevant and most significant (by size) Scope 3 categories for each of CDP’s high-impact sectors and, where relevant, specific sectoral activities. This technical note signposts the categories of Scope 3 emissions that companies should be measuring and taking action to mitigate.

Since the release of the recommendations of the TCFD in 2017 CDP has seen a strong shift in the policy landscape, as well as a growing number of financial regulators and financial institutions demanding companies to disclose in alignment with the core recommendations. CDP’s TCFD insights series explores how corporates are performing when it comes to disclosing against the TCFD recommendations.

CDP will be releasing a series of deep dive pieces that explores the corporate disclosures through CDP of key indexes for the G7.

This report shines a spotlight on how far along organizations are on their journey to developing climate transition plans and what key elements are being reported on. The report homes in on disclosure trends to targets and financial planning, and looks at industry and geographical trends across all climate transition plan elements.

This paper outlines the supervisory and regulatory practices in implementing the TCFD recommendations. This paper builds upon the SIF’s recognition of the TCFD recommendations as the preeminent disclosure framework for climate-related risks. The paper also highlights the improvements in the quantity, quality and comparability of climate-related disclosures observed through the implementation of the TCFD recommendations.

The SIF paper condenses the learnings from the current practices of SIF members in implementing the TCFD recommendations in their own jurisdictions, including using the information available in supervisory activities. Case studies from SIF members provide more detailed insights into the ways in which supervisors and regulators are encouraging voluntary TCFD-aligned disclosures and mandating requirements for such disclosures.

The purpose of this report is to shed light on why and how companies get started with climate scenario analysis. It highlights the practical steps taken by the teams interviewed and the observed challenges and best practices. It may therefore provide scaffolding to help companies tailor their own process and approach to climate scenario analysis. The report examines the processes through which companies produce their scenario analyses, and how these shape their outcomes.

The eleventh edition of this benchmark report, looks at:

• How companies report on their climate action and progress
• Reporting performance across the DOW 30, the EURO STOXX 50 and the FTSE 100
• The latest best practices and reporting trends
• Performance of key sectors within the research