CDP: Investors Key to Climate Action in 2024

The Carbon Disclosure Project (CDP), a global environmental disclosure platform, has published the results of its 2024 ‘Non-Disclosure Campaign’, highlighting increasing demands on corporates from investors. As part of the project, CDP worked with 288 financial institutions, representing US$29 trillion in assets, asking investee corporates for their climate and other environmental data. The report found that investor pressure has been successfully driving disclosures, with the number of disclosing companies having tripled over the past five years. Nature also appeared to be higher on the agenda, with companies 6.8 times more likely to disclose forest impacts if engaged by financial institutions. Disclosure rates, however, varied between regions, with Japan displaying the highest disclosure rate (39%), followed by Europe (24%). Oceania had the lowest disclosure rate (8%), while investors had the most limited impact on companies and their disclosures in North America. In addition, the sector with the lowest disclosure rate was fossil fuels (8%), with only 8 out of the 104 companies targeted by investors having disclosed. “The [campaign] is an opportunity for investors and other financial institutions to play a vital part in driving impactful corporate transparency,” the CDP said in a statement. “Companies were twice as likely to disclose after being targeted by financial institutions.”

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