Companies More Likely to Disclose Under Shareholder Scrutiny

Firms are more than twice as likely to disclose their environmental impact when targeted by shareholders, according to the CDP’s latest Non-Disclosure Campaign. A record 260 financial institutions with US$30 trillion in assets joined CDP’s 2022 campaign, representing a 56% increase from the year prior, which called on up to 1,500 companies to disclose. This included industries including manufacturing, fossil fuels, and health care, with many companies disclosing for the first time as a result of the CDP-led campaign. Levi Strauss, Samsung SDI and Honda disclosed on water for the first time, with the latter joining Costco in disclosing forests, while Mitsubishi reported on climate for the first time. The report from the global non-profit found that the number of companies asked to report on forests and water security “increased substantially” in 2022 to 35% and 51% respectively. This led to increased disclosure rates in these areas with companies targeted on forests 3.2 times more likely to respond and 2.2 times for water security.

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