Disclosure Progress “Much too Slow” – CDP

The quality of company disclosures on climate and nature is improving only incrementally, according to rankings published by environmental disclosure platform CDP. Just under 400 firms from a universe of more than 21,000 reporting companies were named on CDP’s 2023 A List for disclosing actionable, high quality environmental data, representing an annual increase of 14%. Only 10 firms were awarded a triple-A ranking for providing high-quality disclosures across all three of CDP’s questionnaires, covering climate change, deforestation and water security. The number of firms disclosing rose 24% in 2023, but most are “still not reporting at the level needed for tracking progress, achieving targets and avoiding greenwashing,” said CDP. “The stark reality is that we are incredibly far behind where we need to be, and progress is much too slow. Earning a place on the A List is an indication of high quality and comprehensive data that equips companies with a holistic view of their environmental impact,” said CDP CEO Sherry Madera. “Without transparency and accountability – followed by immediate action – claims of sustainability are meaningless.” To achieve an A ranking from CDP in 2023, companies needed to provide 100% verification of their Scope 1 and 2 emissions with no significant relevant exclusions, up from 70% in 2022.

 

 

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