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Only 1.3% of Firms Disclosing on All Environmental Issues – CDP

Of the 900+ companies requested to disclose against three questionnaires from disclosure platform CDP – covering climate change, forests and water security – only 12 (1.3%) were awarded ‘Triple A’ status for their transparency and action across all areas. Adoption of voluntary deforestation and water security disclosures through CDP is still in its early stages, but will provide stakeholders with be deeper and higher quality insights over time. The number of Triple As has fallen from 14 last year, and despite an increasing number of companies factoring their climate change impacts into business-as-usual processes – with 280 companies scoring an A for their climate change disclosures, rising 34% from 2021 – progress on deforestation and water security “remains slow”. There was just a 4% increase in the number of forest disclosure A Listers and a 12.7% decrease in the number of water security A Listers, from 118 in 2021 to 103 in 2022. Dexter Galvin, CDP’s Global Director of Corporations & Supply Chains, said: “A List companies should be commended for the level of transparency in their CDP responses. But we cannot ignore that these companies are in the minority. Most are still not managing all environmental issues holistically, and far too many are remaining complacent or failing to respond at all.” 

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