Making CDP disclosures isn’t mandatory for any business. But stakeholders frequently expect it. And there are real advantages to doing it. So if you’ve been contacted by CDP and aren’t sure what to do next, here’s a quick guide.
You might recently have been contacted by CDP (Carbon Disclosure Project – the sustainability disclosure standard). If you’ve never made CDP disclosures before, you probably have some questions.
In this post, we’ll try to answer some of them.
Why has CDP contacted you?
It’s probably come about following a request, usually from investors, industry bodies, supply chain partners or customers.
What is CDP?
It’s a globally respected standard that helps organisations like yours show their environmental impact across three areas: climate change, forests, and water security.
Is this mandatory?
No. BUT, given the expectations of investors and other stakeholders, for many organisations, it may as well be.
What’s in it for you?
- It’s about transparency, reputation, and trust – completing the CDP questionnaire is a way for organisations to disclose their impact on the planet and what they’re doing to improve.
- It’s about meeting the requirements of investors and the expectations of major global purchasers and/or suppliers who regularly request sustainability information from their partners.
- It’s about access to capital – many financial organisations use CDP data when making investment decisions.
- It’s about regulatory readiness. CDP’s framework is aligned with other standards and frameworks. So, when you make CDP disclosures, you’re also taking big steps towards meeting the requirements of the Task Force on Climate-related Financial Disclosures (TCFD), the Global Reporting Initiative (GRI), International Sustainability Standards Board (ISSB) and its UK equivalent (UK SRS).
Making CDP disclosures – can you do it yourself?
Yes. Lots of companies complete their questionnaires internally and there’s no requirement to have an expert do it for you. BUT the process can be challenging – unfamiliar when you’re starting out and complex when you’re dealing with high-scoring goals or knotty supply chains.
So, even if you don’t ask an expert to complete your disclosures for you, it’s good to have your ‘phone a friend’ who has the experience to help you achieve the best grade.
Why talk to TBL?
We’ve been helping organisations with their CDP disclosures for a decade. Members of our team used to work for CDP, which gives us real knowledge and insight of what’s required.
So, whether you need general advice on how best to answer questions, detailed reviews of your questionnaire submissions, or in-depth disclosure analysis, just ask.
