As 2022 draws to a close, it's almost time for the CDP scores to be released.
This year, there are likely many different types of companies: those that decided not to respond, those that responded for the first time, those aiming for a higher score than last time, and those that have enhanced their efforts as leading companies.
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About CDP
CDP is a UK-based non-governmental organization (NGO) that operates a global disclosure system to help investors, companies, nations, regions, and cities manage their environmental impacts.
reference:CDP Japan
source:CDP Japan materials
Number of responding companies in 2022
This year, 2022, the number of companies that disclosed environmental data through CDP reached a record high of over 18,700 worldwide.
source:CDP release on October 19, 2022
In Japan, the number of companies subject to disclosure requests has been expanded this year to include all prime-listed companies on the Tokyo Stock Exchange (1,841 companies).
Of these, more than 1,700 companies and organizations, including over 1,000, responded. Furthermore, an increasing number of companies are requesting information disclosure from their suppliers through CDPs.
Looking at the number of companies that disclosed information in 2022 by country, the order was: United States (over 3,700), China (over 2,500), Japan (over 1,700), United Kingdom (over 1,400), and Brazil (over 1,300). What about by sector? The order was: Manufacturing (over 7,490), Services (over 4,400), Materials (over 1,690), Food, Beverage & Agriculture (over 1,000), and Transportation Services (over 930).
Increasing importance
Why do so many companies disclose information through CDPs?
One of the benefits for companies is that by responding to CDP (Customer Data Platform), they can disclose information to multiple investors and client companies. Institutional investors around the world use CDP data to make investment decisions.
Furthermore, by responding to the CDP questionnaire, companies can deepen their understanding of their own environmental risks and opportunities, environmental response measures, and international trends. In particular, since the questionnaire itself is aligned with the TCFD, responding to the CDP will also reveal issues related to the TCFD.
source:CDP Japan materials
Furthermore, while progress is currently being made in developing sustainability-related information disclosure standards, CDP has announced that it will incorporate the climate-related disclosure standards of the International Sustainability Standards Board (ISSB) of the International Accounting Standards (IFRS) Foundation into its environmental disclosure platform.
source:ISSB at COP27: CDP to incorporate the ISSB Climate-related Disclosures Standard into its global environmental disclosure platform
Thus, CDP is expected to continue playing an important role in the disclosure of non-financial information.
Related seminars:Current climate change disclosure responses
*The deadline for submitting responses in 2023 is July 26, 2023. (CDP) Information disclosure schedule)
summary
At booost technologies Inc., we provide consulting services across the entire sustainability domain, including ESG, TCFD, human capital-related services, and support for preparing integrated reports and annual reports based on IFRS sustainability standards, all with a view to enhancing corporate value.
Furthermore, the "Decarbonization Support Platform" enables the automatic visualization of CO2 emissions, which has become essential for environmental information disclosure, as well as carbon offsetting.booost GXYou can also use this service.
If you have any concerns about disclosing sustainability information, please feel free to contact us.