{"id":14160,"date":"2023-10-18T13:28:58","date_gmt":"2023-10-18T13:28:58","guid":{"rendered":"https:\/\/www.esgtoday.com\/?p=14160"},"modified":"2023-10-18T13:29:00","modified_gmt":"2023-10-18T13:29:00","slug":"cdp-to-align-with-issb-climate-disclosure-standard-in-2024","status":"publish","type":"post","link":"https:\/\/www.esgtoday.com\/cdp-to-align-with-issb-climate-disclosure-standard-in-2024\/","title":{"rendered":"CDP to Align with ISSB Climate Disclosure Standard in 2024"},"content":{"rendered":"\n
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Climate research provider and environmental disclosure platform CDP announced today that it will align its sustainability reporting questionnaire with the IFRS Foundation\u2019s International Sustainability Standard Board\u2019s new climate disclosure standard beginning this coming year, and to consider other emerging sustainability disclosure systems going forward, in order to ease the reporting burden on companies, and encourage broader reporting on key environmental issues.<\/p>\n\n\n\n

CDP runs a global environmental disclosure system, enabling investors and other stakeholders to measure and track organization\u2019s performance in key environmental sustainability areas including climate change, deforestation, and water security. The platform provides annual scores for companies \u2013 typically released each year in December<\/a> \u2013 on each of the key categories, and the data is also used by information services providers such as Bloomberg, STOXX, Trucost, FTSE\/Russell, MSCI and ISS ESG to power investment research, products, indices and ratings.<\/p>\n\n\n\n

The ISSB was launched in November 2021<\/a> at the COP26 climate conference, with the goal to develop IFRS Sustainability Disclosure Standards, driven by demand from investors, companies, governments and regulators to provide a global baseline of disclosure requirements enabling a consistent understanding of the effect of sustainability risks and opportunities on companies\u2019 prospects. The board launched its inaugural general sustainability (IFRS 1) and climate (IFRS 2) reporting standards in June 2023<\/a>, and the new standards are expected to inform emerging disclosure requirement systems<\/a> from many regulators globally.<\/p>\n\n\n\n

ISSB Chair Emmanuel Faber said:<\/p>\n\n\n\n

\n

\u201cCDP\u2019s work towards alignment with the IFRS S2 is incredibly welcome and timely, as it will further ease the reporting burden for thousands of companies, moving us one step closer to a common language for disclosures, while improving the consistency of climate-related information for investors and accelerating their access to this data. As companies prepare to implement the ISSB standards, it is positive to see yet another year of growth in voluntary disclosure through CDP.\u201d<\/p>\n<\/blockquote>\n\n\n\n

CDP also announced plans to consider additional sustainability reporting standards, including reflecting the new Taskforce on Nature-related Financial Disclosures (TNFD)<\/a> framework in its questionnaire from next year, and to reflect the SEC\u2019s upcoming<\/a> climate disclosure rule, as well as the European Sustainability Reporting Standards<\/a> in its disclosure system.<\/p>\n\n\n\n

The CDP\u2019s announcement was made alongside of a report indicating a continuing surge in companies disclosing on key environmental issues through its platform. According to the CDP, a record of more than 23,000 companies disclosed through CDP in 2023, up 24% over the prior year. With this year\u2019s record results, companies worth $67 trillion \u2013 more than 66% of global market cap \u2013 are now disclosing data on climate change, deforestation and water security through CDP.<\/p>\n\n\n\n

Sherry Madera, Chief Executive Officer at CDP said:<\/p>\n\n\n\n

\n

\u201cWith over 23,000 businesses disclosing through CDP this year, it is clear that sustainability \u2013 and the data that underpins it – is not a \u2018nice to have\u2019, but an essential part of long-term success in the business community that is showing no sign of slowing down \u2013 nor should it.\u201d<\/p>\n<\/blockquote><\/span>","protected":false},"excerpt":{"rendered":"

Climate research provider and environmental disclosure platform CDP announced today that it will align its sustainability reporting questionnaire with the IFRS Foundation\u2019s International Sustainability Standard Board\u2019s new climate disclosure standard beginning this coming year, and to consider other emerging sustainability disclosure systems going forward, in order to ease the reporting burden on companies, and encourage […]<\/p>\n","protected":false},"author":2,"featured_media":14161,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[37],"tags":[],"acf":[],"yoast_head":"\nCDP to Align with ISSB Climate Disclosure Standard in 2024 - ESG Today<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.esgtoday.com\/cdp-to-align-with-issb-climate-disclosure-standard-in-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CDP to Align with ISSB Climate Disclosure Standard in 2024 - 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