CDP incorporates ISSB climate disclosures
defining issues | may 2024
Significant enhancements made to CDP reporting framework and platform aim to drive corporate environmental action.
CDP’s 2024 corporate questionnaire aligns with the International Sustainability Standards Board (ISSB) IFRS S2 climate standard. It also combines three previous questionnaires – climate change, forests and water security. The 2024 reporting window closes on October 2, 2024.
Applicability
- All companies that plan to submit a CDP questionnaire in the 2024 season
- 2024 guidance & questionnaires
Relevant dates
- 2024 questionnaires released: May 2, 2024
- CDP Portal opens for disclosers: May 14, 2024
- 2024 reporting window opens: June 4, 2024
- Scoring deadline for disclosers: September 18, 2024
- 2024 reporting window closes: October 2, 2024
Alignment with the ISSBTM climate standard
The 2024 questionnaire aligns with the disclosure requirements of IFRS S2 climate standard. As a result, the questionnaire includes some new and some updated questions, as well as guidance to help companies understand where and how they can provide information that aligns with IFRS S2.
A combined questionnaire
The climate change, forests and water security questionnaires have been integrated into one. As a result, CDP has incorporated environmental issues like biodiversity, plastics and land more systematically and eliminated duplicate governance and strategy questions.
Scoring and other changes
In 2024 companies will continue to be scored separately on climate change, forests and water security.
Questions related to plastics and biodiversity will not be scored in 2024 with CDP hoping that more companies will submit disclosures in these areas. However, all corporate disclosures, except for those for small and medium enterprises (SMEs) and public authorities, will include some basic questions on plastics and biodiversity.
CDP has introduced a dedicated questionnaire for SMEs.
CDP has transformed its reporting platform, CDP Portal, with an improved interface and workflow. The objective is for companies to better measure, understand, act and report on their environmental impact.
Future developments: ESRSs and TNFD
CDP previously announced it would work with the European Financial Reporting Advisory Group (EFRAG) to maximize alignment with the European Sustainability Reporting Standards (ESRSs) on environmental topics. That work is ongoing.
In addition, CDP plans to align with the Taskforce on Nature-related Financial Disclosures (TNFD) framework.
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