2019 CDP scores: EcoAct congratulates its A-list clients
This morning CDP released the CDP scores for the 2019 round of disclosures. Out of over 8,400 companies disclosing, 179 have achieved a Leadership A-list ranking for the Climate Change Questionnaire. EcoAct’s clients, including L’Oreal, Tui, Coca Cola European Partners, Telefonica and Danone are among those achieving the highest-level score and demonstrating their leadership in addressing climate risks and contributing towards a low carbon future.
Congratulations to the Leaders
EcoAct is delighted to congratulate twelve of its clients for achieving Leadership A-List status this year. We are also really pleased to announce a very positive year across the board for our clients and partners, 87% of which have either improved their score or held their rating.
Each year our clients continue to climb the ranks of the CDP scores, and we are encouraged to see corporates raising their climate ambitions and working hard to improve their climate disclosures.
What is CDP and why do CDP scores matter?
CDP is one of the most comprehensive and internationally recognised sustainability reporting platforms. It works on behalf of 872 investors representing US$100 trillion in assets, and around a third of the world’s invested capital. The scores published by CDP allow these investors to see that companies are incorporating sustainability into their business strategy and practices, so they can assess the climate risk of their portfolios.
The importance of good quality climate disclosures has never been more pressing, particularly in light of the massive impact the climate emergency poses to our global economy. Last week BlackRock which represents over $40 trillion of assets publicly pledged to put climate and sustainability at the heart of its decision-making process and it is not the first big asset manager to do so.
This increasing pressure from the investment community is changing the disclosure landscape rapidly. In 2019, over 8,400 corporates disclosed to CDP, which is a 20% increase in the previous year. Reporting companies now represent over half of global market capitalisation. This is good news as it demonstrates that investors are stepping up their requests for companies to disclose, and companies are taking steps to be more transparent about the actions they are taking.
CDP in 2020
No sooner have the 2019 CDP scores been released the work begins on 2020 disclosure planning. This year there are some updates to the CDP Questionnaires as they aim to complete the sector alignment to the TCFD (Taskforce on Climate-related Financial Disclosures). There will also be a brand new questionnaire for the Financial Services sector. EcoAct will be publishing a revised CDP factsheet summarising all the updates and providing tips for how you can maximise your 2020 disclosures in the coming weeks.
Our partnership with CDP
EcoAct are a Gold CDP Climate Change partner as well as a Gold CDP Partner for science-based targets. Every year we work with a wide range of companies across many different sectors to help them tackle the challenges of climate change, set ambitious climate targets and achieve improvements to their annual disclosures to CDP.