31 March 2022 (London): Responding to the publication of the International Sustainability Standards Board (ISSB) exposure drafts on climate and general sustainability-related financial disclosures, CDP’s Global Director of Policy Engagement & External Affairs Pietro Bertazzi said: “CDP welcomes the publication of the ISSB’s exposure drafts. The development of the world’s first global baseline standard for climate-related financial disclosure is a landmark moment in environmental disclosure and will pave the way to more transparency, accountability and efficiency within global financial markets.
The most effective and impactful standards are developed in collaboration. CDP encourages our stakeholders – corporates, capital market actors, accountants, policymakers and regulators - to review the exposure drafts and provide feedback to inform the next stage of development. At CDP, we look forward to doing the same, and continuing to support the ISSB with our global market led environmental disclosure system, expertise and data.
The exposure
drafts have their foundations in the work and thought leadership of the Climate
Disclosure Standards Board (CDSB), CDP and other major framework and standard setters,
building on many years of cooperation and collaboration. Leading organizations
have always worked towards a shared goal of a harmonized set of global
reporting standards and now that vision is on the cusp of becoming a reality.
CDP is committed to driving the implementation of both global and jurisdictional-level standards at scale, including those being developed by the ISSB, EFRAG in the EU, the SEC in the US, and other markets. We encourage all relevant standard setters and regulators to work collaboratively to ensure compatibility across jurisdictions, allowing for systems that combine a global baseline with additional disclosure requirements.
In order to meet the goals of the Paris Agreement and 2030 Agenda for Sustainability Development, we must drive disclosure that incorporates both value creation and impacts on people and planet. Whilst climate-focused standards provide a good starting point, disclosure must cover a wider range of environmental issues including water, forests and biodiversity. CDP will continue to play a critical role in enabling companies to disclose this information, going beyond the foundations and driving the market towards the most ambitious and impactful environmental disclosure.”
ENDS
For more information or for media enquiries, please contact:
Éilis O’Connell, CDP | [email protected]
About CDP
CDP is a global non-profit that runs the world’s environmental disclosure system for companies, cities, states and regions. Founded in 2000 and working with more than 680 investors with over $130 trillion in assets, CDP pioneered using capital markets and corporate procurement to motivate companies to disclose their environmental impacts, and to reduce greenhouse gas emissions, safeguard water resources and protect forests. Over 14,000 organizations around the world disclosed data through CDP in 2021, including more than 13,000 companies worth over 64% of global market capitalization, and over 1,100 cities, states and regions. Fully TCFD aligned, CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. CDP is a founding member of the Science Based Targets initiative, We Mean Business Coalition, The Investor Agenda and the Net Zero Asset Managers initiative. Visit cdp.net or follow us @CDP to find out more.