In just a few years, the EU has rolled out several new sustainable finance rules. The aim is to redirect capital flows in Europe to more sustainable economic activities.
Now is the time for implementation, with EU regulations for environmental disclosure taking full effect this year. As environmental disclosure becomes the norm – and the law – CDP continues to guide companies and investors to navigate this new era of sustainability reporting.
The content shown here was produced with the support of the LIFE Programme of the European Union.
Read our press release.
You can find further resources below for companies, investors and policymakers.
CDP’s questionnaires evolve annually to push corporate ambition further, and already enable companies to disclose many of the EU disclosure regime datapoints.
The Climate Disclosure Standards Board (CDSB) was an international consortium of business, environmental and social NGOs, committed to advancing and aligning the global mainstream corporate reporting model. It was consolidated into the IFRS Foundation to support the work of the newly established International Sustainability Standards Board (ISSB) in 2022.
The CDSB Application Guidance for water is also available in Portuguese, Spanish and French.
The CDSB Application Guidance for biodiversity is also available in Portuguese, Spanish and French.
We help investors get the EU Taxonomy and Sustainable Finance Disclosure Regulation (SFDR) data they need to comply with their own mandatory reporting requirements and make sustainable investment decisions.
We engage in relevant policy fora and working groups to share evidence and contribute to impact assessment for future improvement of the EU sustainability disclosure regime.
CDP is represented in the 2023-2024 mandate of the EU Platform on Sustainable Finance, an advisory body to the European Commission.
The Climate Disclosure Standards Board (CDSB) was an international consortium of business, environmental and social NGOs, committed to advancing and aligning the global mainstream corporate reporting model. It was consolidated into the IFRS Foundation to support the work of the newly established International Sustainability Standards Board (ISSB) in 2022.
Explore reviews of companies’ compliance with the Non-Financial Reporting Directive (NFRD) in 2020 and 2021. Country-specific briefings and thematic research are also available below, providing evidence to support the development of guidance and training in order to drive high quality uptake of non-financial reporting requirements.
The state of EU environmental disclosure in 2020
Falling short? Why environmental and climate-related disclosures under the EU Non-Financial Reporting Directive must improve
The European Union (EU) disclosure regime represents a comprehensive framework aimed at promoting sustainable investment and increasing transparency in the financial market.
This framework includes several key regulations: the EU Taxonomy, a classification system providing a common language and clear criteria for determining whether an economic activity is environmentally sustainable; the Corporate Sustainability Reporting Directive (CSRD), requiring companies to disclose detailed information on how sustainability issues affect their business and how their business impacts people and the environment; and the Sustainable Finance Disclosure Regulation (SFDR), mandating financial market participants and financial advisers to disclose specific ESG information related to financial products.
Under the FinACTION project, an EU LIFE funded project which works to drive market uptake and ambition of the EU disclosure regime, CDP drives market uptake of sustainable finance frameworks and scales EU ambition through our disclosure system, while engaging companies to disclose in line with these regulatory requirements and a science-based transition to a net-zero and nature-positive economy. The work ranges from measuring pressure points on climate and nature (adverse impacts) to integration of sustainable finance taxonomies into the CDP questionnaire. For an overview of the FinACTION project and its impacts, read this report.
CDP has always been supportive of the development of impactful and high-quality disclosure standards and frameworks to provide clarity, increase compliance and support companies in their reporting needs, in line with our mission to drive transparency and action to tackle the environmental crisis.
As the only global environmental disclosure system, with over 23,200 companies disclosing their climate and nature impacts in 2023 (including nearly 90% of European companies by market value), CDP plays a crucial role in accelerating the implementation of standards and taxonomies at scale.